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Employee Benefit Plans - Audit and Accounting Guide

Publisher: AICPA
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Provide Top Level Service to Your EBP Audit Clients

Avoid Common Deficiencies in Employee Benefit Plan Audits

This comprehensive “must have” resource provides practical guidance and procedures on the EBP financial statement audit process required by professional standards.

Being in compliance with professional standards ensures that you pass peer review and are not at risk for rejection by the Department of Labor (DOL). Following the audit procedures laid out in this guide will help you avoid common deficiencies found by the DOL and AICPA Peer Review.

Updated by the AICPA, with input and review from the Employee Benefit Plan Expert Panel as well as some of the industry’s leading players, the 2015 edition offers essential information and hands on advice on the many aspects of auditing and accounting for employee benefit plans.

The 2015 edition provides the latest on new standards requirements including: liquidation basis of accounting, using the work of internal audit, disclosure of uncertainties about an entity’s ability to continue as a going concern, a revised illustrative Form 11-K auditor’s report, and expanded discussion of engagement quality control reviews.

Key Benefits

  • Provides the latest auditing guidance specific to defined contribution retirement plans, defined benefit pension plans and health and welfare benefit plans
  • Covers specialized accounting for employee benefit areas, such as contributions and contributions receivable, presentation of plan investments for defined benefit pension plans and health and welfare benefit plans, rollovers, forfeitures, rebates, stop-loss arrangements, plan mergers and spin-offs, claims, postemployment benefits, terminating and frozen plans and the various recommended disclosures
  • Helps ensure Form 11-K auditor’s report for employee benefit plans is compliant with the new requirements under AS No. 17, Auditing Supplemental Information Accompanying Audited Financial Statements (AICPA, PCAOB Standards and Related Rules, Auditing Standards.)

Key updates to the Guide range from knowing the requirements for liquidation basis of accounting, through an expanded look at FASB ASU No. 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, to a close look at the changes required by SAS No. 128, Using the Work of Internal Audit.

Get even more value with the Employee Benefit Plans: Audit & Accounting Set. This convenient bundle gives you access to the full range of Employee Benefit Plan content offered by the AICPA, all in one convenient online subscription. This online bundle includes how-to advice and authoritative guidance, valuable discussion, best practices, and much more. Follow the link above for more details.
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This product is also available in an online subscription format that includes the corresponding Employee Benefit Plans Industry Developments - Audit Risk Alert, content updates and unlimited online access for 1 year. Select the Online Subscription option at the bottom of the page and save!
eBook , 2015
Product# AAGEBP15E
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