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Employee Benefit Plans Industry Developments - Audit Risk Alert
Features discussions on new developments and issues auditors may face in their current audits, and a look at what's in the pipeline that may affect your engagements.

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Meet the challenge.

Who Will Benefit?

Smaller, regional, and large accounting firms need this alert to understand the key risks for the current year's audit and the many aspects of the following:

  • Specialized auditing and accounting for defined benefit pension plans, defined contribution retirement plans including employee stock ownership plans, and health and welfare benefit plans
  • Regulatory requirements (DOL rules and regulations)

Key Topics

  • Master trust reporting
  • FASB ASU No. 2018-13
  • New proposed auditor's reports
  • Risk assessment and control reliance
  • Fee arrangements in defined contribution retirement plans
  • Missing participants and uncashed checks
  • Data analytics

The increasing complexity of employee benefit plan auditing and focus by the DOL have resulted in significant pressure for CPAs and firms performing EBP audits. To help CPAs meet the challenge of performing quality audits in this unique and complex area, the Association has developed this alert to assist you in identifying current sources of risk within EBP audit engagements.

Written by a task force consisting of current and former employee benefit plan expert panel members, this alert features discussions on new developments and issues that auditors may face in their current audits, as well as a look at what's in the pipeline that may affect your engagements.

Updates in 2019

  • FASB ASU No. 2017-06, Employee Benefit Plan Master Trust Reporting
  • FASB ASU No. 2018-09, Codification Improvements
  • FASB ASU No. 2018-13, Fair Value Measurement (Topic 820), Disclosure Framework–Changes to the Disclosure Requirements for Fair Value Measurement

Bundle & Save

This product is also available in an online subscription format that includes the corresponding Employee Benefit Plans: Audit and Accounting Guide, content updates and unlimited online access for 1 year. Click here and select the Online Subscription option and save!

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American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialized credentials for qualified professionals who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.

The AICPA and CIMA also make up the Association of International Certified Professional Accountants (the Association), which represents public and management accounting globally, advocating on behalf the public interest and advancing the quality, competency and employability of CPAs, CGMAs and other accounting and finance professionals worldwide.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.

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