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Plan Advisories

Plan Advisories 

The AICPA Employee Benefit Plan Audit Quality Center prepares Plan Advisories for plan sponsors, administrators, and trustees. These comprehensive documents contain information to assist them in understanding their fiduciary and other responsibilities with respect to various aspects of their plans .

Understanding Auditor Communications
Plan Sponsors and others receive various communications from their plan auditors throughout the year. 

Effective Monitoring of Outsourced Plan Recordkeeping and Reporting Functions

Hiring a third party provider to perform plan administration services is a fiduciary function and, as such, plan administrators are required to periodically monitor their service providers to ensure they are performing the agreed-upon services.

The Importance of Internal Controls in Financial Reporting and Safeguarding Plan Assets
Effective controls reduce the risk of asset loss and help ensure that plan information is complete and accurate, financial statements are reliable, and laws and regulations are complied with.

Valuing and Reporting Plan Investments
Investments are the most significant asset in a benefit plan, and plan management is responsible for ensuring proper valuation and reporting of those assets. Each different investment has unique valuation and disclosure considerations.

 

 

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Valuing & Reporting Plan Investments

Brochure :  This advisory provides information to assist plan sponsors in understanding their responsibilities for valuing and reporting plan investments. Discusses responsibilities, special considerations, obtaining information, examples of suggested controls to consider, and more. Low resolution version for desktop printing.
Published on July 12, 2011

Offset Printing Instructions for Plan Advisory on Effective Monitoring of Outsourced Plan Recordkeeping and Reporting Fu...

Toolkit :  A high resolution version in booklet format of the Plan Advisory is available on the Center website which can be used for offset printing.
Published on February 21, 2011

Plan Advisories

Overview :  The AICPA Employee Benefit Plan Audit Quality Center prepares Plan Advisories for plan sponsors, administrators, and trustees. These comprehensive documents contain information to assist them in understanding their fiduciary and other responsibilities with respect to various aspects of their plans.
Published on February 21, 2011

Valuing and Reporting Plan Investments

Overview :  Investments are the most significant asset in a benefit plan, and plan management is responsible for ensuring proper valuation and reporting of those assets. Each different investment has unique valuation and disclosure considerations.
Published on February 21, 2011

Offset Printing Instructions for Plan Advisory on Valuing and Reporting Plan Investments

Article :  A high resolution version in booklet format of the Plan Advisory is available on the Center website which can be used for offset printing. Center members may reprint and reuse all or portions of the Plan Advisory for intra-firm or client use or otherwise i
Published on February 21, 2011

Understanding Auditor Communications

Overview :  This plan advisory provides information to plan sponsors and others to assist them in better understanding the communications they may receive from their plan auditors.
Published on February 21, 2011

Offset Printing Instructions for Auditor Communications Plan Advisory

Sample Letter :  Offset printing instructions for high resolution version of the auditor communications plan advisory
Published on February 21, 2011

Plan Advisory - Understanding Auditor Communications - Low Res

Brochure :  This advisory provides information to assist plan sponsors and others in understanding auditor communications they may receive from their plan auditors. Low resolution version for desktop printing.
Published on December 23, 2010

Plan Advisory - Understanding Auditor Communications - High Res

Brochure :  Provides an overview of auditor communications and discusses in detail auditor’s communication with those charged with governance, engagement letters, management representation letters, communications about internal control matters identified in an audit, management letters and verbal communications, how auditor communications can help, and where to obtain additional information about auditor communications.
Published on December 23, 2010

The Importance of Internal Controls in Financial Reporting and Safeguarding Plan Assets

Brochure :  The AICPA Employee Benefit Plan Audit Quality Center has prepared the Plan Advisory, The Importance of Internal Controls in Financial Reporting and Safeguarding Plan Assets, to assist plan administrators in understanding their responsibilities for establishing, maintaining, and monitoring internal controls at their plans.
Published on June 02, 2010

Effective Monitoring of Third Party Service Providers to EBP audit clients

Sample Letter :  An illustrative client transmittal letter for sending the plan advisory.
Published on May 28, 2010

Effective Monitoring of Outsourced Plan Recordkeeping and Reporting Functions

Brochure :  Hiring a third party provider to perform plan administration services is a fiduciary function and, as such, plan administrators are required to periodically monitor their service providers to ensure they are performing the agreed-upon services.
Published on May 09, 2010

Effective Monitoring of Third Party Service Providers to EBP audit clients

Sample Letter :  An illustrative client transmittal letter for sending the plan advisory.
Published on April 23, 2010

Sample Client Transmittal Letter for Plan Advisory

Sample Letter :  An illustrative client transmittal letter for sending the plan advisory, The Importance of Internal Controls in Financial Reporting and Safeguarding Plan Assets to EBP audit clients.
Published on April 18, 2010

Sample Client Transmittal Letter for Plan Advisory

Sample Letter :  An illustrative client transmittal letter for sending the plan advisory, Valuing and Reporting Plan Investments, to EBP audit clients.
Published on April 18, 2010

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