Webcast: Surgent's Advanced Audits of 401(k) Plans: Best Practices and Current Developments
8.0 Credits
Member Price $255.00
Non-Member Price $340.00
Overview
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.
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
Prerequisites
A basic understanding of auditing defined contribution plans
Designed For
Experienced practitioners responsible for planning and performing employee benefit plan audit engagements
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
Leader(s):
Leader Bios
Melissa Critcher, Surgent McCoy CPE, LLC
Melissa G. Critcher, CPA is a member of both the American Institute of Certified Public Accountants (AICPA) and the North Carolina Association of Certified Public Accountants (NCACPA). She has served in various roles with the NCACPA including member of the Board of Directors, committee member for the Accounting and Attestation Committee as well as local chapter positions. She is one of the recipients of the 2010 and 2011 AICPA Outstanding Discussion Leader Award. Critcher’s background in accounting includes more than 15 years experience in public accounting specializing in auditing defined contribution and defined benefit employee benefit plans as well as manufacturing, distribution and professional service organizations. Her public accounting experience includes a position as a senior audit manager with Greer & Walker, LLP in Charlotte, North Carolina, a manager at a regional firm in Raleigh, North Carolina prior to re-locating to Charlotte. Critcher also worked with a local firm in Winston-Salem. During her career, Critcher has been responsible for managing the employee benefit plan niche, marketing and business development and conducting in-house training seminars. Since 2002 Critcher has led discussion seminars on the AICPA’s Audits of 401(k) Plans for the NCACPA. Additional seminars include Audit Documentation and Review, Employee Benefit Plan Audits, Small Business Audits, etc.
Non-Member Price $340.00
Member Price $255.00