Description

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

Target Audience

- Auditors of employee benefit plans

- Practitioners considering adding EBP audits AS A service offering

- Accountants in business and industry responsible for company Benefits

Course 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.

Subjects

- 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