Description

One of the most favored employee benefit plans, the 401(k) plan, provides unique challenges for auditors.

Through this course, auditors will obtain an understanding of the rules and regulations unique to employee benefit plans and obtain practical guidance on applying them. Auditors will enhance their knowledge of the performance and reporting requirements through real-world examples, best practices, and efficient audit techniques that can be utilized in various audit engagements. Make sure your audits don’t trigger a DOL inspection by conforming to all applicable rules and regulations.

Instructor: Melissa Critcher, CPA, PC

Target Audience

Practitioners responsible for planning and performing employee benefit plan audit engagements

Course Objectives

Identify the key provisions of recently issued SASs

Properly document understanding of the plan, the environment, and internal controls for an employee benefit plan

Understand the importance of reading, reviewing, and documenting the controls in a service organization control report

Identify potential audit triggers that may result in Department of Labor inspections

Understand the risks associated with a benefit plan audit engagement

Avoid common mistakes noted during peer reviews

Subjects

Proper planning of benefit plan audit engagements and developing audit strategy while improving overall efficiency

Common pitfalls in planning and detailed audit procedures

Changes affecting 401(k) plans, including recently issued SASs

Common mistakes as noted in peer reviews and DOL inspections

Prerequisites

Basic understanding of auditing defined contribution plans