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ERISA Section 103(a)(3)(C) Audits: Part 1
Employee Benefit Plans

ERISA Section 103(a)(3)(C) Audits: Part 1

Gain a comprehensive overview of ERISA Section 103(a)(3)(C) audits and walk through the audit requirements in AU-C section 703.

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NASBA Field of Study




CPE Credits



Josie Hammond, Michelle H. Buckley, Judy Goldberg, Sandi Carrier, Debbie Smith


3 months

Product Number


 Business & partner 
Product Details

Part 1 of a two-part webcast series

Join us for this introductory webcast where you will:

  • Get the basics of an ERISA Section 103(a)(3)(C) audit with a heavy focus on the changes that came about with SAS No. 136
  • Learn areas you'll need to focus on as you prepare to implement SAS No. 136
  • Participate in discussions about the significant changes in ERISA Section 103(a)(3)(C) audits resulting from the issuance of AU-C 703

Key Topics

ERISA Section 103(a)(3)(C) audit requirements including:

  • Engagement acceptance procedures
  • Engagement letters
  • Consideration of relevant plan provisions in risk assessment
  • Changes to the management representation letter
  • Auditor's report changes
  • Managing client expectations throughout the engagement

Learning Outcomes

  • Recall new requirements in AU-C 703 that affect their Section 103(a)(3)(C) audits
  • Recognize the linkage of relevant plan provisions to risk assessment
  • Select appropriate engagement acceptance procedures

Who Will Benefit

Employee benefit plan (EBP) auditors who perform ERISA Section 103(a)(3)(C) engagements.

More Details
NASBA Field of Study
This is a digital product. With full paid access the content will be available to you for 3 months after purchase date.
2 hrs
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Contact us
Josie Hammond
Josephine (Josie) Hammond is the National Director of Employee Benefit Plan Services for McGladrey LLP. She is responsible for tracking audit and accounting issues that impact the firm’s employee benefit plan audit practice, and she participates in the development of the firm’s positions on such proposed audit and accounting pronouncements. Josie develops and presents professional education material, practice aids and tools to support the firm’s employee benefit plan practice. She consults on the application of professional standards and related firm policies in this area, providing high-level, cutting-edge guidance on all aspects of ERISA issues. Josie also monitors the firm’s compliance with the American Institute of Certified Public Accountants Employee Benefit Plan Audit Quality Center membership requirements. Prior to joining the National Professional Standards Group, Josie was responsible for the oversight and management of the employee benefit practice of three offices in the firm’s Great Lakes Regional Professional Practice, serving over 150 clients. She is experienced in single-employer and multi-employer plans as well as plans with a variety of funding arrangements, including defined benefit and defined contribution pension plans, 401(k) plans, health and welfare plans, master trusts, and 103-12 investment entities. Josie’s practice has been concentrated in the employee benefit plan arena for over 20 years.
Michelle H. Buckley
Michelle is a Vice President in Meaden & Moore’s Assurance Services Group with 23 years of public accounting experience serving publicly held and private companies. As a practice leader of the firm’s employee benefits and consulting practice, Michelle has had extensive experience with qualified benefit plan audits, operational reviews, tax issues and the unique complexities of these engagements. She understands the risks to plan sponsors and continuously offers suggestions for improvement to minimize any potential fiduciary liability. Michelle’s primary responsibility is to ensure that each of her clients receive high-quality, timely service. She continually looks for ways to reduce the costs of the engagement while finding ways to add value to the relationship. Michelle maintains close contact with clients to develop long-term relationships and earn their confidence. Through sound business judgment and prior experience, she makes effective suggestions and recommendations to maximize efficiencies and to help a company meet its long-term goals. As an Accredited Investment Fiduciary Analyst TM (AIFA®), Michelle also assists in consulting retirement plan sponsors and investment advisors in fiduciary best practices and prudent investment process. Areas of Specialization • Defined Contribution and 403(b) Plan Audits • Defined Benefit Plan Audits • Health and Welfare Audits • SEC Benefit Plan • ESOP
Judy Goldberg
Judy is an Executive Director in EY’s Assurance Professional Practice and has been the National Director of the EBP practice since 2007. She has worked at EY over 28 years. She resides in Houston, Texas and has specialized in employee benefit plan audits since 1993. She is the current Chair of the AICPA’s Employee Benefit Plans Expert Panel and serves on various AICPA EBP task forces, including the AICPA Audit Guide Revisions Task Force and the Audit Risk Alert Task Force. Judy received her BBA from the University of Texas at Austin. She is a Certified Public Accountant and a Certified Employee Benefit Specialist.
Sandi Carrier
Debbie Smith
Debbie is a partner in Grant Thornton LLP’s national professional standards group, specializing in employee benefit plan assurance. She has over 20 years of experience in auditing benefit plans and has practiced exclusively in this area for the past 13 years. Her knowledge base and years of experience allow her to effectively and efficiently oversee the execution of an audit while providing meaningful recommendations upon completion of the work. She is one of Grant Thornton LLP’s most knowledgeable specialists in employee benefit plans, and is actively involved with national office initiatives in the area of employee benefit plans, including development and teaching of in-house training programs. She serves as a technical resource for her firm on employee benefit plan auditing, accounting and reporting issues, and is the Firm’s designated audit partner who has firm-wide responsibility for the quality of the Firm’s employee benefit plan audit practice. Debbie recently became a member of the executive committee of the AICPA’s Employee Benefit Plan Audit Quality Center. Prior to that, she served three years on the AICPA’s Employee Benefit Plans Expert Panel. As part of her leadership in the employee benefit plan area, Debbie also represents Grant Thornton LLP through her active involvement in various AICPA committees and task forces, including the AICPA’s Audit Guide Revision Task Force, Audit Guide Overhaul Task Force (an extensive multi-year project to re-write the AICPA’s Employee Benefit Plans Audit and Accounting Guide), Audit Risk Alert Task Force and Technical Standards Subcommittee of the Professional Ethics Committee. She continues to be actively involved in numerous sub-committees of the Audit Quality Center and Expert Panel, including those responsible for addressing employee benefit plan issues related to Alternative Investments, SOP 94-4-1, FAS 157, Limited-Scope Audits, Non-Disclosure Agreements, and Insurance Contracts. Debbie is also a frequent speaker at industry conferences on employee benefit plans. She is a member of the steering committee for the December 2007 AICPA Employee Benefit Plans Accounting, Auditing and Regulatory Update Conference, and is the co-chairman of the AICPA’s National Conference on Employee Benefit Plans in May 2008. Debbie is a native of the western suburbs of Chicago. When not working, Debbie enjoys spending time with her husband and four young sons, and participating in the numerous activities her sons are involved in.

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