Due to the recently issued standards, auditors need to properly understand the changes that will need to be implemented in order to be in compliance with the standards. This course will provide auditors with updates on the current standards and what to expect in the near future associated with employee benefit plans. The most common compliance issues identified in 401(k) audits will be explored along with recommended corrections. Auditors will identify best practices for handling specific issues that arise during the course of the engagement related to payroll and compensation, participant loans, hardship distributions, investments, plan mergers/acquisitions, etc. This is the course to take to help you ensure that your firm and EBP audit engagements are in compliance with the rules and regulations.
Learning Objectives
- Identify current updates for EBP’s.
- Analyze hot topics in regard to audit planning, risk assessment, testing and financial statement disclosures.
- Recognize key areas of concern for peer reviewers and the DOL.
Major Topics
- Annual update of the changes that effect employee benefit plans and items on the horizon;
- Overview of best practices related to planning, risk assessment, internal controls and other EBP audit areas.
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