Since 401(k) plans make a popular option for employee benefit plans, auditors of employee benefit plans must have the proper skills to audit these plans effectively. You will work through how to audit a 401(k) plan and prepare financial statements that satisfy ERISA and SEC requirements. Tap into ways to plan and conduct 401(k) audits more efficiently and effectively, and understand the differences between 401(k) audits and other employee benefit plan audits.
Learning Objectives
Recognize the requirements for 401(k) audits to distinguish between audits of other types of employee benefit plans and 401(k) audits. Identify efficient and effective ways to plan and conduct 401(k) audits. Recognize new developments affecting 401(k) audits.
Major Topics
Background of 401(k) audits Audit planning and pre-engagement activities Internal control considerations Auditing the statement of net assets available for benefits Auditing the statement of changes in net assets available for benefits Other auditing considerations The auditor's report Financial statement disclosures Supplemental schedules
