If your Form 5500 requires an employee benefit plan (EBP) audit, the work needs to be accurate, timely, and defensible. Most plan sponsors understand the requirement. The real challenge is managing the disruption that comes with it: tight timelines, unclear requests, back-and-forth with multiple providers, and uncertainty about whether the audit work will hold up under scrutiny.
Redpath brings structure and clarity to the audit process. We perform employee benefit plan audits year-round with a dedicated team, a streamlined portal-based workflow, and a disciplined approach designed to reduce client effort while strengthening fiduciary protection.
Redpath has a specialized team that performs employee benefit plan audits throughout the year. This creates greater flexibility in scheduling and helps avoid the “10/15 deadline crunch” approach that drives many negative audit experiences.
Our workflow is built around clarity and momentum. We use a secure request portal (Suralink) and coordinate directly with many third-party administrators (TPAs), which often reduces the amount of information the plan sponsor needs to gather and upload.
Instead of a broad, one-size-fits-all request list, Redpath aligns requests to the plan design, the providers involved, and the specific audit requirements. That typically means fewer unnecessary asks, less rework, and fewer time-wasting uploads.
Employee Benefit Plan audits often surface operational issues—missed or late contributions, plan amendments not reflected correctly, eligibility errors, and other items that can become costly if discovered later. Redpath’s approach is designed to identify and address those issues early, with clear communication about what they mean and what steps to take next.
Many firms perform only a small number of employee benefit plan audits each year. When the work is seasonal, infrequent, or treated as secondary, audit quality and client experience often suffer. The result can include extended timelines, incomplete documentation, and gaps that only surface when a regulator, advisor, or another auditor takes a closer look.
Redpath’s employee benefit plan audit work is led by a dedicated service team with repeatable processes, specialized experience, and a consistent year-round cadence.
A clear timeline, organized requests, and steady communication from start to finish.
1) Planning
2) Audit procedures
3) Financial statements and management communication
4) Form 5500 review support
Redpath’s employee benefit plan audit work is led by a dedicated service team with repeatable processes, specialized experience, and a consistent year-round cadence.
Redpath is a member of the AICPA’s Employee Benefit Plan Audit Quality Center (EBPAQC), a voluntary membership organization focused on promoting quality and consistency in employee benefit plan audits. Membership reflects Redpath’s commitment to staying current on standards, regulatory guidance, and best practices in a complex and highly regulated area.
Redpath’s employee benefit plan audit work is led by a dedicated service team with repeatable processes, specialized experience, and a consistent year-round cadence.
You may need an employee benefit audit if:
Typically, preparation includes plan documents, clean participant data, and access to third-party administrator (TPA) reporting. Redpath helps clarify what’s needed, why it’s needed, and what can be obtained directly from providers to reduce your internal workload.
Common issues include missed or late contributions, plan amendments not reflected correctly, and eligibility errors. Redpath communicates findings clearly and helps sponsors understand when remediation is required and what next steps may be appropriate.
The 80-120 rule can provide filing-category flexibility for plans that fall near the participant threshold. Eligibility depends on prior-year filing status and participant counts, and can affect whether an audit is required for the current year.
The 80–120 Rule: At‑A‑Glance
|
Participants at Start of Plan Year |
Prior‑Year Filing Status |
Audit Required This Year? |
|
Fewer than 80 |
Small plan |
No |
|
80–99 |
Small plan |
No |
|
100–120 |
Small plan |
Optional* |
|
100–120 |
Large plan |
Yes |
|
More than 120 |
Any |
Yes |
*May continue filing as a small plan
How to Read This Table
Redpath also provides retirement plan administration services. That perspective strengthens our audit work by deepening our understanding of how plans operate day-to-day and how audit requirements intersect with real-world plan administration.
If you’re seeking an employee benefit plan audit firm that runs a clean process and takes audit quality seriously year-round, Redpath is ready to help.
