CPE: 8 hours
Category: Accounting & Auditing
Advanced prep: None
Who should attend: CPAs and auditors who provide employee benefit plan audit and accounting services; benefit plan administrators and employees of companies responsible for accounting and reporting for benefit plans.
Master the fundamentals of auditing employee benefit plans in accordance with AICPA and EBSA standards and avoid problems that are all too often encountered. We'll explore accounting and auditing requirements unique to employee benefit plans, as well as the requirements and audit procedures related to defined contribution, defined benefit, and health and welfare plans to more effectively plan and carry out your audit.
Formally titled: Employee Benefit Plans: Mastering the Fundamentals
Upon completion of this course, participants will be able to identify:
- audit employee benefit plans in accordance with AICPA and EBSA standards;
- how to design specialized audit tests;
- how to plan the scope of an audit;
- the structure of more popular employee benefit plans;
- accounting requirements unique to employee benefit plans; and
- audit deficiencies and how to avoid them.
- Plan types and recent developments
- Accounting and reporting standards unique to plans, including GAAP vs. ERISA requirements
- Filing and audit requirements
- Audit planning and risk assessment
- Internal controls unique to plans
- Auditing 401(k) and other defined contribution, employee stock ownership, defined benefit, and health and welfare benefit plans.
- Prohibited transactions
- Tax compliance
- ERISA schedules