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Employee Benefit Plans Industry Developments - Audit Risk Alert

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The increasing complexity of employee benefit plan auditing and increased scrutiny by the DOL have resulted in significant pressure for CPAs and firms performing EBP audits.

To help CPAs meet the challenge of performing quality audits in this unique and complex area, the AICPA has developed this Alert to help you identify current sources of risk within the plan and its environment.

You’ll find targeted discussion of new developments, issues auditors may face in their current audits, and a look at what’s in the pipeline that may affect your engagements.

Key Benefits

  • Current developments on health care reform and its effect on employee benefit plans
  • Coverage of emerging practice issues, including disclosures about offsetting assets and liabilities, fair value measurement, and liquidation basis of accounting.
  • In-depth look at testing journal entries to address risk of management override of controls, as well as expense arrangements.
  • Analysis of high-risk areas specific to defined benefit pension plans, such as PBGC premiums, de-risking, and demographic and economic assumptions.
  • Up-to-date information on regulatory developments from both the DOL and IRS


  • FASB ASU No. 2014-06, Technical Corrections and Amendments—Master Glossary
  • FASB ASU No. 2013-09, Deferral of the Effective Date of Certain Disclosures for Nonpublic Employee Benefit Plans
  • FASB ASU No. 2013-07, Liquidation Basis of Accounting
  • FASB ASU No. 2012-04, Technical Corrections and Improvements
  • FASAB ASU No. 2011-11, Disclosures About Offsetting Assets and Liabilities
  • FASB ASU No. 2011-04, Achieving Common Fair Value Measurements and Disclosure Requirements

This alert also includes information on emerging issues such as:

  • Expense Arrangements—Defined Contribution Retirement Plans
  • Reliability of Electronic Audit Evidence
  • Testing Journal Entries to Address Risk of Management Override of Controls
  • PBGC Premiums for Defined Benefit Pension Plans
  • De-Risking of Defined Benefit Pension Plans
This product is also available in an online subscription format that includes the corresponding Employee Benefit Plans - Audit and Accounting Guide, content updates and unlimited online access for 1 year. Select the Online Subscription option at the bottom of the page and save!
eBook 2014
Product# ARAEBP14E
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