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Auditing Financial Statements of ERISA Plans

Overview

Conduct a compliant audit

  • Identify proper audit procedures to test the line items of the statement of net assets available for benefits, including investments.
  • Identify proper audit procedures to test the activity in the statement of changes in net assets available for benefits, including participant testing.

    Plan investments
  • Differentiate plan investment procedures based upon the type of audit and risk assessment.
  • Identify types and classifications of common plan investments.
  • Identify audit procedures required for investment activity, contributions and benefit payment or withdrawals at the participant level.

    GAAP presentation and disclosure
  • Understand GAAP requirements for presentation and disclosure for employee benefit plan financial statements.

    Other audit considerations
  • Recognize procedures needed to determine the plan's tax status
  • Learn how to identify related parties, parties in interest, and prohibited transactions.
  • Recognize additional audit procedures needed for Form 11-K filers.

    Prerequisites

    None

    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.

    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

    Register Now

    Materials are generally available 3 days in advance of an event. Once you have downloaded the manual, we are unable to cancel your registration.

    • Event Code:

    4514460

    4 CPE Credits
    Accounting: 2 Credits Auditing: 2 Credits

    Registration

    Member Price:
    $213
    Non-member Price:
    $261

    Registration is open through 05/16.

    Friday, May 16th

    9:00am to 1:00pm

    Add to Calendar

    Instructor

    Randy Dummer

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