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AICPA Accounting Standards Board Will Issue New Reporting Requirements for EBP Audits

December 3, 2018

Reporting and performance requirements for practitioners auditing employee benefit plans subject to the Employee Retirement Income Security Act of 1974 (ERISA) will change under a new standard that the American Institute of CPAs (AICPA) Auditing Standards Board (ASB) voted to issue. Statement on Auditing Standards, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA, will include a new report format for ERISA Section 103(a)(3)(C) audits, which formerly were known as limited-scope audits. The new standard will require new procedures for an ERISA Section 103(a)(C)(3) audit and will contain new considerations relating to Form 5500. Click here for more information.