Employee Benefit Plan Best Practices

Overview

Employee benefit plan audits present unique compliance and audit considerations that require auditors to remain alert to both recurring issues and evolving requirements. This course addresses current standards and developments affecting employee benefit plan audits while focusing on practical considerations encountered during EBP engagements. Participants will review common compliance issues identified in 401(k) plan audits and considerations related to correcting those issues. The course also covers best practices for audit areas such as participant data, payroll and compensation, contributions and remittances, participant loans, hardship distributions, investments, distributions, investment income allocations, and plan mergers and acquisitions. The program is designed for auditors of employee benefit plans who have basic knowledge of EBP audits and want to review best practices, common compliance issues, and considerations that arise during EBP audit engagements.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Highlights

The major topics that will be covered in this course include:

• Current standards and developments affecting employee benefit plan audits
• Compliance considerations in employee benefit plan engagements
• Common compliance issues identified in 401(k) plan audits
• Correction of 401(k) plan compliance issues
• Participant data
• Payroll and compensation
• Contributions and remittances
• Participant loans
• Hardship distributions
• Plan investments
• Participant distributions
• Investment income allocations
• Plan mergers and acquisitions
• Audit best practices for employee benefit plans

Prerequisites

Basic knowledge of EBP audits

Designed For

Auditors of employee benefit plans who have basic knowledge of EBP audits and want to review best practices, common compliance issues, and considerations that arise during EBP audit engagements

Objectives

After attending this presentation, you will be able to...

• Identify best practices for audit procedures in key employee benefit plan audit areas.
• Recognize common compliance issues encountered in 401(k) plan audits and appropriate correction considerations.

Preparation

None

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 CPA Crossings.