FinREC issues working draft on multiemployer benefit plans

By Ken Tysiac

The AICPA Financial Reporting Executive Committee (FinREC) issued a working draft Tuesday 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.

Ken Tysiac (Kenneth.Tysiac@aicpa-cima.com) is the JofA’s editorial director.

SPONSORED REPORT

A new line of business to consider

Technology assessments may open the door to new engagement opportunities for your firm. What is a technology assessment? How do you perform one? JofA Tech Q&A author J. Carlton Collins shows you in a detailed explanation.

FEATURE

Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.