- To ensure employee benefit plans meet certain Internal Revenue Service (IRS) and Department of Labor (DOL) standards, plans must be subjected to a number of compliance tests each year. These tests are often referred to as the annual non-discrimination tests, and are required of plans in order to maintain their tax exempt status.
- PrimeWest Health selected Baker Tilly to provide financial statement audit services. Several factors influenced their decision to switch to Baker Tilly.
- The NAIC formally adopted the Own Risk and Solvency Assessment (ORSA) Model Act in September 2012, and the ORSA requirement for qualifying insurers will be effective January 2015. In an effort to improve guidance and regulation, the NAIC’s ORSA (E) Subgroup has completed two feedback pilot projects, one in June 2012 and the most recent in September 2013.
- Working with Baker Tilly, the city achieved a smooth transition for the comptroller and eliminated a significant staffing void. The efficient collaboration led to a carefully prepared audit with limited adjustments and within budget.
- The AICPA recently issued an update to the Trust Services Principles impacting SOC 2.
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