Employee benefit plan (EBP) audit engagements continue to be scrutinized by regulators and peer reviewers due to history of noncompliance with applicable professional standards. Auditors require proper skills to perform EBP engagements effectively. You will work through the plan audit process from client acceptance/continuance through engagement archive. As the most common type of plans audited, you will take a deep dive into defined contribution plans to comply with professional standards, ERISA and SEC requirements. You will also obtain an awareness of additional considerations when auditing defined benefit pension plans and health and welfare benefit plans. Tap into ways to plan and conduct effective risk-based plan audits to comply with professional standards while maximizing efficiency.
Background of ERISA plan audits. GAAP vs. ERISA reporting requirements. Audit planning and pre-engagement activities. Risk assessment. including consideration of internal control. Auditing the statement of net assets available for benefits. Auditing the statement of changes in net assets available for benefits. Other auditing considerations. including prohibited transactions and tax compliance. The auditor’s report. Financial statement disclosures. Supplemental schedules.
Recognize the auditing requirements for EBP audits to comply with applicable professional standards and regulator expectations. Identify accounting requirements unique to employee benefit plans, Identify efficient ways to plan and conduct an effective risk-based EBP audit. Recognize new auditing, accounting and regulatory developments impacting EBP audits, including SAS No. 136. Distinguish applicable auditing standards based upon implementation of SAS Nos. 134-140.
Howard Sibelman, CPA, MBT - As the former Education Director for Crowe Horwath International, Howard provided leadership on audit methodology, the CaseWare CH International Audit Template, training initiatives and accounting and auditing technical support to the CH International members.
Immediately prior to joining CH International, Howard was a Business Assurance Partner at Moss Adams. At Moss Adams, Howard was a member of the firm’s International Services Group, IFRS Core Training Group, and Quality Control Coordinator for the Los Angeles office.
Howard serves on the CalCPA Accounting Principles and Assurance Standards Committee. Howard has extensive experience in accounting, auditing and consulting to middle-market companies.
During his 50 year career as an auditor, 30+ years as an audit partner, Howard was CPE Director for a national CPA firm, an instructor at the University of Southern California, on the faculty of two of the largest CPA review courses, and has authored and/or facilitated numerous firm, AICPA and CalCPA education programs.
Howard was also a founding member of the AICPA Employee Benefit Plans Audit Quality Center Executive Committee.
Non-Member Price $309.00
Member Price $259.00