Labour market · 06/09/2022

Interpretive Bulletin Relating to the Independence of Employee Benefit Plan Accountants

The Department of Labor has issued an Interpretive Bulletin clarifying the conditions for a qualified public accountant to be considered independent for auditing and opinion purposes under the Employee Retirement Income Security Act of 1974 (ERISA). The revised guidelines aim to remove outdated provisions and ensure plan administrators retain independent accountants for annual examinations and opinion rendering.