2018 (AICPA) 1st Edition
by AICPA (Author)
Developed by a task force consisting of current and former employee
benefit plan expert panel members, this alert offers a range of topics
such as master trust reporting, cybersecurity, new proposed auditor's
reports, electronic information, limited-scope certification, and new
auditing standards such as PCAOB AS 3101.
The increasing complexity of employee benefit plan auditing and increased focus by the DOL have resulted in significant pressure for CPAs and firms performing EBP audits. To help accountants meet the challenge of performing quality audits in this unique and complex area, the AICPA has developed this alert to assist them in identifying current sources of risk within EBP audit engagements. Accountants will find a targeted discussion on new developments, issues auditors may face in their current audits, as well as a look at what's in the pipeline that may affect your engagements.
Key benefits of this work include:
- Coverage
of emerging practice issues, including direct versus indirect
investment in fully benefit-responsive investment contracts, readily
determinable fair value, disclosures for investments in certain entities
that calculate NAV per share (or its equivalent), plan expenses, and
repurchase agreements
- An in-depth look at master trust reporting, electronic information and the new PCAOB auditing standard AS 3101
- Analysis
of high risk areas specific to defined benefit pension plans, such as
pension benefit guaranty corporation premiums and reporting, demographic
and economic assumptions, and pension risk management
- Current developments on health and welfare plans, including health care reform and its effect on employee benefit plans
- Up-to-date information on regulatory development from both the DOL and IRS
