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Audit Archives - Delap CPA

28 Mar

Employee Benefit Plan Guide for Plan Administrators – Part 4: Switching Custodians

March 28, 2018 | By | No Comments

Often one of the differences between a poorly managed plan and well managed plan is the level of service provided by third-party service providers. Plan administrators should on a regular basis, evaluate their service providers weighing factors such as fees, performance, responsiveness to inquiries, and the level of service provided to determine if a third-party […]

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15 Feb

Employee Benefit Plan Guide for Plan Administrators – Part 2: Common Contribution Considerations

February 15, 2018 | By | No Comments

Have you ever wondered what the plan auditors are doing while they are in the office crunching numbers on your employee benefit plan?  We are about to let you in on a little secret! One of the most significant processes involved in operating an employee benefit plan is ensuring that all contributions get applied to […]

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06 Aug

Keeping Up With GAAP – Inventory Measurement

August 6, 2015 | By | No Comments

For as long as we can remember, well – for most of us, generally accepted accounting principles (GAAP) requires inventory to be recorded at cost and subsequently measured at the lower of cost OR market. Sounds easy, but market could mean replacement cost, net realizable value, or net realizable value less an approximately normal profit […]

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20 Jan

Need an Auditor? Think Before You Hire.

January 20, 2015 | By | No Comments

Employee benefit plan (EBP) administrators are hearing a lot about their fiduciary responsibility requirements from service providers (See April 14th Blog Post – Employee Benefit Plans & Responsibilities of Plan Fiduciaries), and the recent case of Lockheed Martin being sued by participants for mismanagement of their plan (Lockheed Martin) further illustrates the importance of fiduciary […]

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18 Nov

Compilation or Review? What’s Best for Your Company.

November 18, 2014 | By | No Comments

Some of the most well-known services provided by public accounting firms include tax, consulting, and audit. In reality, those offerings are just the tip of the iceberg, as the saying goes. Here at Delap LLP, in addition to tax, consulting, and audit, we also perform review and compilation engagements. But what exactly are reviews and […]

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