Surgent's Annual Update for Defined Contribution Plans

Overview

This course will provide a general understanding of the new reporting and disclosure requirements for employee benefit plans under the now effective SAS 136, the AICPA’s new employee benefit plan auditing standard. Participants will be provided with an insight into the common errors and mistakes made by auditors and plan administrators, as well as the new requirements of both groups under the new SAS. The course will discuss the results from the Department of Labor’s (“DOL”) Criminal Enforcement initiative and audit quality study, and focus on the causes of the recent increase in the number of deficient engagements identified by the peer review process. This course will provide auditors and plan administrators with up-to-date information regarding defined contribution plans auditing, reporting and disclosure requirements, including those related to the new ERISA Section 103(A)(3)(c) audits under SAS 136.

Highlights

• Common risks and pitfalls associated with defined contribution plans
• Nuances of the fair value disclosures
• New reporting and disclosure requirements for the current year
• Results of DOL Audit Quality Study

Prerequisites

Basic understanding of defined contribution and defined benefit plans

Designed For

Auditors and Plan administrators of Defined Contribution Plans

Objectives

• Prepare for the current year’s audit
• Gain a general understanding of the current and prospective reporting and disclosure requirements for employee benefit plans
• Identify common errors and mistakes made by auditors and plan administrators

Preparation

None

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by Surgent. Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.