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This Checklist is designed to assist auditors and preparers with overcoming the complexities of financial statement preparation, and with identifying the applicable reporting requirements you need to know and apply.
This essential practice aid saves you research hours and reduces the risk of noncompliance.
Whether you are preparing financial statements or auditing those financial statements, you'll find the most comprehensive U.S. GAAP disclosure guidance available, along with helpful illustrative financial statements and Auditor's Reports, allowing you to document the applicability of each requirement and reference the working papers where the support to a disclosure can be found.
This practice aid will help you:
- Ensure that all U.S. GAAP, as promulgated by FASB, disclosure requirements for employee benefit plans financial statement are met.
- Ensure that Auditor's Reports are in compliance with the new Clarified Auditing Standards.
- Understand the application of financial reporting standards using the illustrative employee benefit plans financial statements.
- Reduce the risk of noncompliance with ERISA.
- Master the complexities of financial statement preparation for defined contribution retirement plans.
The checklist has been updated to reflect changes from the ASB Clarity Project and includes applicable FinREC recommendations throughout.
In addition, it includes authoritative pronouncements and interpretations issued as of March 31, 2013, including: FASB ASU No. 2011-04, Fair Value measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs and FASB ASU No. 2012-04, Technical Corrections and Improvements.
Purchasers of the online format can download the checklist content into Microsoft Word for added flexibility.