Audit quality has been a focal point by the Department of Labor for many years and must be taken seriously by the auditor. Employee Benefit Plan audits have always presented a myriad of practice issues and risks that practitioners must address. This course addresses and provides guidance and best practices in four of the more significant risk areas of the audit as well as the status of the new reporting model.
- Auditing participant data and contributions
- Identifying and addressing risk of fraud
- Identifying and reporting on plan operational defect and prohibited transactions
- Understanding the SOC report
DESIGNED FOR
Audit practitioners having responsibility for planning and supervising audits, as well as other members of audit engagement teams involved with the assessment of risk on an EBP audit.
BENEFITS
- Identify audit risk areas including the risk due to fraud
- Develop and perform appropriate audit testing to address the assessed audit risks
- Link the risk assessed with the evidence accumulated
HIGHLIGHTS
- Status of new audit reporting model
- Audit planning, testing and documentation strategies for participant data and contributions
- Identifying and addressing the risk of fraud
- Planning efficient and effective brainstorming sessions
- Identifying and reporting on party-in-interest transactions
- Identifying plan operational deficiencies
- Reporting on prohibited transactions
- Understanding and utilizing the SOC report effectively
- Required communications with those charged with governance
COURSE LEVEL
Advanced
PREREQUISITES
Experience on Audits of Employee Benefit Plans.
ADVANCE PREPARATION
None
ADDITIONAL NOTES
Course materials are distributed electronically and we’ve passed the savings along to you - registrants save $20 on all 8-hour seminar pricing. To access the materials visit
My Events. Download to your laptop or tablet prior to the seminar, handouts are added as received.