Auditing Financial Statements of ERISA Plans

Course Details

Date

Friday, May 16, 2025

7:00am – 11:00am (Registration: 2:02am)

Location

Online

Field of Study

Accounting & Audit

CPE Credit

4 hours CPE credit

Level of Knowledge

Beginning

Vendor

AICPA

Prerequisites

None

Description

Conduct a compliant audit

  • Identify proper audit procedures to test the line items of the statement of net assets available for benefits, including investments.
  • Identify proper audit procedures to test the activity in the statement of changes in net assets available for benefits, including participant testing.

    Plan investments
  • Differentiate plan investment procedures based upon the type of audit and risk assessment.
  • Identify types and classifications of common plan investments.
  • Identify audit procedures required for investment activity, contributions and benefit payment or withdrawals at the participant level.

    GAAP presentation and disclosure
  • Understand GAAP requirements for presentation and disclosure for employee benefit plan financial statements.

    Other audit considerations
  • Recognize procedures needed to determine the plan's tax status
  • Learn how to identify related parties, parties in interest, and prohibited transactions.
  • Recognize additional audit procedures needed for Form 11-K filers.

    Highlights

  • Auditing the statement of net assets available for benefits
  • Types and classification of common plan investments
  • Plan investment audit procedures based upon type of audit and risk assessment
  • Auditing the statement of changes in net assets available for benefits
  • Audit procedures at the participant level required for investment gains (losses), contributions, and benefit payments or withdrawals
  • Presentation and disclosure requirements in accordance with GAAP
  • Audit considerations related to related parties, parties in interest and prohibited transactions, a plan's tax status and Form 5500, and Form 11-K filers, and related changes introduced by SAS No.136

    Objectives

    • Identify auditing procedures for the statement of net assets available for benefits and the statement of changes in net assets available for benefits.
    • Recognize the types and classification of common plan investments.
    • Distinguish plan investment audit procedures based upon type of audit and risk assessment.
    • Identify audit procedures at the participant level required for investment gains (losses), contributions, and benefit payments or withdrawals.
    • Recognize the presentation and disclosure requirements in accordance with GAAP.
    • Identify audit considerations for related parties, parties in interest, and prohibited transactions; a plan's tax status and Form 5500; Form 11-K filers; and related changes introduced by SAS No.136.

    Designed For

  • Auditors of employee benefit plans, practitioners considering the addition of EBP audits as a service offering, and accountants in business and industry responsible for company benefits.

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    Course Pricing

    WYOCPA Member Fee
    $213.00

    Non-Member Fee
    $261.00

    Your Price
    $261.00

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