Dalbar Inc. has revised its audit program for fiduciary advisors to accommodate a new regulation.

The new regulation extends an auditing requirement to advisors that serve individual retirement account plans and do not qualify under a level-fee structure provision, according to DALBAR, Boston.

The regulation permits IRA and 401(k) plan participant advisors to continue to earn commissions and 12b-1 fees, but only if the advisors are subject to an annual audit for compliance with federal retirement investment advisor rules.

The DALBAR Adviser Audit program includes preparation for the audit and a formal report on compliance with Section 408(b) of Employee Retirement Income Security Act and related regulations, DALBAR says.