Genuine Learning Blog: DOL Audit Quality Study Report

| , ,

In November 2023, the DOL issued their Audit Quality study that found that 30% of ERISA audits from 2020 (prior to the adoption of SAS 136) were materially nonconforming. We’ll review the scope of the DOL’s review, their findings and recommendations for the future.

SCACPA is excited to partner with Galasso Learning Solutions and the Genuine Learning Blog for real-time A&A updates and answers for SCACPA members.

With over 15 years of experience in the accounting profession, Melisa Galasso designs and facilitates courses in advanced technical accounting and auditing topics, including not-for-profit and governmental accounting. She closely monitors regulatory bodies for changes in auditing and accounting guidance and serves as a subject matter expert in implementing the updated guidance.

Are you surprised by the 30% deficiency rate?

november-2023-audit-quality-study.pdf (dol.gov)

Career Opportunity: Senior Wealth Planning Consultant – Roseate Group of Wells Fargo Advisors

Roseate Group of Wells Fargo Advisors is adding another CPA to their team. Roseate Group is a Charleston-based investment planning firm working with high-net-worth families, entrepreneurs, and retirees nationwide. Led ...
READ MORE

Tax Conformity Update: Where Things Stand—and What Comes Next

Posted on Feb. 4 at 11 a.m. EST Leaders from the Association met with legislative leadership Feb. 3 regarding the importance of passing a tax conformity bill for the 2025 ...
READ MORE

BPS Joins Smith + Howard, Expanding Advisory Strength in South Carolina

Effective Jan. 1, 2026, Bauknight Pietras & Stormer, P.A. (BPS) one of South Carolina’s largest locally owned public accounting firms, has joined Smith + Howard, a nationally recognized accounting and ...
READ MORE