Employee Benefit Plans: Audit and Accounting Guide
Designed to bridge the gaps between the what, why and how to satisfy your auditor responsibilities, this guide gives you confidence when issuing your audit reports, or when others are evaluating your work.

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Your roadmap to EBP audit success

Important Note: The 2019 edition has been updated to reflect adoption of FASB ASU 2017-06, Employee Benefit Plan Master Trust Reporting, effective for fiscal years beginning after December 15, 2018. For plans that are not early adopting FASB ASU 2017-06, we are continuing to offer the 2018 edition in all formats as a resource for requirements prior to the effective date of the ASU.


2019 Edition:

  • Essential guidance for application of GAAS in an EBP audit.
  • References to authoritative accounting guidance for defined contribution (DC), defined benefit (DB) and health and welfare (HW) plans in FASB ASC
  • Guidance on accounting, reporting and disclosure for EBP transactions not addressed in FASB ASC as supported by FinREC
  • Use of a SOC 1 report
  • Use of a specialist (including actuaries and appraisers)
  • Forming an opinion and reporting on EBP financial statements (for full and limited scope EBP audits)
  • Illustrative auditor communications and financial statements
  • Explanation of pervasive regulatory requirements (DOL rules and regulations)

2018 Edition:

  • Specialized guidance related to defined benefit pension plans, defined contribution retirement plans (including employee stock ownership plans), and health and welfare benefit plans
  • Specific requirements and provisions related to going concern
  • Specific changes to the 11-K auditor's report
  • Accounting guidance for specialized employee benefit areas, such as contributions and contributions receivable, presentation of plan investments, rollovers, plan mergers and spin-offs, and many more
  • Guidance on requirements of the clarified auditing standards, including use of a SOC 1 report, terms of the engagement, and forming an opinion and reporting on financial statements
  • Explanation of regulatory requirements (DOL rules and regulations


Who Will Benefit?

  • Practitioners in public practice with EBP clients

Whether you're a new or seasoned EBP auditor, you want your name to be on work you can be proud of. This guide is your ideal roadmap to compliance, giving you authoritative guidance, practical tips and illustrative examples to help you at each stage of the audit.

Flawlessly navigate every turn from acceptance to completion.

Designed to bridge the gaps between the what, why and how to satisfy your auditor responsibilities, this guide gives you confidence when issuing your audit reports, or when others are evaluating your work.

In the spotlight — Risk Assessment (including internal control) and Documentation

  • Taking the guess-work out of risk assessment and development of audit procedures by EBP audit area for DC (including ESOPs), DB and HW plans
    • Defined relevant assertions
    • Example Risks of Material Misstatement (“what can go wrong”) at the relevant assertion level to consider
    • Example audit procedures to consider in response to what can go wrong
  • Rerouting to avoid roadblocks and focus on issues that may require consultation
  • Providing Simple route to your destination&helllip; an effective and efficient risk-based EBP audit performed and documented in accordance with professional standards

Updates in the 2019 edition

  • Address the issuance of FASB ASU 2017-06 for master trust reporting.
  • Highlight select recent developments in standards impacting EBP auditing and accounting.


Get even more value with the Employee Benefit Plans: Audit & Accounting Set. This convenient bundle gives you access to the full range of Employee Benefit Plan content offered by the AICPA all in one convenient subscription. This online bundle includes how-to advice and authoritative guidance, valuable discussion, best practices, and much more. Follow the link above for more details.

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This product is also available in an online subscription format that includes the corresponding Employee Benefit Plans Industry Developments - Audit Risk Alert, content updates and unlimited online access for 1 year. Select the Online Subscription option and save!

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American Institute of CPAs

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