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Benefit Plan Audits

Gallagher, Flynn & Company, LLP

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Gallagher, Flynn & Company (GFC) has extensive experience in benefit plan audits and has developed an approach that has proven to be successful for a wide range of companies.

Additionally, because we have performed so many benefit plan audits over the years, we have streamlined our methodology to deliver professional insight quickly and cost effectively.

Our approach is comprehensive. We will examine every facet of your current plan, beginning with obtaining an understanding of the Plan's attributes, including processes and procedures related to plan management. We will perform testing on participant information and investments to ascertain that the plan is functioning properly and that investments are being accurately recorded. At the conclusion of the audit we will present audited financial statements and provide feedback related to the plan's operations and compliance.

We will also keep you informed throughout the year with the most current Department of Labor and Internal Revenue Service compliance initiatives and developments that could impact your plan.

We’ll get your input, listen to your questions, and give you the reasoning behind our assessment. We’ll examine the history of a business and, with your assistance, its financial future, before we come up with our final professional valuation.


Our pension audit specialists have extensive experience in performing audits on various types of plans including:

  • Defined Contribution Plans, including profit sharing plans and 401(k) plans
  • Employee Stock Ownership Plans
  • Defined Benefit Retirement Plans

For each of these plans, these are two levels of audits available:

  • Limited Scope Audit - this is only available on plans that have investments that are certified by qualifying institutions that hold the assets, and results in a reduction in the testing required on the investment portion of the plan.
  • Full Scope Audit - this can be performed on all plans that require an audit and must be used for plans that do not have a qualified certification from the asset custodian.


Gallagher, Flynn & Company LLP is a member of the AICPA Employee Benefit Plan Audit Quality Center. In addition, members of our staff attend the annual AICPA National Conference on Employee Benefit Plans to obtain up to date information and learn about developing trends related to employee benefit plans.

We are one of the largest independent Certified Public Accounting firms in the Northeast. The GFC group is composed of individuals selected for both their excellent technical skills and their compatibility with our professional group. In addition to our Certified Public Accountants, we have professionals with extensive experience in Human Resource Management, Business Valuations, Mergers and Acquisitions, and other focus areas. Further, we are part of RSM US Alliance, a premier affiliation of independent accounting and consulting firms in the United States, with more than 75 members in over 38 states, the Cayman Islands and Puerto Rico. This affiliation allows us to provide organizations and individuals with the best of both worlds: local availability and value with the depth of a national firm.


Our fee structure is variable and will be impacted by the range of services you require. For more information, please call us: in South Burlington, VT at 802-651-7310 or in Hanover, NH at 603-643-0043.


Name Phone Email
Sarah E. Richards 802 651-7310 Sarah Richards

Get in touch with Gallagher, Flynn & Company, LLP

725 Community Drive, Suite 401, South Burlington, VT 05403
Call Us: (802) 863-1331 • Fax: (802) 651-7305