FinREC issues working draft on multiemployer benefit plans

A proposed chapter will be added to an AICPA Audit and Accounting Guide.

The AICPA Financial Reporting Executive Committee (FinREC) issued a working draft of a proposed chapter on multiemployer benefit plans and illustrative financial statements, which will be added to the AICPA Audit and Accounting Guide Employee Benefit Plans.

FinREC is seeking comments on the working draft, which includes material that was developed to help preparers of multiemployer plan financial statements comply with GAAP and to assist auditors of those financial statements perform their engagements.

Informal feedback can be submitted by Nov. 6 to Di Krupica at Di.Krupica@aicpa-cima.com.

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100th ANNIVERSARY

Black CPA Centennial, 1921–2021

With 2021 marking the 100th anniversary of the first Black licensed CPA in the United States, a yearlong campaign kicked off to recognize the nation’s Black CPAs and encourage greater progress in diversity, inclusion, and equity in the CPA profession.