Audits of Employee Benefit Plans Subject to ERISA

Overview

Employee benefit plan

Employee benefit plan audits are examined to help you understand the intricacies of EBP planning, reporting and compliance with applicable auditing standards.

Course Instructor: Randy M. Dummer

Highlights

Audit planning and pre-engagement activities

Risk assessment, including consideration of internal control

Auditing the statement of net assets available for benefits

Auditing the statement of changes in net assets available for benefits

Other auditing considerations, including prohibited transactions and tax compliance

The auditor's report

Financial statement disclosures

Supplemental schedules

Prerequisites

None

Designed For

Auditors of employee benefit plans

Practitioners considering adding EBP audits as a service offering

Accountants in business and industry responsible for company benefits

Objectives

Recognize key terms and definitions related to ERISA plans.
Identify the different types of employee benefit plans (EBPs).
Recognize operational and compliance elements of ERISA plans
Identify the basic financial statements for all ERISA plans.
Recognize differences between GAAP and ERISA reporting.
Identify the risks of material misstatement related to financial statement line items on the statements of net assets available for benefits.
Recognize audit procedures commonly performed in a defined contribution retirement plan (DC plan) audit, including notes receivable from plan participants.
Identify audit requirements when using the work of a specialist.

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by AICPA (do_not_reply@on24event.com). Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.