EMPLOYEE BENEFIT PLAN AUDIT
Focused on Raising the Bar
Your employee benefit plan is a critical tool for attracting and retaining top talent. Bailey LLP’s dedicated audit teams help ensure your plan meets all regulatory and compliance requirements regardless of your organization’s size so you can avoid costly penalties and deliver on your promise to employees.
Services Included
Audits of registered pension plan financial statements in accordance with provincial or federal pension legislation (e.g., Ontario PBA, PBSA for federally regulated plans)
Audits of employee benefit plan financial statements not governed by pension legislation (e.g., supplementary retirement arrangements or group savings plans under trust agreements)
Employer compliance audits for multi-employer pension or benefit plans to verify remittances, hours reported, and collective agreement adherence
Preparation of financial statements under Canadian Accounting Standards for Private Enterprises (ASPE) or International Financial Reporting Standards (IFRS), as applicable
Preparation of financial statements on a special-purpose basis (e.g., cash basis, tax basis, contractual basis, or regulatory basis reporting)
How Bailey LLP Can Help
Trusted Advisory for Pension and Benefit Plan Sponsors
Bailey LLP’s Employee Benefit Plan Practice provides specialized assurance and advisory services to sponsors of single-employer, multi-employer, and group benefit plans across Canada. We audit registered pension plans (RPPs), defined benefit and defined contribution plans, supplementary retirement arrangements, and health and welfare trusts.
Our professionals work with plan sponsors, trustees, and administrators to ensure compliance with federal and provincial pension standards, including Ontario’s Pension Benefits Act (PBA) and the federal PBSA. We also advise on governance, risk management, and internal control improvements in plan administration.
We support plans ranging in complexity from under 100 members to large, multi-jurisdictional plans with thousands of participants and significant asset portfolios.
Our specialized services include:
- Audits of registered pension plan financial statements (federal and provincial)
- Audits of non-registered and supplementary retirement plans
- Employer payroll and remittance audits for multi-employer plans
- Preparation of financial statements under ASPE or IFRS
- Special-purpose financial reporting (e.g. cash or tax basis)
- Internal control assessments related to plan administration
- Support during CRA reviews or OSFI/FSRA regulatory audits
- Assistance identifying and applying for applicable tax credits or filing relief
- Guidance on fiduciary responsibilities and plan governance best practices
Bailey LLP delivers efficient, high-quality audits while staying up to date on legislative and regulatory changes that impact your plan. Our team brings a proactive, risk-based approach that helps strengthen plan compliance, transparency, and operational effectiveness.
Contact Our Expert Team
Reach out to Bailey LLP at 357 Bay Street, Toronto for CPA and advisory services.