Conduct a compliant audit
- Identify proper audit procedures to test the line items of the statement of net assets available for benefits, including investments.
- Identify proper audit procedures to test the activity in the statement of changes in net assets available for benefits, including participant testing.
Plan investments
- Differentiate plan investment procedures based upon the type of audit and risk assessment.
- Identify types and classifications of common plan investments.
- Identify audit procedures required for investment activity, contributions and benefit payment or withdrawals at the participant level.
GAAP presentation and disclosure
- Understand GAAP requirements for presentation and disclosure for employee benefit plan financial statements.
Other audit considerations
- Recognize procedures needed to determine the plan’s tax status
- Learn how to identify related parties, parties in interest, and prohibited transactions.
- Recognize additional audit procedures needed for Form 11-K filers.