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The Department of Labor (DOL) has updated their guidelines about what constitutes an independent accountant for ERISA health plan audits. According to a press release, the DOL has removed or updated multiple existing provisions related to the audits, including policies surrounding the financial interests of the auditor.

ERISA, or the Employee Retirement Income Security Act, aims to set standards for retirement and health plans and prevent potential abuse. Under ERISA, an audit of these plans must be done yearly by an “independent qualified public accountant.”

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