Employee Benefit Plans: Audit and Accounting Guide

This new comprehensive revision includes relevant guidance that has been issued up to January 1, 2013. Auditing content of the guide is fully conformed to changes resulting from the ASB Clarity Project.

This handy tool offers essential information and hands on advice on the many aspects of auditing and accounting for employee benefit plans; including planning, risk assessment, internal control, and plan tax status.

Packed with information on new requirements, including new audit report requirements due to the clarity standards, this Guide is the industry standard and an indispensable resource.

Enhancements have been made to improve user understanding and minimize diversity in practice. New and enhanced features include:

• Plan- specific chapters for defined contribution retirement plans (DC plans), defined benefit pension plans (DB plans) and health and welfare benefit plans (H&W plans) that include plan accounting and the related auditing guidance.
• Practice tips for limited scope audits, multiemployer plans, employee stock option plans and more.
• Authoritative auditing guidance includes sections for relevant assertions, examples of identified risks of what can go wrong at the relevant assertion level and example audit procedures to consider by plan type and account.
• Accounting content incorporates both U.S. GAAP and new accounting guidance for specialized employee benefit areas, including presentation of plan investments, plan mergers and spin-offs, various recommended disclosures, and more.
• Illustrative financial statements for a 401(k), an ESOP, a cash balance DB plan, and a health care benefit plan that include fair value disclosures and features such as master trust arrangements and 401(h) accounts.

Don’t be without the most trusted and up-to-date employee benefit plan audit and accounting information available.

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