Auditing Financial Statements of ERISA Plans (4 hours)

Overview

Understand the statements, disclosures, and considerations for plans that file Form 11-K, as well as the impact of SAS No. 136. 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 upon 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 and prohibited transactions, a plan's tax status and Form 5500, and Form 11-K filers, and related changes introduced by SAS No.136

Designed For

Auditors of employee benefit plans, practitioners considering the addition of EBP audits as a service offering, and 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 upon 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; Form 11-K filers; and related changes introduced by SAS No.136.

Notice

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