About Dennis G Jenkins, CPA

Here is what we know:

• Auditors consistently state that the #1 challenge to their job is providing greater audit assurance to clients.
• Most auditors employ manual sampling techniques that leave large segments of the population unaudited.

There are two main causes of inadequate employee benefit plan audits:

• Manual Sampling: Historically auditors are taught to employ manual sampling techniques that leave large segments of the population unaudited. Auditors have to try to manage their time while simultaneously providing the assurance required by their clients. So they decrease their audit scopes and raise their audit fees. Only relying on small segments of data to produce an audit opinion.
• Lack of Technical Skills: To properly audit large quantities of data, the auditor must have technical skills that are above and beyond typical computer operation skills. By default these auditors can not audit 100% of audit populations and throughout the audit process, information is not being audited.

Ultimately, the best-case scenario would be--instead of a hiring an auditor to conduct manual sampling--an audit system would be used to electronically audit large portions of records without manual human involvement. Imagine if an audit system could electronically audit hundreds of thousands of employer and employee contributions electronically, and have a system that could bring better audit assurance to clients.

Quite simply, that's ePayroll Auditor by Dennis G Jenkins, CPA.