[WEB] Employee Benefit Plans - Auditing Significant Areas

Description

The Department of Labor (DOL) oversight and monitoring of audit quality have intensified and will continue for employee benefit plan (EBP) audits for the foreseeable future. The AICPA initiative on Audit Quality has also addressed the issue through the peer review process. This course discusses the deficiencies noted in peer reviews in significant audit areas. Skills and knowledge will be covered in the following areas:

• Stay current on regulatory initiatives, findings, and actions
• Identify and address recurring difficult and complex accounting, auditing, and financial reporting issues in EBP engagements
• Effectively perform required auditing procedures
• Document evidence obtained to support the opinion
• Identify deficiencies and focus on best practices

Objectives

Participants will be able to:

• Understand the required audit procedures for selected accounts
• Identify current auditing issues with common-sense solutions
• Prepare adequate and sufficient audit documentation that will satisfy the professional standards for documentation and the DOL
• Avoid mistakes and deficiencies in financial reporting and disclosures noted by DOL Audit Quality Study and Peer Reviews