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Thursday, May 16, 2024 Live Webcast

Audits of Employee Benefit Plans Conference (E2405210)

8:00 AM - 4:00 PM EDT
webcast

ON24

8 CPE Credits in AA

OVERVIEW

As you aim for quality, excellence and efficiency in your employee benefit plan audit practice, spend a day with us to explore standards, issues and strategies that are on the horizon for 2024 and beyond.

DESIGNED FOR

CPAs involved in the auditing of employee benefit and pension plans

HIGHLIGHTS

According to a U.S. Department of Labor (DOL) report released last December, 70% of audits of employee benefit plan financial statements fully complied with auditing standards or had minor deficiencies. Ensure your practice is in the 70%. This conference will focus on the current audit landscape, procedures to strengthen quality and practices to mitigate deficiencies.


8-8:50 a.m.

SECURE Act 2.0 Rules Reshaping Qualified Retirement Plans: Considerations for 2024 and Beyond

Tyler Reedman, CFP - HFM Investment Advisors, LLC

Explore the dynamic landscape of qualified retirement plans in the post-SECURE Act 2.0 era. We’ll review the latest rules and regulations reshaping qualified retirement plans, offering valuable insights for CPAs navigating the complexities of 2024 and beyond.

 

9-10:15 a.m.

U.S. Department of Labor Update

Michael Auerbach, CPA – U.S. Department of Labor

Hear from the Employee Benefits Security Administration's Office of the Chief Accountant about new developments and essential measures for ERISA compliance

 

10:25-11:15 a.m.

Internal Controls and SOC Reports

Heather Karpawich, CPA – Grant Thornton LLP

Mia Tempesta, CPA – Grant Thornton

Learn how internal controls, including those at service providers, affect the audit procedures, timing and scope. We’ll discuss how SOC 1s impact audit procedures, audit considerations and documenting the considerations.

 

11:25 a.m.-12:15 p.m.

SAS 143 and SAS 145 Update

Michael Kaplan, CPA - Smolin, Lupin & Co., LLC

This session will cover the following topics:
  • Statement on Auditing Standards No. 143, Auditing Accounting Estimates and Related Disclosures
  • Statement on Auditing Standards No. 145, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement

 

12:45-1:35 p.m.

Definition of Compensation

Anastasia Romeo, CPA - WithumSmith+Brown, PC

Coral Lykkebak - CPA - WithumSmith+Brown, PC

Hear an overview of eligible compensation for retirement plans and learn how to identify different types of eligible compensation. Then, review best practices to test eligible compensation and receive practice points on common errors.

 

1:45-2:35 p.m.

AICPA Employee Benefit Plan Audit Quality Center Update

Sue Hicks, CPA - AICPA
Joe Zamboni, CPA - AICPA

Discuss the AICPA’s response to the 2023 DOL audit quality study report and EBPAQC tools and resources that address many of the audit quality issues identified in the study. Discover AICPA and EBPAQC resources to help you perform efficient and effective EBP audits.

 

2:45-4 p.m.

Common Reporting and Auditing Issues

Donna Nevolo, CPA – WithumSmith+Brown, PC

Sean Linde, CPA – WithumSmith+Brown, PC

This session will cover the most common deficiencies encountered while performing audits of employee benefit plans.

COURSE LEVEL

Basic

INSTRUCTORS

Michael Auerbach

Michael E. Auerbach, CPA
(4.7)

Chief Accountant, Division of Accounting Services

US Department of Labor

As the Chief Accountant, Employee Benefits Security Administration, Mr. Auerbach is responsible for managing the resources of the Office of the Chief Accountant and implementing various comprehensive, nationwide enforcement programs relating to certain provisions of the Employee Retirement Income Security Act (ERISA). He also provides ERISA related accounting and auditing technical expertise within the Employee Benefits Security Administration and is the liaison with the American Institute of Certified Public Accountants (AICPA), the Financial Accounting Standards Board (FASB) and other professional organizations. Mr. Auerbach provides executive oversight and leadership for EBSA’s fiduciary oversight program for the federal government’s Thrift Savings Plan (TSP). The TSP is the largest defined contribution plan in the world, with assets of in excess of $500 billion and 5.0 million participants.

Mr. Auerbach is a certified public accountant and earned his B.S. in accounting, from the University of Maryland.