Whether you are a financial statement preparer or auditor it is critical to understand the complexities of the employee benefit plan industry including the Employee Retirement Income Security Act (ERISA) and related regulation requirements, fair value measurements and disclosures, and communication of internal control matters. AICPA publications provide information on recent developments, guidance, practice aids, and illustrative examples for the common accounting and audit practices in the employee benefit plan industry, including
- an overview of statutory rules and regulations and the financial reporting requirements of ERISA.
- fair value disclosure requirements.
- a detailed listing of other required financial statement disclosures.
- updates to disclosure requirements related to assets and liabilities measured at fair value.
- updates to service auditor’s reports (Service Organization Control [SOC] 1 reports) used in audit engagements.
Find comprehensive examples of financial statements and disclosures specific to defined contribution pension plans, defined benefit pension plans, and health and welfare benefit plans, auditor reports, including reports for limited scope audits and 403(b) plan, Form 5500 required supplemental schedules, including the schedule of delinquent participant contributions, and sample management letters and illustrative management letter comments.
For more information on the industry and the AICPA's commitment to provide updates and guidance, visit the Employee Benefit Plans Expert Panel webpage or the Employee Benefit Plan Audit Quality Center.
The following products are available from the AICPA to help provide guidance and resources for employee benefit plans.
- Employee Benefit Plans - Best Practices in Presentation and Disclosure
- Checklists and Illustrative Financial Statements Defined Contribution Retirement Plans
- Practice Aid Using a SOC 1(SM) Report in Audits of Employee Benefit Plans
AICPA Online Professional Library
When you subscribe to any one of the many subscription options on AICPA Online Professional Library, you're not only getting access to the most up-to-date guidance and tools, you are also linked to all of the relevant and related literature, including the FASB and GASB libraries.
Many publications and libraries may be of value to those interested in guidance related to employee benefit plans:
- AICPA Audit and Accounting Manual
- AICPA Audit Risk Assessment Tool and Guide
- AICPA Practice Tool The Auditor's Report: Comprehensive Guidance and Examples
- AICPA Professional Standards
- AICPA Technical Questions and Answers
- U.S. GAAP Financial Statements—Best Practices in Presentation and Disclosure
- Audit and Accounting Guide Set with FASB Accounting Standards Codification
- Essential A&A Research Collection
- Premium A&A Research Collection