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Compliance Review Audits

of Your IRAs, SEPs

and Qualified Plans

Non-compliance is Widespread
Unfortunately, many IRS and CWF-audited banks have recently shown a number of compliance deficiencies in plan opening, a mending, reporting, record-keeping and other areas of account maintenance. Though per-account and per-error penalties may seem modest, the same mistakes tend to repeat themselves throughout an institution's record keeping system. An audit now is a comparatively painless and inexpensive safeguard against potentially GREAT liability.

Qualifications You Can Trust
Collin W. Fritz and Associates, Ltd. is especially suited to audit your IRA and Qualified Plan files. With some of the best legal and consulting professionals in the business, you can rely on our mastery of up-to-the-minute compliance issues.

What does the Audit Encompass ?
  • CWF will review your tax-preferred account files
  • CWF will give a verbal overview of audit findings on the day of the audit
  • CWF will write a comprehensive report dealing with any deficiencies and recommended procedure changes. This audit report will be a resource to help with your internal compliance procedures
CWF offers two types of audits:
  1. On-Site audit
    You want an on-site audit if you want the CWF auditor to have full access to your customer files computer files, forms, research documentation and your IRA personnel. This access will allow the auditor to determine the strengths and weaknesses of your institution's IRA work product.
  2. Mail-In Audit
    Very similar to an on-site audit, except CWF will instruct you what files we wish to examine. After reviewing a list of your tax-preferred accounts and asking various questions you will be asked to photocopy various files, computer reports, forms, etc. and ship them to CWF for a comprehensive review.
Here is What We Will Do
  • Our experienced auditing staff will directly review your IRA, QP and/or SEP files for compliance in the areas of: IRS and customer reporting.
  • Amending in accordance with all IRS regulations.
  • Deposits and distributions (especially RMDs).
  • Documentation.
  • Rollovers, direct rollovers and transfers.
  • Plus other needs as your situation requires

When Your Audit is Completed You will receive a comprehensive written report. We will specifically inform you of what must be done to bring your accounts into compliance.

Our Fee is Reasonable
Our audit fees are priced on a quotational basis. Whenever possible, we will coordinate your audit with others in your region to minimize costs to you.

Multi-Day Audits
While many financial institutions can have their IRA or Qualified Plan files adequately reviewed for compliance in a single day, there are circumstances in which a multi-day audit may be recommended in order to render a more reliable compliance opinion.

  • Such situations include: very large number of files to be reviewed;
  • Multi-branch/office situation, with a potential for inconsistent administrative practices among these offices;
  • Acquisition of a bank or bank group, with a substantial potential for non-compliance exposure.

Special Multi-Day Audit Rate
We would like to encourage use of the multi-day audit option when it will be in a financial institution's best interest to do so. We have structured our additional-day fees in order to make this option attractive.

Follow-up Audit
Implementation of audit recommendations may be subject to human performance variables, staff changes, new internal procedures, etc.
If significant compliance problems were found, you may wish to request a follow-up or "tune-up" audit one to three years after your initial audit to ensure that proper administrative practices are in place and are being followed.

If you desire information on a compliance audit
call our customer service representative at


Catalog Audit Page


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