This session will focus on investments held by a defined contribution plan. Facilitators recommend bringing your laptop to this session to fully participate in the case study.
•Identify the key characteristics of various investments commonly held by the plan, including insurance products, common/collective trust funds, pooled separate accounts, mutual funds, and self-directed brokerage accounts.
•Recall how to design audit procedures to cover the identified assertions
•Identify testing procedures, including sampling, over investments and investment income
•Recognize some of the unique financial reporting requirements for investments