What Our Clients Are Saying
At Virginia International Terminals, we take our responsibility to our people very seriously. With PBMares' pension audit service, we are able to demonstrate to our employees that we are taking good care of their future. This gives them peace of mind and helps us meet our corporate stewardship responsibility.
Robert Nestor, CPA
Manager, Pricing and Strategic Planning
Virginia International Terminals, Inc.
Employee Benefit Plans
Fiduciary responsibility is a big deal. With that in mind, PBMares formed the Employee Benefit Plan Team, a select group of experienced professionals dedicated to providing quality employee benefit plan audits to a variety of clients.
Team members on the PBMares Employee Benefit Plan Team are experienced high performers who enjoy the challenge that employee benefit plan auditing provides. Currently, the team performs audits of more than 100 employee benefit plans, including the plans of a number of public companies.
Employee benefit plan audits are available to PBMares clients either as part of the complete package of accounting, tax, and consulting services we offer, or on a stand-alone basis. Whatever direction you choose, your plan audit is job one for our team of dedicated professionals. We practice a streamlined approach that yields greater efficiency and more cost-effective service than the larger, international firms can provide.
What We Provide
Audits of employee benefit plans involve more than a financial audit of plan assets. In fact, these audits take an in-depth look at an organization’s compliance with myriad relevant regulations.
Count on our Employee Benefit Plan Team to help ensure that your benefit plan meets all regulatory requirements:
- Our team specializes in auditing employee benefit plans, including, but not limited to: 401(k) plans, 403(b) plans, defined benefit pension plans, employee stock ownership plans (ESOPs), profit-sharing plans, money purchase pension plans, and other employee benefit programs.
- The team receives extensive, ongoing compliance training, keeping them ahead of the curve on new developments and techniques. This provides peace of mind to our clients, while improving our audit efficiency.
- The team implements a focused, proven, step-by-step approach to planning and executing your audit, yielding a timely, thorough result.
- The team performs a comprehensive analysis to determine that your plan’s operation complies with both its documentation needs, as well as with Employee Retirement Income Security Act of 1974 (ERISA) provisions that may impact your company.
- We can prepare and/or review your Form 5500 and Schedule A attachments to ensure your compliance and provide suggestions on areas where we feel improvements could be made.
How You Benefit
PBMares is distinguished by an exemplary dedication to client service with high professional standards. Our clients have dedicated resources available to answer questions, and to provide updates as to the progress of an audit at any time.
All of our employee benefit plan audit clients benefit from:
- Timely delivery of a high quality audit at competitive costs
- Practical recommendations that have helped clients fine-tune internal procedures, thereby saving time and resources for their organization
- A highly efficient audit conducted in such a manner that minimizes the need for client assistance
Issues & Perspectives
Articles Team members frequently write articles on topics of interest to our not-for-profit clients. These articles, which are published in both regional and national publications, can be accessed by visiting the PBMares Blog.
- Thomas B. Healy, CPA, Team Leader
- Daniel Haynes, CPA, CFE, CFF
- Kevin D. Humphries, CPA, CVA, CFF, CGMA
- James V. Poti, CPA
- R. Todd Swisher, CPA, CGMA
- Helaine S. Weissman, CPA
- Jackie H. White, CPA, CGMA
- American Benefits Council
- Employee Benefit Plan Audit Quality Center
- National Center for Employee Ownership
PBMares is a member of the American Institute of Certified Public Accountants’ (AICPA) Employee Benefit Plan Audit Quality Center. The center is a national community of CPA firms that demonstrate a commitment to employee benefit plan audit quality and raise awareness about the importance of employee benefit plan audits.
The center provides members with best practices, guidelines, and tools CPAs need to perform quality benefit plan audits and better serve their clients. Requirements for membership in the Center include:
- Designating a partner with firm-wide responsibility for the quality of the firm’s ERISA employee benefit plan audit practice
- Maintaining and demonstrating high quality audit services
- Establishing a firm-wide training and quality control programs for all staff conducting ERISA employee benefit plan audits
- Performing annual internal inspection procedures
- Including ERISA plan audits in the peer review process and making the firm’s peer review report findings publicly available
- Periodically file information about recent employee benefit plan audits with the Center and agree to make all records publicly available