Audits of Employee Benefits Plans Conference
Live Virtual Conference
8.00 Credits
Member Price $399.00
Price will increase by $50 on 5/6
Non-Member Price $499.00
Price will increase by $50 on 5/6
Overview
Tackle employee benefit plans with confidence at the MNCPA Audits of Employee Benefit Plans Conference. Dive into case studies on audit pitfalls to avoid common mistakes and apply practical solutions. Gain a deeper understanding of ESOPs and how they differ from typical 401(k) audits. Learn about the various types of audits and identify the tripping points to navigate challenges effectively.
Highlights
See the agenda tab above for the full conference schedule.
Designed For
CPAS, auditors and other financial professionals who are responsible for auditing employee benefit plans
Notice
- This conference is co-sponsored and administered by the Minnesota Society of CPAs.
- Login information and eMaterials will be distributed to attendees via email 3-5 days prior to the conference and posted in the My Upcoming CPE section of the ISCPA website.
Monday, May 19
General Session
- Department of Labor Update
The Department of Labor has been invited to speak for the Audits of Employee Benefit Plans Conference as they have been for the past several years. Due to extenuating circumstances their participation this year is tentative. We may have a back-up presentation in lieu of the Department of Labor.
Speaker: TBD
This session is available to registrants only.
General Session
- Audit Pitfalls: Experiences From the Field
Audit challenges are inevitable — but learning from real-world cases can help auditors navigate them more effectively. Unpack key lessons from recent standard implementations and common employee benefit plan audit pitfalls. Through a case study approach, gain valuable insights into how to identify, respond to and mitigate these challenges while ensuring compliance with professional standards.
Speakers: Alicia Schmidt, Debbie Smith
This session is available to registrants only.
General Session
- Plan Documentation and Retention Policies
Proper documentation is the foundation of retirement plan administration and audits. Explore the types of plan documents auditors commonly encounter, the records plan sponsors should maintain and best practices for retention. Stay ahead of evolving regulations with an update on SECURE 2.0 and the DOL’s Voluntary Fiduciary Correction Program. Gain the knowledge needed to ensure compliance and improve audit efficiency.
Speaker: Debra Linder
This session is available to registrants only.
General Session
- Navigating SOC 1 Reports: A Guide for Employee Benefit Plan Audits
SOC 1 reports play a crucial role in employee benefit plan audits, but how should auditors use them effectively? This session provides a deep dive into SOC 1 reports, their key components, and how they differ from SOC 2 reports. Learn how to assess subservice organizations, identify critical service providers, and address exceptions and report qualifications. Elevate your audit approach with a stronger grasp of SOC 1 reports and their impact.
Speaker: Rachel Rafik
This session is available to registrants only.
General Session
- Unique Considerations for Auditing DB Plans and ESOPs
Defined benefit plans and employee stock ownership plans come with distinct audit challenges. Examine the complexities that set these audits apart from traditional 401(k) plan audits. Explore the heightened risks, the role of specialists and the specific reporting requirements unique to these plans. Gain a clearer understanding of best practices to navigate these high-risk audits with confidence.
Speaker: Marjorie Heap
This session is available to registrants only.
General Session
- Panel Discussion: Ask the Experts
Experts share their insights on the latest developments, common pitfalls and best practices in auditing employee benefit plans. Gain practical strategies for addressing regulatory updates, improving audit quality and mitigating risk. Whether you’re an experienced auditor or new to the field, gain valuable perspectives to help you stay ahead in an ever-changing landscape.
Speakers: Marjorie Heap, Rachel Rafik, Alicia Schmidt
This session is available to registrants only.
Leader(s):
Leader Bios
Alicia Schmidt
Alicia Schmidt, CPA is a principal in CliftonLarsonAllen’s national assurance technical group with over 20 years of public accounting experience. She leads quality control, monitoring activities, technical reviews and consultations for CLA’s employee benefit plan assurance practice. Alicia has extensive experience auditing single, multiple and multi-employer benefit plans and works closely with the DOL on routine inspections. She serves on the AICPA Employee Benefit Plan Expert Panel and contributes to key industry guidance updates.
Debbie Smith
Debbie Smith, CPA is a client-serving partner at Grant Thornton LLP and a member of the firm’s national professional standards group, specializing in employee benefit plan audits. With over 35 years of experience — 30 focused exclusively on EBP audits — she serves as a technical resource and quality leader for the firm’s EBP audit practice. Debbie is the current chairperson of the AICPA’s Employee Benefit Plan Audit Quality Center and has served on multiple industry committees, task forces and advisory panels, including the U.S. Department of Labor’s ERISA Advisory Council.
Debra Linder
Debra J. Linder, JD/MA, CPA, is the Chair of the Compensation Planning & Employee Benefits Group at Fredrikson & Byron, P.A. She advises public, private and tax-exempt employers on plan design, administration and compliance for retirement plans, health and welfare plans, ESOPs and executive compensation programs. Debra frequently speaks on employee benefits law and is admitted to the Minnesota, Iowa and North Dakota Bars. She earned her law degree with the highest distinction from the University of Iowa.
Marjorie Heap, Director
Marjorie H. Heap, CPA, a senior manager with Eide Bailly, LLP, has experience in all phases of employee benefit plan engagements including planning, execution and quality control. In addition, she has a wide variety of public accounting experience covering all levels of financial statement service across several industries, developing and teaching training programs, and involvement in various levels of firm quality control.
Rachel Rafik
Rachel Rafik is a Managing Director and Center for Excellence Leader for Employee Benefit Plan Audits at Grant Thornton, with over 18 years of experience in the EBP industry. She manages complex benefit plan audits nationwide, including defined contribution, defined benefit and ESOPs. Rachel leads Grant Thornton’s Employee Benefit Plan SOC 1 project and plays a key role in developing national training programs. She holds a Bachelor of Science in Accounting and a Bachelor of Business Administration in Finance from the University of Central Oklahoma.
Non-Member Price $499.00
Member Price $399.00