Financial Statement Preparation and Audit Assistance Services

All qualified pension benefit plans and certain welfare benefit plans that qualify as large plans (generally more than 100 participants) require an annual financial statement audit by an independent accounting firm. 

Taking the pain out of the audit process

Customized HR Solutions, LLC (“CHRS”) offers the following full line of services to help you complete your annual audit process on time, with more confidence and with less stress:

Audit and financial statement preparation including:


  • Gathering  documents requested by auditors
  • Preparing supporting schedules such as trial balance, contribution; and loan repayment remittance schedule and other requested supporting schedules
  • Identifying and resolving issues prior to auditor testing, which keeps audit costs lower
  • Preparation of financial statements, including all required disclosures
  • Direct contact with vendors, actuaries, third-party plan administrators, insurance companies, and auditors, to gather needed data, which minimizes company staff involvement
  • Calculating any corrections and completing and filing necessary forms for Department of Labor (“DOL”) and Internal Revenue Service (“IRS”) correction programs
  • Preparation of Form 5500 with all related schedules


Potential benefits include:


  • Reduction of time your employees spend dealing with the audit
  • Better annual organization and control of the audit process
  • Coordination of data-gathering efforts and reduced pressure on internal staff
  • Potential decreased administrative and audit costs due to early identification of issues
  • Confidence that financials, Form 5500 and any correction applications are completed in accordance with regulations
  • Mitigation of risk of non-compliance as we constantly monitor changes in the Internal Revenue Code, ERISA, and other applicable requirements
  • These services can typically be paid from the plan’s assetsType your paragraph here.