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Auditing Financial Statements of ERISA Plans
Audit & Assurance
Webcast

Auditing Financial Statements of ERISA Plans

SAS No. 136 will affect your 401(k) audits — be prepared. Become comfortable around the new standard to continue performing ERISA-compliant audits.

$197 - $241
Do you have an AICPA membership? Log in to apply your member discount.

Format

Webcast

Date

Nov 04, 2022

NASBA Field of Study

Accounting

Level

Basic

CPE Credits

4

Author(s)

Randy M. Dummer

Availability

Product Number

VCL4NAAB22110

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 Business & partner 
Product Details

Lay the groundwork for effective ERISA audits

The goal of Statement on Auditing Standards (SAS) No. 136 is to enhance audits performed under the Employee Retirement Income Security Act (ERISA). It will be important for you to understand the clarified responsibilities of auditors and clients, and ensure that you're familiar with best practices of a 401(k) audit and reporting.

In the webcast, we'll discuss how to:

  • Identify audit procedures required for investment activity, contributions, benefit payments, or withdrawals at the participant level
  • Alter your procedures depending on the type of audit and risk assessment
  • Determine the classification of common plan investments
  • Use GAAP presentation and disclosure requirements for EBP financial statements

Topics also covered in this webcast include:

  • Procedures needed to determine the plan’s tax status
  • Testing line items of statement of net assets available for benefits and the statement of changes in net assets available for benefits
  • Related parties, parties in interest, and prohibited transactions
  • Nuance in Form 11-K filers

Key Topics

  • Auditing the statement of net assets available for benefits
  • Types and classification of common plan investments
  • Plan investment audit procedures based upon type of audit and risk assessment
  • Auditing the statement of changes in net assets available for benefits
  • Audit procedures at the participant level required for investment gains (or losses), contributions, and benefit payments or withdrawals
  • Presentation and disclosure requirements in accordance with GAAP
  • Audit considerations related to related parties, parties in interest and prohibited transactions, a plan’s tax status and Form 5500, and Form 11-K filers, and related changes introduced by SAS No.136

Learning Outcomes

  • Identify auditing procedures for the statement of net assets available for benefits and the statement of changes in net assets available for benefits.
  • Recognize the types and classification of common plan investments.
  • Distinguish plan investment audit procedures based upon type of audit and risk assessment.
  • Identify audit procedures at the participant level required for investment gains (or losses), contributions, and benefit payments or withdrawals.
  • Recognize the presentation and disclosure requirements in accordance with GAAP.
  • Identify audit considerations for related parties, parties in interest, and prohibited transactions; a plan’s tax status and Form 5500; Form 11-K filers; and related changes introduced by SAS No. 136

Who Will Benefit

  • Auditors of employee benefit plans
  • Practitioners considering the addition of EBP audits as a service offering
  • Accountants in business and industry responsible for company benefits
Credit Info
CPE Credits
4
NASBA Field of Study
Accounting, Auditing
Level
Basic
Prerequisites
None
Access
This is a digital product. With full paid access the content will be available to you for 3 months after purchase date.
Duration
4 hrs
For more information, please refer to CPE requirements and NASBA sponsorship information
Pricing
Do you have an AICPA membership? Log in to apply your member discount.
Nonmembers
$241.00
AICPA Members
$197.00

Group ordering for your team

2 to 5 registrants

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6+ registrants

We can help with group discounts. Call us at 1-800-634-6780 (option 1) or email us at salessupport@aicpa.org

Contact us
Speakers
Randy M. Dummer
Randy Dummer is a Partner with HHM in the accounting and audit area, joining the firm in 2011. He is the engagement partner on several employee benefit plan audits at HHM, as well as for automobile dealerships, manufacturers, not-for-profit organizations and other commercial businesses. He was previously the firm wide leader for the employee benefit plan audit practice at Baker Tilly Virchow Krause, LLP in Appleton, Wisconsin. The practice consisted of approximately 700 engagements performed by personnel in eight different offices. In this role, Randy developed and taught the firms internal training annually for their benefit plan audit staff, updated tools and templates, and served as the primary technical resource for employee benefit plan audit issues. He has extensive experience with audits of employee benefit plans, as well as not-for-profit organizations, and commercial businesses. He has been teaching seminars for the AICPA since 2003.
Accessibility

The Association is dedicated to removing barriers to the accountancy profession and ensuring that all accountancy professionals and other members of the public with an interest in the profession or joining the profession, including those with disabilities, have access to the profession and the Association's website, educational materials, products, and services.The Association is committed to making professional learning accessible to all product users. This commitment is maintained in accordance with applicable law. For additional information, please refer to the Association's Website Accessibility Policy. As part of this commitment, this product is closed-captioned. For additional accommodation requests please contact adaaccessibility@aicpa-cima.com and indicate the product that you are interested in (title, etc.) and the requested accommodation(s): Audio/Visual/Other. A member of our team will be in contact with you promptly to make sure we meet your needs appropriately.

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Auditing Financial Statements of ERISA Plans
Nov 04, 2022
Select from the following options:
Nov 04, 2022
2pm6pm GMT
May 10, 2023
1pm5pm GMT
Nonmember Price
$241.00
Price excluding sales tax
$241.00
Do you have an AICPA membership? 
Log in to apply your member discount.
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