After a national search and interviews with three finalist firms, Emeriti has arranged with Insero & Company, a Rochester, New York-based audit and accounting firm associated with a large national network, to provide Emeriti Plan audit services for member institutions, at a reduced rate.  

Insero & Company is an integral member of the RSM McGladrey Network, the national accounting firm association of RSM McGladrey, Inc. and McGladrey and Pullen, LLP, together forming the fifth largest provider of accounting, tax and business consulting in the U.S.  (For more information about Insero, click here.)   Through this national network, Insero & Company can accommodate all member institutions that wish to participate.  Insero will be meeting with Fidelity, Emeriti's master record keeper, to review all data, including the 5500 package that Fidelity produces annually for each member institution.

Fee structure

For 2008, Emeriti has negotiated the following  fee structure:  for institutions with up to 250 plan participants, the fee is $6000; for institutions with 251-2500 participants, the fee is $6750; for institutions with over 2500 participants, the fee is $7500.  There will be a 5% discount if at least 20 Emeriti institutions utilize Insero for their audits. 

The audits will be limited scope in nature and will take place via phone and email.  On-site audits will be available by request for a higher fee.  We trust that this arrangement meets the needs of our member institutions and will help to reduce the time, effort, and expense of conducting an audit of the Emeriti Plan.

Who to contact

If you would like to talk to Insero about an audit, please contact Michael Giess, CPA, Partner, at 585-697-9639, or Mike.Giess@INSEROCPA.COM.  Insero would like to have a preliminary conversation by May 15th with any institution that is likely to select the firm for its audit.