This checklist was designed to assist auditors and preparers in overcoming the complexities of financial statement preparation for defined contribution retirement plans. Whether you are preparing financial statements or auditing those financial statements, you’ll find the tools you need in this helpful resource.
It contains the most comprehensive U.S. GAAP disclosure guidance available, and identifies the reporting requirements that you need to know and apply to meet the applicable standards. FinREC recommendations regarding many accounting topics, are included throughout.
In addition, this edition includes useful tools such as 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. 2011-04, Fair Value measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs
FASB ASU No. 2011-11, Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities
FASB ASU No. 2012-04, Technical Corrections and Improvements
FASB ASU No. 2013-01, Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities
FASB ASU No. 2013-07, Presentation of Financial Statements (Topic 205): Liquidation Basis of Accounting
FASB ASU No. 2013-09, Fair Value Measurement (Topic 820): Deferral of the Effective Date of Certain Disclosures for Nonpublic Employee Benefit Plans in Update No. 2011-04
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