When auditing employee benefit plan, you not only need to know auditing guidance but due to the uniqueness of these audits, you need to understand compliance requirements as well. Pairing these two together and keeping track of all documentation needed can be challenging. This webcast will help you identify those unique audit areas and provide various working paper examples that will assist you in understanding these specialized audit procedures and the documentation necessary to perform an audit in accordance with the applicable standards. You will work through the testing of audit areas such as participant data, contributions and contributions receivable, benefit payments, parties in interest and prohibited transactions, subsequent events, commitment and contingencies, and administrative expenses and gain knowledge of key audit deficiencies.
In addition, throughout this webcast, you will participate in group exercises which include specific working papers in order to understand what is required for documenting your audit procedures. You will gain an understanding of the audit reporting requirements, financial statements, including note disclosures, as well as the communications to those charged with governance.