Auditing Financial Statements of ERISA Plans

Overview

You’ll gain an understanding of the statements, disclosures and considerations for plans that file Form 11-K, and learn ways to plan and conduct effective risk-based ERISA plan audits.

Delivery Method: Individual webcast
CPE Credit: Auditing, Accounting
Program Level: Basic

This course is being offered by a 3rd party vendor and will not be accessible on your My CPE page. Webinar access information will be emailed directly to you by AICPA.

Highlights

Auditing the statement of net assets available for benefits

Types and classification of common plan investments

Plan investment audit procedures based on type of audit and risk assessment

Auditing the statement of changes in net assets available for benefits

Audit procedures at the participant level required for investment gains (losses), contributions and benefit payments or withdrawals

Presentation and disclosure requirements in accordance with GAAP

Audit considerations related to related parties, parties in interest, prohibited transactions, a plan's tax status, and Form 5500 and Form 11-K filers

Prerequisites

None

Designed For

Auditors of employee benefit plans

Practitioners considering the addition of EBP audits as a service offering

Accountants in business and industry responsible for company benefits

Objectives

Identify auditing procedures for the statement of net assets available for benefits and the statement of changes in net assets available for benefits.
Recognize the types and classification of common plan investments.
Distinguish plan investment audit procedures based on type of audit and risk assessment.
Identify audit procedures at the participant level required for investment gains (losses), contributions, and benefit payments or withdrawals.
Recognize the presentation and disclosure requirements in accordance with GAAP.
Identify audit considerations for related parties, parties in interest, and prohibited transactions; a plan's tax status and Form 5500; and Form 11-K filers.

Level

Code

Vendor

Fields of Study

Leader(s):

Randy Dummer, Partner, AICPA

Leader Bios

Randy Dummer, Partner, AICPA

Randy Dummer, CPA, is a partner with Henderson, Hutcherson & McCullough (HHM) in the accounting and audit area, joining the firm in 2011. He is the engagement partner on several employee benefit plan audits at HHM, as well as for automobile dealerships, manufacturers, nonprofit organizations and other commercial businesses. He was previously the firm-wide leader for the employee benefit plan audit practice at Baker Tilly Virchow Krause, LLP in Appleton, Wis. The practice consisted of approximately 700 engagements performed by personnel in eight different offices. In this role, Randy developed and taught the firm’s internal training annually for their benefit plan audit staff, updated tools and templates and served as the primary technical resource for employee benefit plan audit issues. He has extensive experience with audits of employee benefit plans as well as nonprofit organizations and commercial businesses. He has been teaching seminars for the American Institute of CPAs (AICPA) since 2003.

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