Auditing 401(k) Plans focuses on "limited-scope" audits that comprise over 80% of the audits filed with the Department of Labor. Take a hands-on approach to performing these engagements in a manner that complies with all professional requirements.
- Identify the requirements CPAs should follow when performing an audit of a 401(k) plan.
- Recognize the authoritative literature applicable to performing an audit of a 401(k) plan.
- Become familiar with the contents of the authoritative literature.
- Identify the trends in the profession and recognize the imminent changes to the professional landscape of performing audits of 401(k) plans.
Level of Difficulty:
- Requirements to meet when the client selects the 'limited-scope' audit option
- Testing participant data
- AICPA Audit and Accounting Guide 'Employee Benefit Plans'
- AICPA SAS 136 Forming An Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA
CPAs that perform limited-scope audits of 401(k) plans.
None required but reviewing the EBP AA Guide in advance would be helpful.
This course will adjourn at 4 p.m.