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.

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 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.

Highlights