Limited Scope Audits
Sloan & Company's accountants have received regular specialized training for performing retirement plan audits. In addition to full-scope retirement plan audits, Sloan & Company also performs limited scope audits, as allowed in specific circumstances by the Employee Retirement Income Security Act (ERISA).
In a limited scope audit, certified investments that meet qualifying standards are not reviewed or tested. Instead, the auditors rely on investment information that has been certified. As a result, the auditor cannot provide an unqualified opinion on the plan's financial statements as they would in a full-scope audit, and instead provides a Disclaimer of Opinion.