This EBPAQC tool is intended to be used by auditors to track requests for audit information for a defined contribution retirement plan audit from the plan sponsor, administrator, recordkeeper and others who may have plan information necessary to perform the audit. Firms may insert their name and logo and delete the tool instruction information in the shaded area (row 6) before sending along to clients.
The tool is conveniently prepopulated with the most common information requested in defined contribution retirement plan audits. However, it is not intended to be all-inclusive for all audit situations and the auditor may need to request other information that is not listed in this tool. The tool can and should be customized to the specific plan audit client by adding, deleting or editing the rows of audit information.
This tool includes features to help firms easily track their requests. When a “Target date” is entered, the “Days to complete” column automatically populates, and as information is received simply enter “complete” in the “Days to complete” column and the row will appear shaded in gray.
The information request tracker includes information related to:
Plan documents and other agreements
Correspondence and committee meetings
Plan governance/related parties/parties in interest
Financial and compliance reporting
Financial reporting disclosure items
Type 2 SOC 1 reports
Contribution and participant eligibility information
Administrative expense items
Participant loan information
Detail investment schedules
Other items to complete
Plan merger or spin-offs
Change in custodian/trustee/recordkeeper
Additional ESOP requests
Additional 403(b) requests
Also included are helpful tips for using the tool.