Employee Benefit Plans: Contribution and Distribution Testing (Currently Unavailable)
Author: Lewis R. Fisher
| CPE Credit: |
2 hours for CPAs |
Employee Benefit Plan (EBP) audits create a unique challenge for the auditor, as the key testing sections are vastly different than a traditional corporate audit. The key functional areas of contributions and distributions comprise a significant portion of the required audit testing. This course will take a deeper dive into the testing strategies, the overall audit plan, and provide guidance for properly documenting your audit files.
Publication Date: July 2020
Designed For
Those looking to deepen their understanding of contribution and distribution testing of EBP’s and to improve their overall audit documentation.
Topics Covered
- Planning the Audit Approach
- Confidentiality Concerns
- The Audit Approach
- Participant Level Testing
- Important Plan Level Testing Requirements
- Regulatory Issues
Learning Objectives
- Recognize how to plan and execute testing over contributions and distributions
- Identify and document exceptions in an efficient and safe manner
- Describe key terminology that will guide distribution testing
- Recognize and apply regulatory issues and the associated correction options available to Plan sponsors
- Identify reasons to increase sample selections
- Describe characteristics of profit-sharing contributions
- Identify acceptable uses of forfeitures
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Auditing (2 hours)
Program Prerequisites
None
Advance Preparation
None
