Independent Auditors Report

Can you please let me know if an independent auditors report needs to be prepared for a final Form 5500 where the plan year is a short plan year 07/01/02 - 12/31/02. More than 400 participants. The most recent audit report is for the year ended 06/30/02.

Thanks.

Being a final, short plan year is not an exception to the rules requiring an audit. Given the number of participants, it appears that audit is required for the short year, unless some other exception applies.

I agree with Tom, the measuring point is the first day of the plan year. If over 100, then audit required. Last short year not an exception as there will be no further reports.