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Employee benefit plan audit prep.

Plan audits repeat the same tests every year. CORAA AI drafts the standard working papers from the plan’s books; the plan testing stays with your team.

How it runs

  1. 01
    Set the scope

    Your firm decides the scope of the audit and tells us. CORAA drafts the file for that scope.

  2. 02
    Send the plan records

    Plan document, census, payroll registers, trustee or custodian statements, administrator reports and the prior Form 5500.

  3. 03
    CORAA drafts

    The standard pack is built from the plan’s books: accounts classified, the draft statements tied out and the ledger tested. Plan-specific schedules and testing stay with your team.

  4. 04
    You test and conclude

    Your team works the exceptions, concludes on the tests and signs the report.

What comes back

Lead schedules and tie-out
The plan’s books classified to statement lines and the draft statements tied out.
Ledger checks
Fixed rules over the ledger, each finding naming its rule, with a proposed entry where one applies.
Plan testing stays with your team
Participant data, contribution remittance, loans and distributions are tested by your team.

What stays with your firm

Your firm keeps the client, the review and the signature. CORAA AI drafts the file and CORAA Network reviewers clear every flag with a logged reason; your manager and partner then review it as they would any staff-prepared file. CORAA never signs, issues or reports on anything, and never contacts your client unless you ask us to.

Free resources for this work

Guides, templates and calculators on this site that cover the same ground. All free to use.

GuidePlan Audit Prep: Testing Participant Data, Contributions and Late DepositsTemplateEmployee Benefit Plan Participant Data Testing WorkpaperTemplateContributions and Remittance Testing Workpaper (Retirement Plan)TemplateParticipant Loans and Benefit Payments Testing WorkpaperTemplate401(k) Plan Audit PBC ListTemplateForm 5500 Schedule H to Financial Statement ReconciliationGuideEmployee Benefit Plan Audit Timeline: Form 5500 Due Dates, Form 5558 and the Automatic ExtensionToolForm 5500 Audit Requirement Calculator: 100-Participant Test and 80-120 Rule

Questions firms ask

No. The filing stays with the plan and your firm.
Only the census fields the tests need. An NDA and a data processing agreement are signed before upload.
Your firm. See the employee benefit plans industry page for the rule on certified assets.
Yes. Each audit is a flat fee by entity size, and the first is free.
Your first audit is free. After that, a flat fee per audit, set by the size of the entity: revenue, transactions and number of entities. Messy books are included, never a surcharge.

Sources: AICPA Statements on Auditing Standards, currently effective

More in use cases
Use casesSingle audit prepThe threshold rule, what to send and what stays with your team on a single audit file.Use casesNew engagement onboardingTake on a new client with the planning file already started.Use casesBusy-season overflowSend the files your team cannot reach and get back finished working papers.
For US CPA firms

Join the CORAA waitlist

CORAA AI drafts audit working papers from your client’s QuickBooks books and does the first pass: lead schedules, tie-out, memos, draft notes and letters. CORAA Network reviewers clear every finding. Your firm reviews and signs.

  • First audit free, so you can judge the quality on a real file
  • Flat fee by entity size; messy books included
  • We work only with CPA firms, never their clients
See how it works →

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