Employee Plan Audits Among Focus Areas Of AICPA Quality Enhancement Initiative 

Published August 13, 2014

Employee benefit plan audits are one of the focus areas of a push by the American Institute of CPAs to find ways to improve private entity audit quality, BNA’s Pension & Benefits Daily reported. The publication’s Phil Kushin reported that a discussion paper on the Enhancing Audit Quality initiative identifies employee benefit plan audits, including those of employee stock ownership plans and government pensions, as a “high-risk” audit area that will be an initial area of focus in the practice monitoring part of the AICPA's initiative. “Millions of Americans have money in some employee benefit plan—whether it's a 401(k) or whether it's some other defined contribution or defined benefit plan—it's an area that we as a profession need to make sure we get right,” Susan S. Coffey, AICPA senior vice president for public practice and global alliances, told BNA in an interview.


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