Practice Tools and Aids

    Practice Management Tools and Aids 

    The Center has developed valuable tools to help members perform quality employee benefit plan audits.

    Internal Control Communication Examples
    The Center has developed this non-authoritative document to assist Center members in preparing internal control communications to their employee benefit plan clients. It contains example comments that may be useful in preparing required communications of internal control related matters identified in EBP audits, management letters, and other internal control communications.

    FASB Accounting Standards Codification(FASB ASC)
    The EBPAQC has prepared this tool to assist members and plan sponsors and administrators in gaining a general understanding of the FASB Accounting Standards Codification™ (FASB ASC).  The document explains how the FASB ASC is organized, how to reference and use the FASB ASC for employee benefit plan accounting and reporting, how the FASB ASC relates to previously issued standards, and how new authoritative accounting and reporting standards will be issued under the FASB ASC.

    ERISA Audit Inventory and Staffing Schedule
    Use this tool to help inventory your ERISA clients and schedule & staff your ERISA audit Engagements.

    Documentation of Use of a Type 2 Service Auditor’s Report in an Audit of an Employee Benefit Plan’s Financial Statements
    The tool is intended to assist members in documenting procedures and findings related to controls at a service organization that are likely to be relevant to the employee benefit plan’s internal control over financial reporting. It focuses on the user auditor’s use of a type 2 report.

    Firm Preparedness Checklist for Employee Benefit Plan Audits
    This checklist was developed by the AICPA as a non-authoritative practice aid to assist member firm designated ERISA audit partners in assessing their firm's preparedness for the ERISA audit season and to enhance the quality of their firm's ERISA audit practice.

    Internal Inspection Tool
    The AICPA Employee Benefit Plan Audit Quality Center has prepared this document to assist you in planning and performing the required annual internal inspection of your firm's ERISA employee benefit plan audit practice.

    Common EBP Audit Deficiencies
    This document is intended to help EBP audit practitioners be alert to these areas and be aware of the related key audit issues.

    RFP and Auditor Evaluation Process Checklist for Plan Sponsors
    This tool can assist plan sponsors and other stakeholders in the request for proposal (RFP) and evaluation process to obtain quality financial statement audit services. It also discusses the RFP evaluation and auditor selection process and how to find an auditor.

    Responding to Requests for Proposals
    The following non-authoritative practice tools were prepared by the AICPA EBPAQC for use by its member firms. The sample documents may be modified and used during a firm's employee benefit plan request for proposal (RFP) process.

    EBPAQC Resources and Tools
    Use this guide as a useful tool for the upcoming audit season.
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