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ESOPs

About this topic

Based on the AICPA Competency Framework: Employee Benefit Plan Auditing, these learning resources are designed to enhance CPAs’ knowledge and skills necessary to perform high-quality employee benefit plan audit engagements. Use these resources to build competencies around auditing employee benefit plans and set yourself apart in the market so that clients and employers feel confident in your work and ability to conduct these audits.

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Firm Preparedness Checklist for Employee Benefit Plan Audits

This checklist is a non-authoritative practice aid to assist member firm designated ERISA audit partners in assessing their firm's preparedness for the ERISA audit...

Tool Defined contribution plans Intermediate

Employee Benefit Plans - Parties in Interest and Prohibited Transactions

This document provides general information about employee benefit plan parties in interest and prohibited transactions under ERISA.

Report Prohibited transactions/tax considerations Foundational

Employee Stock Ownership Plans

​This primer provides a general understanding of employee stock ownership plans (ESOPs), and includes topics on operations and record keeping, tax benefits and related...

Report Parties-in-interest/prohibited transactions Foundational

Professional Ethics Most Frequent Violations of Professional Standards Employee Benefit Plan Investigations

The AICPA Professional Ethics Division has compiled this list of quality issues found in its investigations of employee benefit plan audits over the last two years.

Report Defined contribution plans Foundational

Documentation of Use of a Type 2 Service Auditor’s Report in an Employee Benefit Plan Financial Statement Audit

The tool is intended to assist members in documenting procedures and findings related to controls at a service organization.

Report Internal controls/service organizations Intermediate

Performing Quality ERISA Employee Benefit Plan Audits: Firm Best Practices

Designed to assist you in identifying and implementing best practices for your firm’s ERISA employee benefit plan audit practice.

Tool Defined contribution plans Advanced

Employee Benefit Plan Financial Statements: Who is Involved?

​This document provides an overview of the parties that may be involved in EBP financial reporting process.

Article Defined contribution plans Foundational

Employee Benefit Plans DOL Criminal Enforcement Cases January 2006 – September 2014

This document is intended to assist members in their consideration of fraud in employee benefit plan financial statement audits.

Report Audit risk assessment Foundational

Documentation of Review of AICPA Independence Requirements Where Nonattest Services Are Performed for an Employee Benefit Plan Audit Client

This tool is intended to assist CPAs performing nonattest services for employee benefit plan audit clients in documenting the nonattest services impair their...

Tool Defined contribution plans Advanced

Examples of Internal Control Communications for Employee Benefit Plans

​This document provides guidance on preparing internal control communications to employee benefit plan clients.

Report Internal controls/service organizations Foundational

Fraud Risk Factors Specific to Employee Benefit Plans

This document will assist in the consideration of fraud in employee benefit plan audits.

Report Audit risk assessment Foundational

Annual Internal Inspections: A Key to EBP Audit Quality, Best Practices in Firm Inspections of ERISA

This document to provides information for planning and performing the required annual internal inspection of your firm's ERISA employee benefit plan audit practice.

Tool Defined contribution plans Intermediate