Advanced Audits of 401(k) Plans: Best Practices and Current Developments - Webcast
Overview
Looking to improve the quality of your 401(k) benefit plan audits? This is the course for you. Based on recent data from the U.S. Department of Labor and peer reviews on employee benefit plan audits, we know auditors need to up their game to meet stakeholder demands and provide the best possible audit services. In this advanced course, we will discuss the audit and reporting requirements in accordance with SAS 136 and other recently issued SASs. We will also discuss laws and regulations (such as ERISA) that are unique to employee benefit plans and provide practical guidance on their application. Course topics will focus on the most common compliance issues identified in 401(k) audits by the Department of Labor and peer reviews, as well as recommended corrections. Auditors will identify best practices for auditing areas such as payroll and compensation, participant loans, hardship distributions, investments, and plan mergers and acquisitions.
OSCPA has partnered with the Washington Society of CPAs for this event.
Highlights
Audit requirements for ERISA Schedule 103(a)(3)(C) audits, An annual update of the changes affecting 401(k) plans, Compliance issues associated with eligibility and enrollments, remittances, lack of oversight, compensation, vesting, and other topics, Best practices for engagement planning, internal controls, risk assessment, and detailed testing, Avoiding common mistakes while performing audit procedures, Plan mergers and acquisitions, Common audit reporting and disclosure issues
Prerequisites
A basic understanding of auditing defined contribution plans
Designed For
Experienced practitioners responsible for planning and performing employee benefit plan audit engagements
Objectives
Identify key provisions of recently issued SASs, Identify the current year changes to the rules and regulations affecting 401(k) plans, Understand the most common compliance issues encountered in 401(k) plan audits, pitfalls to watch out for, and strategies to ensure compliance, Perform efficient and effective procedures associated with planning, internal controls, risk assessments, and detailed audits, Explain the documentation and procedures related to plan mergers and acquisitions, Discuss the best practices associated with advanced audit areas, including participant loans, payroll, compensation, and investments, Understand the risks associated with a benefit plan audit engagement
Leader(s):
Leader Bios
Robert Bedwell, Surgent CPE
Robert P. Bedwell, CPA, is an Audit and Advisory professional with over 36 years of audit and accounting experience. Bob regularly assists clients with a full range of corporate audit and assurance services, including financial statement preparation, auditing, SEC reporting, mergers, acquisitions, divestitures, due diligence, financing regulatory compliance, accounting system oversight, internal controls, IFRS conversions, Sarbanes-Oxley compliance advisory, and the independent review of external data.
Bob has been a discussion leader on numerous topics for Surgent Professional Education, the Florida Institute of Certified Public Accountants and the AICPA as well as for the firms for which he has worked, and has received high evaluations for his knowledge of topics and presentation skills.
Bob received his Bachelor of Science in Accounting and Finance from Upsala College in East Orange, New Jersey, and has also earned a Masters in Accounting from Florida Atlantic University. Licensed as a Certified Public Accountant in Florida, Bob is a member of the Florida Institute of Certified Public Accountants (FICPA) and the American Institute of Certified Public Accountants. He has previously served as chairman of the FICPA Accounting Principles and Auditing Standards Committee.
(5/26/21)
Non-Member Price $395.00
Member Price $315.00