INSIGHT

Is It Time to Change Your Employee Benefit Plan Audit Firm? Your Guide to Making the Transition 

Ryan Davis • February 4, 2026

Services: Employee Benefit Plan Audit

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Your annual employee benefit plan audit is a critical compliance requirement. While changing audit providers isn’t something you do frequently, there are times when a new partnership makes strategic sense—whether you’re seeking specialized industry knowledge, more responsive service, or simply better value for the fees you’re paying. 

Understanding when and how to make this transition helps you maintain compliance while improving the quality and efficiency of your audit process. 

Recognizing When It’s Time Switch to a New Employee Benefit Plan Audit Firm 

Several situations might prompt you to evaluate alternative audit providers: 

• Service Quality Concerns: If your current auditor is difficult to reach, slow to respond to questions, or provides minimal guidance on compliance matters, you’re not getting the partnership you need. 
• Industry Knowledge Gaps: Your business operates in a specific industry with unique considerations. An audit firm with deep experience in your sector brings valuable perspective on common issues, relevant benchmarks, and potential risks that generalist auditors might miss. 
• Fee Misalignment: If your audit fees have increased significantly without corresponding improvements in service quality, or if you suspect you’re paying more than market rates, it’s worth exploring alternatives. 
• Changes in Your Organization: Mergers, acquisitions, significant growth, or changes in plan structure might warrant an auditor with specific technical capabilities or resources to handle increased complexity. 
• Lack of Continuity: If your audit firm frequently changes the team members assigned to your engagement, you lose the benefit of institutional knowledge and relationships. Consistency matters in understanding your plan’s history and nuances. 

What to Look for in an Audit Provider 

When evaluating potential audit providers, focus on factors that directly impact your experience and outcomes. 

Specialized Knowledge and Credentials 

Employee benefit plan audits fall under specific Department of Labor (DOL) and Employee Retirement Income Security Act (ERISA) regulations. Look for firms that: 

• Demonstrate substantial experience conducting ERISA audits 
• Employ professionals with specialized training in employee benefit plan compliance 
• Maintain membership in the AICPA’s Employee Benefit Plan Audit Quality Center, which signals a commitment to quality and ongoing education 
• Stay current with regulatory changes and DOL guidance 
• Are committed to security of the information that is handled in the employee benefit plan audit, and can evidence the firm’s strong information security policies and procedures 

Service Approach and Communication 

The best audit relationships feel collaborative rather than transactional. During your evaluation, assess: 

• How responsive are they during initial conversations? 
• Do they assign a dedicated team, or will you interact with different people each year? 
• What’s their approach to explaining findings and recommendations? 
• How do they communicate with your third-party administrator (TPA) and other service providers? 
• Do they provide guidance on best practices and emerging compliance issues? 

Efficient Process and Timeline 

A well-managed audit minimizes disruption to your business: 

• What’s their typical timeline from kickoff to completion? 
• How do they coordinate with your TPA to obtain necessary documentation? 
• What do they require from you directly versus obtaining from your service providers? 
• Do they provide clear checklists and guidance on what you need to prepare? 

Transparent Fee Structure 

Request detailed fee proposals that outline base audit fees, costs for additional services, and how fees might change if your participant count or plan complexity increases. Make sure you understand what’s included versus what triggers additional charges. 

Learn more about our Employee Benefit Plan Audit Services

Navigating the Transition to a New Employee Benefit Plan Audit Firm 

Once you’ve selected a new audit provider, a smooth transition requires coordination and clear communication. 

Timing Considerations 

Plan your auditor transition thoughtfully: 

• Ideal timing: Begin your search and selection process several months before your next audit deadline to avoid rushed decisions and allow for appropriate time to plan and execute the audit 
• Communicate early: Notify your current auditor of your decision in writing, following any termination provisions in your engagement letter 

Information Your New Auditor Needs 

Your new audit firm will need access to historical information to understand your plan: 

• Prior year audit reports and management letters 
• Plan documents and summary plan description 
• Recent Form 5500 filings 
• Documentation of any compliance corrections or issues 
• Information about your plan’s service providers 

Your TPA will provide most audit documentation directly to your new auditor, but having context from prior audits helps them understand your plan’s history. 

Working with Your TPA 

Your third-party administrator plays a crucial role in the audit process. Let them know about the change: 

• Provide your new auditor’s contact information well in advance 
• Confirm the TPA can deliver their audit package in the format and timeline your new auditor requires 
• Clarify who coordinates communication between the TPA and auditor 

Most experienced TPAs work with multiple audit firms regularly and can adapt to different auditors’ processes smoothly. 

Maintaining Compliance During the Transition 

Changing audit providers doesn’t alter your compliance obligations or deadlines: 

Form 5500 Filing Deadlines 

For calendar year plans: 

• July 31: Initial deadline to file Form 5500 with attached audit report 
• October 15: Extended deadline (requires filing Form 5558 for extension) 

Audit Requirements 

Your audit must still comply with Generally Accepted Auditing Standards (GAAS) and meet DOL requirements regardless of which firm conducts it. 

Plan Committee Responsibilities 

Document your auditor selection process, including how you evaluated alternatives and why you chose your new firm. This documentation demonstrates your fiduciary oversight. 

The Benefits of the Right Audit Partnership 

When you find an audit provider that aligns with your needs, the relationship becomes more than an annual compliance exercise: 

• You gain advisors who help you understand regulatory changes and their implications 
• You receive proactive guidance on improving plan administration and internal controls 
• You benefit from their experience seeing similar plans and common issues 
• You spend less time managing the audit process because communication flows smoothly 
• You have confidence that your audit meets the highest quality standards 

The right audit firm views your plan not just as an engagement but as an ongoing advisory relationship where they’re invested in your success. 

How BPM Approaches Employee Benefit Plan Audits 

At BPM, our employee benefit plan audit professionals focus exclusively on helping organizations navigate the complexities of retirement plan compliance. We understand that your annual audit should provide value beyond meeting regulatory requirements—it should give you confidence in your plan’s operations and insights to improve processes. 

Our approach emphasizes: 

• Clear communication and dedicated team continuity 
• Efficient coordination with your TPA to minimize your workload 
• Proactive guidance on regulatory changes and best practices 
• Transparent processes so you always know what to expect 

Whether you’re approaching audit status for the first time or considering a change from your current auditor, we’re here to help you understand your options and determine the best path forward. 

Making the Decision 

Switching audit providers is a significant decision, but it shouldn’t be intimidating. If your current audit relationship isn’t meeting your needs—whether due to service quality, communication gaps, or simply the sense that you could be getting more value—exploring alternatives is both appropriate and responsible. 

Your annual audit represents an opportunity to validate your plan’s compliance, identify potential improvements, and strengthen your fiduciary oversight. Partnering with the right audit firm helps you maximize that opportunity. 

Ready to discuss whether a change makes sense for your organization? Contact our employee benefit plan audit team to learn more about our approach and explore how we can support your plan’s success.