Employee Benefit Plan Audits

Audits of employee benefit plans involve more than a financial audit of plan assets. In fact, these audits take an in-depth look at an organization's compliance with a myriad of relevant regulations. Dermody, Burke & Brown's Qualified Plan Audit Team performs over fifty employee benefit plan audits annually to assure our clients that their benefit plans meet all regulatory requirements.

Whether you have one benefit plan or ten, you can benefit from our experience and dedication to client service.

Our team of CPAs specializes in auditing qualified retirement benefit plans. Our areas of expertise include, but are not limited to, 401(k) plans, 403(b) plans, defined benefit pension plans, employee stock ownership plans (ESOPs), Defined Contribution Plans (profit-sharing plans, money purchase pension plans, and other employee benefit programs), Health and Welfare Benefit Plans, and Multiemployer Benefit Plans.
The team implements a focused, step-by-step approach to planning and executing each audit, yielding timely and thorough results.
The team performs a comprehensive analysis to determine that each plan's operation complies with both its documentation requirements and any Employee Retirement Income Security Act (ERISA) provisions that may impact for-profit and not-for-profit organizations.
We offer both full-scope and limited-scope audits in accordance with ERISA and as required by Department of Labor (DOL) regulations. We also prepare Form 5500 - The Annual Return/Report of Employee Benefit Plans and Summary Annual Report.
Each team member receives extensive, ongoing compliance training, keeping them ahead of the curve on new developments and techniques. This provides peace of mind to clients, while improving audit efficiency. DB&B is an active member of the AICPA Employee Benefit Plan Audit Quality Center. Membership in the Center is voluntary and requires firms to:
- Maintain and demonstrate high quality audit services;
- Maintain continuing professional education in the employee benefit plan discipline; and
- Include employee benefit plan audits in their peer review process

As part of this commitment, DB&B's team members attend the annual AICPA National Conference on Employee Benefit Plans and other seminars to keep current with emerging issues and further their expertise in this complex area. The Center also provides access to the latest developments in accounting, auditing and DOL rules and regulations through news alerts, webcasts and an online forum for members to share information and best practices.

Eployee Lising

Kathy Burke Barry, CPA

Kathy specializes in audits, review and compilations of manufacturers and closely-held family business. She also is the Chair of the Quality Assurance Committee at Dermody, Burke & Brown. She has been with the firm since graduating from St. John Fisher College with a Bachelor of Science degree in Accounting in 1987.

Kathy is a member of the New York State Society of Certified Public Accountants (NYSSCPA) and the American Institute of Certified Public Accountants (AICPA). She also serves on the board of Girl Scouts of NYPENN Pathways, Inc.

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Lori Ciarla, CPA

Lori Ciarla is a principal at Dermody, Burke & Brown, CPAs, LLC. Having over 25 years experience, she specializes in audit, accounting, and advisory services for not-for-profit and governmental organizations, as well as employee benefit plans. She leads the firm’s Employee Benefit Plan Audit Practice, overseeing the audits of many annual benefit plans, including single-employer, multi-employer, defined contribution, defined benefit, and health and welfare plans.

Area of Focus

As the firm’s designated lead for the AICPA’s Employee Benefit Plan Audit Quality Center, Lori plays a key role in ensuring audit quality and compliance within this critical sector. Lori co-leads the firm’s Affordable Housing Audit Practice, leveraging her experience in HUD auditing. She is also deeply involved with the firm’s employee recruitment program, helping to attract and retain top talent.

Education and Professional Certifications

Lori is a graduate of Le Moyne College and is a member of both the New York State Society of Certified Public Accountants (NYSSCPA) and the American Institute of Certified Public Accountants (AICPA). She received the AICPA Not-for-Profit Certificate I and is a member of the Not-for-Profit section of the AICPA. She currently serves on the Executive Committee as Treasurer and board member for Francis House. Previously she served on the board of the American Heart Association and is the former Treasurer of both the Carol M. Baldwin Breast Cancer Research Fund and Girls Incorporated.

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Natasha Newbury

Natasha is an Audit & Accounting Manager with Dermody, Burke & Brown. She has been with the firm since 2008 and specializes in financial institutions, single and multi-employer plans, manufacturing, and nonprofits. Natasha received a Bachelor’s Degree from State University of New York at Oswego.

Natasha speaks at various colleges and high schools throughout the year promoting the accounting profession. She co-chairs on the Career Opportunities in the Accounting Profession (COAP) Committee, which is organized through the New York State Society of Certified Public Accountants and focuses on promoting diversity in the accounting profession. She is also a member of the SUNY Oswego Accounting Program Advisory Group, whose goal is to remain current in developments of the accounting profession and advise the faculty for their curriculum. She is a Board member and Treasurer of the Upstate Minority Economic Alliance (UMEA); whose mission is to harness the economic power of the minority community for the benefit of the region.

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