Our Firm
Haflinger & Associates has a solid reputation as a leading firm in the audit of employee benefit plans, especially 401(k) plans. Our commitment is so solid that we now devote 100% of our practice to serving only clients seeking a quality audit of their employee benefit plan. These plans fall under the rules and regulations of the Employee Retirement Income Security Act (ERISA) as enforced by the U.S. Department of Labor (DOL), Internal Revenue Service and Pension Benefit Guaranty Corporation (PBGC). The complexity of employee benefit plans is also evidenced by its specialty status within the American Institute of Certified Public Accounts (AICPA). At the time the AICPA instituted the Employee Benefit Plan Audit Quality Center (EBPAQC), Haflinger & Associates was the first San Diego firm to join this center. Membership in the AICPA’s Employee Benefit Plan Audit Quality Center means that we are devoted to achieving the highest standards in performing quality employee benefit plan audits.
Our focus on benefit plan audits translates into deep expertise
We allocate substantial resources to ensure our staff is trained in audit procedures as well as the technical body of knowledge unique to the benefit plan industry. We provide extensive training for new staff and continuing education for experienced staff. This is especially important in an industry that has become more complex due to new regulations, changing reporting requirements and market volatility of the underlying investments. Our managing principal auditor, Peggy Haflinger CPA, is personally involved in each audit as she lends her expertise in research and creative problem solving. We plan and execute each audit in a way that minimizes strain and reporting burden on your plan administrator, payroll administrator, accountants and human resources team members.
When is an audit needed?
Employee benefit plans are required to file an annual return Form 5500 with the DOL. Generally, plans with 100 or more eligible participants are subject to the audit requirement which means that audited financial statements of the plan must accompany the Form 5500 filing. The audit requirement has exceptions such as the “80-120 Rule” plus different applicability requirements for health & welfare benefit plans. Feel free to contact us for additional guidance on your particular plan.
How you benefit
Haflinger & Associates is dedicated to client service and “best practices” in our execution of benefit plan audits. This results in timely delivery of audited financial statements, a very competitive cost structure, efficiency in the use of client assistance and practical recommendations that help you fine-tune internal procedures.
