This checklist was designed to assist auditors and preparers in overcoming the complexities of financial statement preparation for defined contribution retirement plans.
It covers U.S. GAAP disclosure guidance, FinREC recommendations, and the reporting requirements that you need to know and apply to meet the applicable standards.
In addition, you'll find useful tools including illustrative financial statements and auditor's reports. You can document the applicability of each requirement and reference the working papers where the support to a disclosure can be found.
Purchasers of the online format can download the checklist content into Microsoft Word for added flexibility.
Ensure that all U.S. GAAP, as promulgated by FASB, disclosure requirements for employee benefit plans financial statements are met
Ensure that auditor's reports are in compliance with the new Clarified Auditing Standards.
In-depth look at the application of financial reporting standards using the illustrative employee benefit plans financial statements
Reduces the risk of noncompliance with ERISA
Analysis of the complexities of financial statement preparation for defined contribution retirement plans
FASB ASU No. 2013-07, Presentation of Financial Statements (Topic 205): Liquidation Basis of Accounting
FASB ASU No. 2014-06, Technical Corrections and Improvements Related to Glossary Terms
FASB ASU No. 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures
PCAOB Auditing Standard No. 17, Auditing Supplemental Information Accompanying Audited Financial Statements (AICPA, PCAOB Standards and Related Rules, Auditing Standards)
Q&A section 6931.18-.30, Liquidation Basis of Accounting
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