Audits of Employee Benefit Plans Subject to ERISA - Society of Louisiana Certified Public Accountants

Overview

Employee benefit plan audits are examined to help you understand the intricacies of EBP planning, reporting, and compliance with applicable auditing standards.

Highlights

Audit planning and pre-engagement activities

Risk assessment, including consideration of controls

Auditing the statement of net assets available for benefits

Auditing the statement of changes in net assets available for benefits

Other auditing considerations, including prohibited transactions and tax compliance

The auditor's report

Financial statement disclosures

Supplemental schedules

Prerequisites

None

Designed For

Auditors of employee benefit plans

Practitioners considering adding EBP audits as a service offering

Accountants in business and industry responsible for company benefits

Objectives

Recognize fundamentals of employee benefit plans subject to ERISA.
Identify plan financial statements prepared in accordance with GAAP.
Identify ways to properly plan an audit of ERISA plan financial statements in accordance with applicable professional standards.
Indicate how to audit the statements of net assets available for benefits.
Recognize considerations related to plan investments and management and auditor responsibilities.
Indicate how to audit the statement of changes in net assets available for benefits.
Identify ways to properly report on an audit of ERISA plan financial statements in accordance with applicable professional standards.