Employee Benefit Plan Auditing

Topics

July 17, 2024

Warning for EBP audit firms: Service agreements can create headaches

A letter from the Employee Benefit Plan Audit Quality Center addresses nondisclosure agreements and recommends actions that auditors can take to avoid running afoul of legal, regulatory, or professional standards.

June 26, 2024

A&A Focus recap: Top A&A and employee benefit plan issues

The June installment of the monthly newscast series reviews the top issues raised at two of the AICPA’s premier conferences, looks at software being used by auditors, and includes an update from the AICPA’s chief auditor.

December 15, 2023

DOL report points out deficiencies in employee benefit plan audits

The report examined filings from 2020, finding that 70% of audits either fully complied with auditing standards or had minor deficiencies.

September 2, 2021

EBP audits set for major changes, more transparency

Employee benefit plan audit procedures and reporting will undergo a significant shift as SAS No. 136, as amended, is implemented.

June 10, 2021

FinREC addresses EBP revenue recognition implementation

Revenue recognition issues for employee benefit plans are addressed in proposed implementation guidance issued by the AICPA Financial Reporting Executive Committee.

April 15, 2021

EBP audits: Document so your steps can be retraced

Thorough documentation demonstrates the quality that a practitioner has delivered in any audit. Amid the coronavirus pandemic, documentation provides auditors an opportunity to show they are on top of the many changes that plans may have undergone.

April 12, 2021

EBP tax compliance testing tips

Employee benefit plan tax professionals need to dig deep in search of affiliates under common control and must carefully assess whether plans are skewed in favor of highly compensated employees.

FROM THIS MONTH'S ISSUE

How a CPA beat burnout after strokes, depression

Get ready for tax season with the JofA’s annual filing season quick guide, an easy-to-use compilation of dollar thresholds, tax tables, standard amounts, credits, and deductions. Download and print for quick reference this tax season.