What is typically included in a compliance audit for employee benefits?

A compliance audit for employee benefits primarily focuses on evaluating whether the organization is adhering to relevant laws and regulations, making it crucial for maintaining legal and ethical standards in administering employee benefits. This typically includes reviewing compliance with the Employee Retirement Income Security Act (ERISA), the Affordable Care Act (ACA), and other applicable federal and state regulations that govern employee benefits.

The audit examines various aspects such as plan documentation, reporting, disclosure requirements, and adherence to non-discrimination rules. By focusing on compliance, organizations can identify potential gaps or areas of concern and proactively address them to minimize the risk of penalties or legal challenges.

Other options, while relevant in different contexts, do not align with the primary purpose of a compliance audit. Financial projections are related to budgeting and strategic planning rather than compliance. Employee attendance records pertain to workforce management, and the analysis of employee personal data involves privacy considerations, which, although important, fall outside the scope of a compliance audit focused on benefits regulations.