Annual Retirement Plan Audits

Benefit Plan Audits – Detroit (MI)

Many companies offer retirement plans as an employee benefit. Not only does it provide workers an essential retirement savings vehicle, but it can also open the door to business tax saving opportunities. However, there are strict requirements which must be followed when administering a plan. ERISA outlines the rules which must be followed, including when a plan needs to undergo an annual retirement plan audit. Those companies that achieved a large plan status are subject to this requirement. This means that business owners, CFOs, Controllers, and HR Managers need to find an eligible audit firm and manage the sometimes complex audit process. For this reason, companies in Detroit need to find a qualified auditor with appropriate experience.

Benefit Plan Audits – Michigan

Boyum Barenscheer CPAs has years of experience providing full scope, Section 103(a)(3)(c), and ESOP audits. We work with single employer plans with a total active participant count between 125 and 5,000. Team members undergo regular training to stay up to date on the latest regulatory changes and updates. In addition, we are a member of the AICPA Employee Benefit Plan Audit Quality Control Center (EBPAQC). The result is a more meaningful and higher quality audit process and report.

Detroit Employee Benefit Plan Audit Services

401k audits
403b audits (offered by tax exempt organizations)
Profit sharing audits
Defined benefit plan audits
ESOP audits
Employee benefit plan consulting

Contact Our Detroit Plan Auditors

Boyum Barenscheer CPAs provides benefit plan audits to companies in Detroit and Michigan. If you are interested in exploring a new plan audit firm, complete the form below and a team member will follow up with you shortly.

About the Detroit (MI) Business Community

Detroit has a large, deeply established business community rooted in automotive manufacturing but increasingly diversified across advanced manufacturing, mobility technology, engineering, logistics, financial services, professional services, healthcare, and digital technology. The broader Detroit region has a workforce of roughly 2.6 million people and ranks among the largest metropolitan economies in the United States. It is also home to numerous Fortune 500 and Fortune 1000 companies, giving the region a substantial concentration of corporate headquarters, suppliers, engineering firms, and professional-service businesses.

Automotive and mobility remain the defining strengths of the Detroit business community. The region produces about 1.7 million vehicles annually and contains one of the country’s densest networks of automakers, suppliers, engineers, research facilities, and manufacturing operations. Detroit is also a major center for electric vehicles, battery technology, industrial automation, robotics, and automotive research and development. This concentration gives local businesses access to an unusually deep supply chain and technical workforce.

Advanced manufacturing is another major advantage. The region supports more than 290,000 advanced-manufacturing jobs across thousands of businesses and has especially strong concentrations of assemblers, fabricators, tool-and-die workers, engineers, and manufacturing-technology specialists. Detroit also has one of the nation’s highest concentrations of deployed industrial robots, reflecting the region’s longstanding emphasis on automation and production technology.