Product Image

Audits of 403(b) Plans

Author/Moderator: Melissa Critcher, CPA
Publisher: AICPA
Availability: Varies by Format (See Below)
See Below To Add To Cart
View Online Catalog
Print This Page


Available Formats:  Text | On-Demand | See All

On-Demand Format – Coming Soon!

Are you familiar with the special characteristics of a 403(b) plan? In this course you will build on what you already know about auditing benefit plans and learn the similarities and differences between auditing a 403(b) plan and the more familiar 401(k) plan. Gain a background on the tax rules applicable to a 403(b) plan and develop a better understanding of how the audit procedures must be modified from those of more traditional plans. Focus on the open issues created by the first-time audit of a benefit plan that may have been in existence for nearly 50 years and whose investments may have been managed more like individual retirement accounts than qualified plan trust accounts.

Topics Discussed

  • 403(b) plans – the basics
  • Governmental regulations and reporting requirements
  • Fundamentals of 403(b) Plan
  • Engagement planning and internal control environment
  • Audit and accounting issues of 403(b) plans
  • Plan sponsor action steps
  • Audit opinions and financial statements
  • Form 5500 and other items for considerations

Learning Objectives
When you complete this course, you will be able to:

  • Distinguish between the operating differences of a 401(k) and a 403(b) plan
  • Identify the key issues that must be addressed in preparing for the initial audit of the 403(b) plan
  • Recognize the unique internal controls that should be present for a 403(b) plan
  • Recognize the challenging open issues on the definition of a plan participant and a plan asset
  • Design audit procedures responsive to the unique attributes of 403(b) plans
  • Plan the scope of the audit with particular attention to first-time-through procedures
  • Apply the accounting requirement for employee benefit plans to this arrangement

Prerequisite: Understanding of the audit of an employee benefit plan and the basics of ERISA

Advanced Preparation: None

Table of Contents


Subscription Info

Other Options

NASBA Field of Study: Accounting and Auditing
Level: Intermediate
Recommended CPE Credit: Text - 8 (Auditing 5; Accounting 3); On-Demand: 12 - (Auditing 9; Accounting 3)
Audits of 403(b) Plans
Text , 2014
Product# 745764
Availability: In Stock
AICPA Member:$165.00
Your Price:$206.25
Audits of 403(b) Plans
CPE On-Demand , 2014
Product# 153702
Availability: Online Access 1 Year
For registered users only
AICPA Member:$165.00
Your Price:$206.25
To receive your AICPA member discount, Sign In now, or Register using your AICPA membership number.