The Federal Employee Retirement Income Security Act of 1974 (ERISA) requires entities or sponsors that offer post-employment benefit plans to disclose audited financial information to plan beneficiaries. ERISA establishes the minimum standards for employment benefit plans, including pensions, 401(k) accounts, … Continue reading
Category Archives: Government + Non-Profit (OIA)
2021 Auditor Market Share of Non-Profits
Non-Profits are required to obtain an audit if the organization receives $750,000 or more in federal funding in a single fiscal year. Accordingly, this includes the audit of the institution’s financial statements and the federal award received. These disclosures can … Continue reading
Auditor Market Share of ERISA Benefit Plans
Entities, or sponsors, that offer post-employment benefit plans are required by ERISA (the federal Employee Retirement Income Security Act of 1974) to disclose audited financial information to plan beneficiaries. ERISA establishes the minimum standards for employment benefit plans, including pensions, 401(k) … Continue reading
Who Audits Non-Profits
All organizations and entities that receive $750,000 or more in federal funding in a single fiscal period are required to obtain an audit by an independent accountant. This includes an audit of both the institution’s financial statements and the federal award. The provision applies to states, … Continue reading
Who Audits Benefit Plans
SEC registrants that offer benefit plans are required to file an annual Form 11-K containing an auditor’s report of the benefit plan’s financial statements. Different from post-employment benefit plans covered by ERISA, 11-K annual reports apply to employee stock purchase, … Continue reading
Audit Firm Market Share of ERISA Benefit Plans
Entities, or sponsors, that offer post-employment benefit plans are required by ERISA (the Employee Retirement Income Security Act of 1974) to disclose audited financial information to plan beneficiaries. Unlike the public company audit market, which is dominated by the Big … Continue reading
BDO Acquires MBAF
Recently, BDO USA LLP announced the acquisition of Florida-based MBAF LLC. This merger is significant, as MBAF is currently the 38th largest accounting firm in the US and the largest in South Florida. MBAF is one of the largest Hispanic-owned … Continue reading