Application of the independence rules to affiliates of employee benefit plans - Frequently asked questions (FAQs)
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Application of the independence rules to affiliates of employee benefit plans - Frequently asked questions (FAQs)

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These frequently asked questions were developed to assist practitioners in understanding how the definitions and guidance provided in the AICPA’s independence rules related to affiliates of attest clients apply to employee benefit plans subject to the Employee Retirement Income Security Act (ERISA). They provide guidance on which entities should be considered an affiliate of an employee benefit plan subject to ERISA and, therefore, subject to the same independence provisions of the AICPA Code of Professional Conduct applicable to the plan client.

The answers to these questions are based on guidance the AICPA Professional Ethics Division staff provided in response to members’ inquiries; they are not rules, regulations, or statements of the Professional Ethics Executive Committee and, therefore, are not authoritative guidance. Further, the answers do not address the requirements of other regulatory bodies, such as the state boards of accountancy, the U.S. Department of Labor (DOL), the SEC, and the U.S. Government Accountability Office whose positions may differ from and may be more restrictive than those of the AICPA.

Download the Download the FAQs on application of the independence rules to affiliates of Employee Benefit Plans

File name: faqs-on-application-of-the-independence-rules-to-affiliates-of-employee-benefit-plans.pdf

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