Auditing Financial Statements of ERISA Plans

Overview

You’ll gain an understanding of the statements, disclosures and considerations for plans that file Form 11-K, and learn ways to plan and conduct effective risk-based ERISA plan audits.

Highlights

Auditing the statement of net assets available for benefits

Types and classification of common plan investments

Plan investment audit procedures based on type of audit and risk assessment

Auditing the statement of changes in net assets available for benefits

Audit procedures at the participant level required for investment gains (losses), contributions and benefit payments or withdrawals

Presentation and disclosure requirements in accordance with GAAP

Audit considerations related to related parties, parties in interest, prohibited transactions, a plan's tax status, and Form 5500 and Form 11-K filers

Prerequisites

None

Designed For

Auditors of employee benefit plans

Practitioners considering the addition of EBP audits as a service offering

Accountants in business and industry responsible for company benefits

Objectives

Identify auditing procedures for the statement of net assets available for benefits and the statement of changes in net assets available for benefits.
Recognize the types and classification of common plan investments.
Distinguish plan investment audit procedures based on type of audit and risk assessment.
Identify audit procedures at the participant level required for investment gains (losses), contributions, and benefit payments or withdrawals.
Recognize the presentation and disclosure requirements in accordance with GAAP.
Identify audit considerations for related parties, parties in interest, and prohibited transactions; a plan's tax status and Form 5500; and Form 11-K filers.

Notice

This course is offered by a 3rd party vendor and will not be accessible in the My CPE Tracker section of the ISCPA website. Course access information will be emailed directly to you by AICPA.

Fees

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Randy Dummer

Leader Bios

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.

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