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Documenting Your EBP Audit: What You Need to Know Logo aicpa

  Free |   CPE: 8.0 |   AICPA |   06 Apr 2020 |   Accounting |   AICPA Store

The Association, the global voice of the American Institute of CPAs and the Chartered Institute of Management Accountants, is taking the Coronavirus (COVID-19) very seriously. We are continually monitoring the virus’ impact on our members and the profession. For the most up-to-date information on this topic, please visit the AICPA’s Coronavirus Resource Center.

Who Will Benefit?
  • CPAs
Key Topics
  • Audit planning
  • Toolkit items for an EBP Auditor
  • Documentation best practices for the statement of net assets available for benefits
  • Key audit areas in the statement of changes in net assets available for benefits
  • Participant data and participant accounts
Learning Objectives
  • Recognize areas in employee benefit plan audits that lead to documentation deficiencies.
  • Recall how to document risk assessments in an EBP audit.
  • Identify the aspects of documentation that provide audit evidence.

New ways to think about your audit documentation

Employee benefit plans are a unique entity, and the performance of audit procedures will involve testing items that are not typically tested in audits of other types of entities. Even experienced auditors may find it difficult to ascertain exactly what documentation is sufficient.

Real examples and real solutions

We’ll tackle the areas in EBP audits that need detailed documentation to support the audit conclusions. By the end of this webcast, you’ll be able to:

  • Understand the professional standards that relate to audit documentation.
  • Apply the standards when performing EBP audits.
  • Work through a comprehensive approach to audit documentation.
  • Develop a plan at your firm that provides a consistent approach to EBP audit documentation.
Topics covered:
  • Employee benefit plan auditing: Technical: Defined contribution plans, Foundational
  • Employee benefit plan auditing: Technical: Defined benefit plans, Foundational
  • Employee benefit plan auditing: Technical: Health & welfare plans, Foundational