As employee benefit plan (EBP) auditors across the country gear up for the 2023 audit season, we would like to highlight key regulatory developments, discuss the preliminary findings of the most recent Department of Labor (DOL) Audit Quality Study, and provide further commentary on the timeliness of participant deferrals.
Recent Regulatory Developments
Form 5500 Changes to Participant-Counting Methodology
Arguably one of the biggest changes to the Form 5500 in recent times, the participant-counting methodology on the Form 5500 is dramatically