Course

**CANCELLED** Auditing Financial Statements of ERISA Plans

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Event Details

Monday, July 26, 2021

8:00am – 11:30am
(Registration: 7:30am)

Location

Hilton Garden Inn

2465 Grant Rd

Billings, MT 59102

406-655-8800

Field of Study

  • Auditing

CPE Credit

4 hours CPE credit

Course Code

CL4NAAB-08

Instructor

Level of Knowledge

Basic

Vendor

AICPA

Prerequisites

None

Description

All materials will be electronic only

Employee benefit plan (EBP) audit engagements continue to be scrutinized by regulators and peer reviewers, due to a history of noncompliance with applicable professional standards. Auditors are required to have proper skills to perform EBP engagements effectively. In this course, you will focus on auditing the statement of net assets available for benefits and the statement of changes in net assets available for benefits. As the most common type of plans audited, you will take a deep dive into defined contribution plans to comply with professional standards, ERISA and SEC requirements. Tap into ways to plan and conduct effective risk-based plan audits to comply with professional standards while maximizing efficiency.

Highlights

  • Auditing the statement of net assets available for benefits
  • Types and classification of common plan investments
  • Plan investment audit objectives and audit procedures based upon type of audit and risk assessment
  • Auditing the statement of changes in net assets available for benefits
  • Audit procedures required for investment income, investment expenses, contributions and benefit payments or withdrawals
  • Presentation and disclosure requirements in accordance with GAAP
  • Implementation of SAS Nos. 134–140

Objectives

When you complete this course you will be able to:

  • Recognize the line items of the statement of net assets available for benefits
  • Indicate the activity reflected in the statement of changes in net assets available for benefits
  • Identify presentation and disclosure requirements for plan investments and other assets
  • Distinguish applicable auditing standards based upon implementation of SAS Nos. 134–140
  • Understand plan investments, as well as management and auditor responsibilities
  • Recognize audit procedures commonly required in a 401(k) plan audit

Designed For

Auditors of EBPs, practitioners considering the addition of EBP audits as a service offering and accountants in business and industry responsible for company benefits.

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