Employee Benefit Plans

“McKonly & Asbury has audited the benefit plans for our organization for the past five years. Since day one in our business relationship, our staff and management have shared nothing but positive comments about the quality of their work, their subject-matter expertise, and the service received from McKonly & Asbury… They provide an exceptional client experience. When compared to other systems we’ve used, their ShareFile portal is the easiest and most user-friendly system we’ve ever used.” – UPMC Pinnacle


McKonly & Asbury’s team is aware of the challenges that employee benefit plans present to employers. Our firm has a team of employee benefit professionals that possess the experience and expertise to assist you with ERISA and IRS compliance, reporting requirements, and regulations that can impact your employee benefit plan.

Our employee benefit plan team members have many years of experience in working with employee benefit plans. We understand the matters that are important to the Department of Labor, IRS, and the American Institute of CPAs (AICPA).

Highlights of our dedicated team of professionals:
  • Extensive experience with employee benefit plans ranging from 100 to over 10,000 participants and plan assets exceeding $500 million.
  • Our team has conducted hundreds of employee benefit plan audits, including 401(k), 403(b), defined benefit, ESOP, and health and welfare plans.


Services We Provide

Employee Benefit Plan Audit and Consulting Services:
  • Full-scope audits
  • Limited-scope audits, in accordance with Department of Labor Regulations
  • Consultation regarding Department of Labor Regulations
  • Assistance with Department of Labor inquiries and examinations
  • Electronic data analysis and extraction to assist with compliance with DOL and IRS regulations
  • Recommendations on improving the administration of your plan
  • Ongoing updates and alerts on changes that may impact your plan
  • Assitance with responses to notices received from the Department of Labor or Internal Revenue Service
  • Audit assistance related to examinations by the Department of Labor or Internal Revenue Service
  • Assistance with self-corrections
We offer full-service financial statement audit services for the following plan types:
  • 401(k)
  • 403(b)
  • Defined Benefit
  • Employee Stock Ownership Plans (ESOP)
  • Health and Welfare Plans
Our services extend well beyond financial statement audits. Our team also offers:
  • Data extraction and analysis
  • Audit readiness consultations
  • Calculation of plan compensation and participant deferrals
  • Financial statement preparation

Our audit process is designed to provide you with quality service with minimal distraction to your organization. Our services are not limited to audits. Discover how your organization can benefit from our broad knowledge and experience.



Blog Series – Employee Benefit Plans

Employee Benefit Plan Audit FAQ’S

United States Department of Labor

Internal Revenue Service

AICPA’s Employee Benefit Plan Audit Quality Center

Member – Chesapeake Human Resources Association (CHRA)

Member – Society for Human Resource Management (SHRM)

Member – Human Resources Professionals Association (HRPA)


Employee Benefit Plans Leaders