Accounting Firm Expands Audit Practice to Include 403(b)s

May 27, 2010 ( - CNM LLP, an independent accounting and advisory services firm has announced the expansion of its Employee Benefit Plan Audit practice to include 403(b) plan audit services for nonprofit organizations.

CNM is making the move in response to new regulations issued by the Department of Labor, the Internal Revenue Service and the Pension Benefit Guaranty Corporation, that subject 403(b) plans to the same Form 5500 filing requirements as 401(k) plans, effective with the 2009 plan year filing, according to the announcement. CNM’s Employee Benefit Plan Audit practice, which is led by John Russon, CPA, performed nearly 70 employee benefit plan audits in 2009.   

“The market for benefit plan audits is highly fragmented with several thousand firms auditing less than five plans,” said Russon, in the announcement. “We believe that our specialized expertise combined with our commitment to delivering a high level of client service at the right price has enabled us to build a leadership position in this fragmented market.”   

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