Due to increasing scrutiny in the employee benefit plan area, it is imperative for auditors of 401(k) plans to remain up to date on the rules and regulations that may impact the audit engagement. Auditors will enhance their knowledge by understanding the changes effecting audit procedures and reporting, identifying best practices, and performing efficient audit engagements.
- Understand the current changes to the rules and regulations associated with 401(k) Plans
- Identify best practices associated with engagement performance
- Understand the risks associated with a benefit plan audit engagement
- Avoid common mistakes noted during peer reviews
- Annual update of the changes affecting 401(k) plans
- Discuss audit strategy while improving overall efficiency
- Description of common mistakes as noted in peer reviews and DOL inspections