This non-authoritative EBPAQC tool may be used by firms in planning and summarizing meetings with employee benefit plan audit clients. It is intended to be used as a data collection tool to assist in the planning process. It should be populated with prior year client information in advance of the client meeting and then updated and completed during or after the meeting, including:
Comments or observations from the prior year audits to discuss before discussing the current year
Significant changes to the plan and operations during the period
Changes in the plan sponsor organizations that affected the plan
Operational or other issues noted during the period
Communications from regulators
Expected changes to audit strategy
This tool is for planning purposes only and is not intended to be a permanent part of the firm’s audit documentation under AU-C section 230, Audit Documentation.