Documenting Your EBP Audit: What You Need to Know

Overview

Document the work and thought process behind your employee benefit plan audit.

What you document matters
Understand different parts of the employee benefit plan (EBP) audit process, and learn to think holistically about your level of audit documentation. Understand the appropriate level of documentation in the performance of audit procedures of employee benefit plans, which will involve testing items that are not typically tested in audits of other types of entities.

Real-life examples
Learn from real-life examples and solutions, guided by a former employee benefit plan expert panel member and someone who performs peer reviews. Work in templates to truly understand documentation in an EBP audit, and learn best practices for documentation to incorporate into your audits.

Course Instructor: Alice Evans

Highlights

Audit planning

Risk assessment and control testing

Documentation best practices for investments and notes receivable

Key audit areas in the financial statements, such as contributions, benefit payments, and plan expense

Participant data and participant accounts

Initial audits, plan mergers, and other issues

Prerequisites

None

Designed For

Auditors of employee benefit plans

Objectives

Recognize areas in employee benefit plan audits that commonly lead to documentation deficiencies.
Recall the AICPA professional standards that address audit documentation.
Recall the practical aspects of unique EBP audit planning procedures.
Recognize effective documentation of all elements of risk assessment.
Recognize effective documentation of system narratives and walk-throughs.
Recall documentation concepts for investments and participant notes receivable.
Identify best practices for documenting audit procedures surrounding contributions and benefit payments.
Recall documentation for other audit areas not related to specific accounts.

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 AICPA. Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.