Employee Benefit Plans

Benefit plan audits, at scale.

From the plan document to the plan financials — done with the support attached.

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Acme 401(k) Plan · FY26 audit
2,840 participants · 38 sample selections
Testing
ID
Name
Elig.
Def.
Match
Vest.
Status
P-1042
A. Chen
Pass
P-1058
B. Ortiz
Review
P-1071
C. Park
Pass
P-1084
D. Singh
Open
P-1097
E. Tanaka
Pass
5 procedures applied
4 source systems
6 exceptions

Plan terms live across three documents. Support comes from four systems. And the same five procedures run across every participant.

01·The Plan·Co-Audit

Read the plan and the amendments.

Ask for the match formula, the eligibility rule, the vesting schedule. Every answer cites the section it came from.

See Co-Audit
Co-Audit
Acme 401(k) · plan document
What's the employer match formula?
100% of the first 3% of compensation, then 50% of the next 2%. Capped at 4% match per participant.
Match formula
Tier 1100% × first 3%
Tier 250% × next 2%
Max match4% of compensation
plan_doc.pdf· §4.2, page 11
Ask Co-Audit anything…
02·The Support·Match Agent

Support, walked across the systems.

Match Agent pulls the distribution form, the payroll, the trust report, and the 1099-R together. Mismatches stay visible until they’re explained.

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Participant P-1058 · Distribution
$24,500 · 10/14/2026
3 of 4 matched
PDF
Distribution form· p1058_distribution.pdf
Amount, date, withholding agree
Matched
XLSX
Payroll remittance· payroll_q4_oct.xlsx
Final payroll suspended on date
Matched
PDF
Trust report· trust_q4_2026.pdf
Distribution recorded · page 14
Matched
PDF
1099-R withholding· p1058_1099r.pdf
Federal withholding mismatch — $20
Review
Support pulled from 3 source systems.Lock match
03·The Recalc·Test Agent

Five procedures, one pass.

Eligibility, deferrals, match, vesting, and remittance get recalculated against the plan terms. Exceptions surface with context.

See Test Agent
Deferral testing · 401(k)
Recalculate vs. payroll
Recalc
ID
Comp
Def %
Expected
Actual
Result
P-1042
$85,000
6%
$5,100
$5,100
Pass
P-1058
$72,400
8%
$5,792
$5,800
Review
P-1071
$95,200
4%
$3,808
$3,808
Pass
P-1097
$66,500
10%
$6,650
$6,650
Pass
3 of 4 attributes match · 1 review.Workpaper
04·The Statements·Financial Statement Review

Plan financials that hold together.

Investments, contributions receivable, benefits payable — the math foots. Participant loan presentation gets flagged on its own.

See Financial Statement Review
Statement of Net Assets — FY26
Available for benefits
In review
Investments at fair value
Mutual funds$48,200
Common stock$12,150
Stable value fund$8,400
Total investments$68,750
Participant loans$1,820
Contributions receivable$245
Benefits payable($412)
Net assets available for benefits$70,403
Participant loan presentation under ASC 962-325 — needs review.

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