Auditing Financial Statements of ERISA Plans

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.