The increasing complexity of employee benefit plan auditing and increased scrutiny by the DOL have resulted in significant pressure for CPAs and firms performing EBP audits.
To help CPAs meet the challenge of performing quality audits in this unique and complex area, the AICPA has developed this Alert to help you identify current sources of risk within the plan and its environment.
You’ll find targeted discussion of new developments, issues auditors may face in their current audits, and a look at what’s in the pipeline that may affect your engagements.
Current developments on health care reform and its effect on employee benefit plans
Coverage of emerging practice issues, including disclosures about offsetting assets and liabilities, fair value measurement, and liquidation basis of accounting.
In-depth look at testing journal entries to address risk of management override of controls, as well as expense arrangements.
Analysis of high-risk areas specific to defined benefit pension plans, such as PBGC premiums, de-risking, and demographic and economic assumptions.
Up-to-date information on regulatory developments from both the DOL and IRS
FASB ASU No. 2014-06, Technical Corrections and Amendments—Master Glossary
FASB ASU No. 2013-09, Deferral of the Effective Date of Certain Disclosures for Nonpublic Employee Benefit Plans
FASB ASU No. 2013-07, Liquidation Basis of Accounting
FASB ASU No. 2012-04, Technical Corrections and Improvements
FASAB ASU No. 2011-11, Disclosures About Offsetting Assets and Liabilities
FASB ASU No. 2011-04, Achieving Common Fair Value Measurements and Disclosure Requirements
This alert also includes information on emerging issues such as:
Testing Journal Entries to Address Risk of Management Override of Controls
PBGC Premiums for Defined Benefit Pension Plans
De-Risking of Defined Benefit Pension Plans
Bundle and Save: This product is also available as part of an online subscription that includes the corresponding Audit and Accounting Guide, content updates and unlimited online access for 1 year. Click here and select the Online Subscription option at the bottom of the page to purchase.
Bundle and Save: This product is also available in an online subscription format that includes the corresponding Employee Benefit Plans - Audit and Accounting Guide, content updates and unlimited online access for 1 year. Select the Online Subscription option at the bottom of the page to the Guide and Alert together, and save!
If purchasing this title as an eBook, please note that it is intended for a single user. An eBook is a downloadable file that will be accessible immediately after completing your purchase. Access to the download link expires 180 days from the purchase date. Download the file before this time elapses. Before downloading your eBook, you must:
Return to CPA2Biz.com and go to My Account > My Downloads
Click the eBook title to download and open automatically in Adobe Digital Editions
Note: To access your eBook on a smartphone, tablet or other reading device, see our FAQ. This product is refundable within 10 days of your purchase date. For more information about this product or service concerns, please contact the CPA2Biz/AICPA Service Center at firstname.lastname@example.org or call 888-777-7077.