Our firm has committed a significant portion of the practice to the employee benefit plan industry. The firm serves as independent auditors to over 275 employee benefit plans which include Multi-Employer Plans, Single Employer Plans, Defined Benefit Plans, Defined Contribution Plans, Corporate 401(k) Plans, Health and Welfare Plans, Apprentice and Training Funds, Legal and Scholarship Funds, and Industry Promotion Funds.
The plans vary in size and scope. Accordingly, the needs of the plans are diverse and comprehensive. The assets of the plans range from amounts under $50 million to over $3 billion. We have a dedicated payroll audit staff that performs payroll audits across the country for our multi-employer plans.
Our professional staff is well trained in both the financial accounting and reporting standards relevant to employee benefit plans as well as ERISA rules and regulations.
Novak Francella is a member of the American Institute of Certified Public Accountants (AICPA) Employee Benefit Plan Audit Quality Center for CPA firms. Membership in the Quality Center assures that the Firm keeps up to date on the best practices, guidelines, and tools CPAs need to perform quality benefit plan audits.
As members of the Center, our firm is responsible for the benefit plan audit practice, establishing firm-wide training and quality control programs, performing annual internal inspection procedures, and making the Firm’s peer review report findings publicly available. All of these measures ensure high standards for the benefit plan audit practice of the partners and staff of Novak Francella.
We are also a member of the International Foundation of Employee Benefit Plans, where partners speak at and attend educational conferences and workshops at the IFEBP’s Annual Conference.
For more information about our services to employee benefit plans,
please contact us.