Surgent's Audits of 401(k) Plans: New Developments and Critical Issues
Overview
One of the most favored employee benefit plans, the 401(k) plan, provides unique challenges for auditors. Also, as many 401(k) plan administrators opt for ERISA Section 103(a)(3)(C) audits, audits of 401(k) plans will be significantly impacted by the now-effective SAS 136, the AICPA’s new employee benefit plan auditing standard.
Through this course, auditors will obtain an understanding of the rules and regulations unique to employee benefit plans and obtain practical guidance on applying them. Auditors will enhance their knowledge of the performance and reporting requirements of SAS 136 through real-world examples, best practices, and efficient audit techniques that can be utilized in various audit engagements. Make sure your audits don’t trigger a DOL inspection by conforming to all applicable rules and regulations.
Highlights
- Proper planning of benefit plan audit engagements and developing audit strategy while improving overall efficiency
- Common pitfalls in planning and detailed audit procedures
- Changes affecting 401(k) plans, including SAS 136 implementation
- Common mistakes as noted in peer reviews and DOL inspections
Prerequisites
Basic understanding of auditing defined contribution plans
Designed For
Practitioners responsible for planning and performing employee benefit plan audit engagements
Objectives
- Identify the key provisions of SAS 136
- Properly document understanding of the plan, the environment, and internal controls for an employee benefit plan
- Understand the importance of reading, reviewing, and documenting the controls in a service organization control report
- Identify potential audit triggers that may result in Department of Labor inspections
- Understand the risks associated with a benefit plan audit engagement
- Avoid common mistakes noted during peer reviews
Preparation
None
Notice
This course is offered by a 3rd party vendor and will not be accessible in the My CPE Tracker section of the ISCPA website. Course access information will be emailed directly to you by Surgent Professional Education.
Leader(s):
Leader Bios
Melissa Critcher, Melissa G Critcher CPA PC
Since 2010, Melissa has owned and operated a niche firm located in Charlotte, North Carolina that concentrates on auditing employee benefit plans, consulting with CPA firms and plan sponsors, and providing continuing professional education and training. She has more than 25 years of experience working with employee benefit plans. Melissa provides continuing education, training and consulting services for many organizations including the AICPA, NC Association of CPA’s and other state societies, Surgent McCoy, and CPA firms, as well as, public and privately held entities. She has been repeatedly recognized as an outstanding discussion leader by the AICPA and NCACPA. Melissa has also authored courses on topics ranging from employee benefit plans, internal controls, and SSARS engagements.
Non-Member Price $349.00
Member Price $299.00