Audits of Employee Benefits Plans Conference
Live Virtual Conference
8.00 Credits
Member Price $375.00
Price will increase by $50 on 5/3
Non-Member Price $475.00
Price will increase by $50 on 5/3
Overview
Find practical, up-to-date information you need to deliver efficient and effective EBP audits. Gain new perspectives to navigate challenges and maintain compliance in the specialized area of employee benefit plan audits.
Highlights
View the "agenda" tab above for the full conference schedule.
Designed For
CPAS, auditors and other financial professionals who are responsible for auditing employee benefit plans
Notice
- This conference is co-sponsored and administered by the Minnesota Society of CPAs.
- Login information and eMaterials will be distributed to attendees via email 3-5 days prior to the conference and posted in the My Upcoming CPE section of the ISCPA website.
Monday, May 20
General Session
8:00am - 9:20am CDT Department of Labor Update
Within the Department of Labor, the Office of the Chief Accountant (OCA) monitors compliance with reporting requirements for all ERISA-covered employee benefit pension and health and welfare plans. Hear directly from Lynne McMennamin, assistant chief in the OCA’s Division of Reporting Compliance, about the OCA, why it matters to you and how it affects Form 5500 filings.
Explore findings from the most recent Audit Quality Study, issued in December 2023. Learn about common reporting deficiencies (and how to avoid them), types of OCA enforcement actions and how to help clients comply with ERISA regulations. Gain clarity on the types of notices your clients might receive, how you can help navigate them and what you can do to ensure your audits are satisfactory.
Speaker: Lynne McMennamin, CPA
This session is available to registrants only.
General Session
9:30am - 10:45am CDT Impact of Recent Auditing Standards on Employee Benefit Plans
New auditing standards may require changes in your firm’s audit methodology, especially in performing EBP audit risk assessments. Look at recent auditing standards (SAS No. 142-145) that may impact the 2024 ERISA employee benefit plan audit season, including audits of ERISA plan financial statements for periods ending Dec. 31, 2023. Make sure you’re up to date so your audits are conducted in accordance with professional standards and carried out efficiently and effectively. Find out when additional documentation is required and get tips to reduce the risk of deficient audits. Come away with valuable insights and a broader perspective on how others are implementing the new standards.
Speaker: Darlene Bayardo, CPA
This session is available to registrants only.
General Session
10:55am - 11:45am CDT Audit Implications of Plan Changes
Anytime an employee benefit plan endures a change – from switching providers or terminating a plan to EBP freezes, mergers or other big events – there are downstream audit implications and risks. Examine these scenarios and the impact they have on your audits. Find out what to look for and how to adjust your audit approach to address the additional risks that accompany plan changes.
Speaker: Randy Dummer, CPA
This session is available to registrants only.
General Session
12:45pm - 1:35pm CDT Recent Findings in Peer Review
Peer review findings shed light on important issues and opportunities for your audit practice. Look at real-life examples of issues identified in recent peer reviews that have implications for all EBP audits. Learn what peer reviewers are looking for and how to avoid problems. Plus, review professional standards in a variety of areas, including ERISA audits, through the lens of peer review findings.
Speaker: Randy Dummer, CPA
This session is available to registrants only.
General Session
1:45pm - 2:35pm CDT Compensation and Testing Compliance: What’s the Big Deal?
The definition of compensation is a very common compliance issue with 401(k) plans. Compensation comes in many forms and can be very complex. Not adhering to the compensation definition, or failing compliance testing, can lead to costly tax qualification issues for plan sponsors. Learn about common issues with following the plan’s definition of compensation, what compensation is included and excluded, and how compensation is intertwined with compliance testing. Examine the various compliance tests that apply to defined contribution plans. Find out how to design audit procedures to detect issues with compensation and compliance testing, as well as how to navigate issues that arise.
Speakers: Debra Linder, JD/MA, CPA; Kristin Tveit, CPA
This session is available to registrants only.
General Session
2:50pm - 4:30pm CDT Panel Discussion: Ask the Experts
This interactive session highlights the unique perspectives of a variety of seasoned leaders in the employee benefit plan auditing space. Hear from Lynne McMennamin, Darlene Bayardo and Randy Dummer about pressing hot topics affecting your work.
Speakers: Darlene Bayardo, CPA; Randy Dummer, CPA; Marjorie Heap, CPA; Lynne McMennamin, CPA
This session is available to registrants only.
Leader(s):
Leader Bios
Darlene Bayardo
Darlene Bayardo, founder of Bayardo Accounting and Consulting, PC, brings over 25 years of experience in national public accounting and private sectors. Specializing in audits of employee benefit plans, she focuses on ERISA audit quality and risk management. Darlene’s expertise extends to technical consultations, audit and accounting guidance, and training programs for EBP auditors. She is a member of the California Society of CPAs and chairs its annual EBP conference planning committee. She also serves on the AICPA Employee Benefit Plan Audit Quality Center Executive Committee.
Debra Linder
Debra J. Linder, JD/MA, CPA, is a shareholder in the compensation planning and employee benefits group at Fredrikson & Byron, P.A. She advises large and small public, closely held and tax-exempt employers on plan design, administration and compliance issues. She speaks frequently to professional and business groups about recent developments in benefits and executive compensation. In the past, she served as adjunct faculty at the University of St. Thomas, teaching courses in the administration of retirement and welfare benefit plans.
Kristin Tveit
Kris Tveit, a principal with CliftonLarsonAllen in the Benefit Services Group, has over 30 years of experience in public accounting. She specializes in assurance, tax and consulting for various employee benefit plans, including 401(k), profit sharing and defined benefit plans. As the national practice leader for CLA's employee benefit plan audit practice, Kris spearheads audit approach development and firm-wide initiatives for operational excellence. She's a seasoned speaker at prestigious conferences and is a former member of the AICPA Employee Benefit Plan Expert Panel. A CPA licensed in Minnesota, she also co-authors employee benefit plan audit work programs and actively contributes to professional organizations like the AICPA and the MNCPA.
Lynne McMennamin
Lynne McMennamin, Assistant Chief in EBSA's Office of the Chief Accountant (OCA), brings over 20 years of experience in employee benefit plans, including a decade as a partner in an international accounting firm. Lynne has held leadership roles in the AICPA Employee Benefit Plan Expert Panel and the AICPA Employee Benefit Plan Audit Quality Center Executive Committee. She holds a Bachelor of Science degree in Accounting (cum laude) from the University of Maryland College Park and is a licensed CPA in Maryland.
Marjorie Heap, Director
Marjorie H. Heap, CPA, a senior manager with Eide Bailly, LLP, has experience in all phases of employee benefit plan engagements including planning, execution and quality control. In addition, she has a wide variety of public accounting experience covering all levels of financial statement service across several industries, developing and teaching training programs, and involvement in various levels of firm quality control.
Randy Dummer
Randy Dummer, a quality control partner at HHM since 2011, leads various firm initiatives including peer review practices and employee benefit plan audits. With expertise spanning multiple industries like auto dealerships and nonprofits, Randy is a nationally recognized specialist in employee benefit plan audits. He's earned the AICPA Outstanding Discussion Leader Award eight times and regularly teaches on topics such as audits of 401(k) plans. He's a speaker at conferences like the AICPA Employee Benefit Plan National Conference, and he contributes to peer review committees, enhancing the quality of accounting services. Randy is an approved ERISA audit specialist for the AICPA enhanced oversight project.
Non-Member Price $475.00
Member Price $375.00