CPE: 8 hours
Category: Accounting & Auditing
Prerequisites: Experience with the employee benefit plan audit process and a working knowledge of ERISA.
Advanced prep: None
Who should attend: CPAs with experience auditing defined contribution and defined benefit plans.
Go beyond the basics of preparing workpapers and financial statements and explore advanced issues related to auditing employee benefit plans. Through group discussions and case studies, you'll explore advanced issues of financial statement reporting for employee benefit plans, as well as gain the necessary tools to successfully handle challenging issues, such as communication and coordination difficulties between the plan sponsor, the auditor and various service organizations.
Formerly titled: Overcoming the Auditing Challenges of Defined Contribution Plans
- Identify different types of defined contribution plans available to plan sponsors.
- Recognize complex audit and accounting issues associated with defined contribution plans.
- Determine different types of investment options that may be available to participants, including the audit procedures for complex investments.
- Identify various fraud examples and develop appropriate audit responses.
- Identify rules and regulations associated with auditing and reporting for defined contribution pension plans.
- Plan types
- Defined contribution plans: Planning, communication and other activities
- Investments and investment related income
- Auditing participant data, contributions and distribution
- Employee benefit plan fraud
- Government regulations and reporting requirements
- Comparing audited financial statements to Form 5500
- Legal counsel representations
- Case studies and discussion questions