Compass IT Compliance Blog / SOC 1

The Importance of SOC 1 Reports in 401(k) Audits

by Jerry Hughes on November 22, 2024 at 12:00 PM

401(k) plan administrators manage crucial financial transactions, including contributions, distributions, loans, and account reconciliations. Errors or fraud in these activities can have significant financial implications for plan sponsors (employers) and participants (employees). A S …

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