Human Interest Offers Automated 401(k) Plan Audits

Human Interest Inc., a 401(k) provider, is now providing midsize businesses with an automated auditing process for 401(k) plans. Audit Relief can automate more than 15 manual tasks and combine 20 data sources into a single, audit-ready package, according to the announcement.

Annual audits are legally required for 401(k) plans with more than 100 participants. As it developed Audit Relief, Human Interest consulted with certified public accounting firms over a six-month period and learned that an audit ordinarily costs at least $10,000, and auditors typically spend dozens of hours compiling data, yet only cover a small portion of a plan’s total transactions.

According to Human Interest, starting in plan year 2026, Audit Relief customers can choose a 401(k) auditor from a curated network, and the resulting audit will cover 100% of a plan’s transactions and be completed and validated in only five hours. Customers will also receive a credit for the value of their standard plan audit.

“Annual plan audits have been a source of dread for business owners for decades,” said Rakesh Mahajan, Human Interest’s chief revenue officer, in a statement. “After speaking with more than a dozen auditors, it is clear that they see this technology will drive down the cost of audits—some even suggested reductions of over 50%.”

Last month, Human Interest expanded its customer experience guarantee, saying if it fails to meet the standards it has set for customers, plan sponsors will get a 50% credit toward their next invoice. Participants also receive a $25 gift card for any missed benchmark.