Webcast: Advanced Audits of 401(k) Plans - Best Practices and Current Developments
420 | Webcast | Advanced | Scheduled
Description
Looking to improve the quality of your 401(k) benefit plan audits? This is the course for you. Based on recent data from the U.S. Department of Labor and peer reviews on employee benefit plan audits, we know auditors need to up their game to meet stakeholder demands and provide the best possible audit services. In this advanced course, we will discuss the audit and reporting requirements in accordance with SAS 136 and other recently issued SASs. We will also discuss laws and regulations (such as ERISA) that are unique to employee benefit plans and provide practical guidance on their application. Course topics will focus on the most common compliance issues identified in 401(k) audits by the Department of Labor and peer reviews, as well as recommended corrections. Auditors will identify best practices for auditing areas such as payroll and compensation, participant loans, hardship distributions, investments, and plan mergers and acquisitions.
Credits
| Number of Credits | Type of Credits |
|---|---|
| 8.00 | Auditing |
Designed For
Experienced practitioners responsible for planning and performing employee benefit plan audit engagements
Prerequisites
A basic understanding of auditing defined contribution plans
Highlights
- Audit requirements for ERISA 103(a)(3)(C) audits
- An annual update of the changes affecting 401(k) plans
- Compliance issues associated with eligibility and enrollments, remittances, lack of oversight, compensation, vesting and other topics
- Best practices for engagement planning, internal controls, risk assessment and detailed testing
- Avoiding common mistakes while performing audit procedures
- Plan mergers and acquisitions
- Common audit reporting and disclosure issues
Objectives
- Identify key provisions of recently issued SASs
- Identify the current year changes to the rules and regulations affecting 401(k) plans
- Understand the most common compliance issues encountered in 401(k) plan audits, pitfalls to watch out for, and strategies to ensure compliance
- Perform efficient and effective procedures associated with planning, internal controls, risk assessments and detailed audits
- Explain the documentation and procedures related to plan mergers and acquisitions
- Discuss the best practices associated with advanced audit areas, including participant loans, payroll, compensation and investments
- Understand the risks associated with a benefit plan audit engagement
Prices
- Member (Early Bird)
- $269.00
- Non-Member (Early Bird)
- $369.00
- Member
- $269.00
- Non-Member
- $369.00
Instructors
Melissa G. Critcher, CPA
Melissa G. Critcher attended Appalachian State University where she received a B.S. in accounting. Throughout the course of her career, she has had the opportunity to work with small and large, local and regional firms across North Carolina.
Currently, Melissa has her own practice in Charlotte, North Carolina. She has extensive experience in auditing and accounting, which includes manufacturing, professional service, health care, and retail industries with a specialization in employee benefit plans. Currently, her practice concentrates on auditing employee benefit plans and consulting with CPA firms and plan sponsors.
Melissa's experience has led to various opportunities, which include teaching numerous continuing professional education courses for the AICPA, the NCACPA, Surgent, and CPA firms, as well as for public and privately held entities. She has been repeatedly recognized as an outstanding discussion leader by the AICPA and NCACPA. Melissa has also authored several different courses for the AICPA, Surgent, and others on topics such as employee benefit plans, internal controls, and compilation and review engagements.
Throughout the course of her career, she has served in various roles with both the NCACPA and AICPA. These positions include serving as a member of the NCACPA Board of Directors and as a committee member for the NCACPA Accounting and Attestation Committee, as well as holding local chapter positions for the NCACPA.
For the past seven years, Melissa has also served as a volunteer on the AICPA Enforcement Committee for Employee Benefit Plans, which is responsible for evaluating referrals from the Department of Labor for deficient audits and makes recommendations for disciplinary actions.
Back to Instructors