Sessions For All Days

06

Monday
1:15PM-2:30PM

EBP1905. ERISA Basics and Plan Documents

Instructor: Travis Jack, Brad Wall
Track: Audit Fundamentals
Knowledge Level: Basic
Field of Study: Auditing, Taxes
CPE Credits: 1.5

This session will provide a basic overview of ERISA, highlighting certain key elements for plan auditors, and introduce the plan document provisions of the defined contribution case study, which is utilized for all the fundamental track sessions.

Learning Objectives:

  • Recall the ERISA law from an auditor's perspective
  • Recognize different types of plan document designs and common plan amendments
  • Identify key plan provisions of the case study to consider risk assessment and develop audit procedures
  • Indicate key elements of the plan provisions using the AICPA EBPAQC's Plan Document Tool

06

Monday
2:40PM-3:55PM

EBP1912. Risk Assessment and Planning Part I

Instructor: Chip Harris, Theresa McDowell, Sara Wilson
Track: Audit Fundamentals
Knowledge Level: Basic
Field of Study: Auditing
CPE Credits: 1.5

This session is part 1 of 2 of working through the planning and risk assessment process for the fundamental track case study and will continue in Session #19. These sessions include consideration of SOC 1 reports and certifications for limited scope audits.

Learning Objectives:

  • Recognize necessary procedures to properly plan an employee benefit plan, through utilization of an example
  • Recall risk assessment standards and linkage to planned procedures based on risk evaluation by audit area at the assertion level, utilizing examples of documentation tools
  • Recognize when limited-scope audits are appropriate utilizing evaluation tool
  • Identify a SOC 1 report and recall its components' (i.e., user controls) impact on planned procedures and risk assessment by walking through a SOC 1 evaluation

06

Monday
4:25PM-5:40PM

EBP1919. Risk Assessment and Planning Part II

Instructor: Chip Harris, Theresa McDowell, Sara Wilson
Track: Audit Fundamentals
Knowledge Level: Basic
Field of Study: Auditing
CPE Credits: 1.5

This session is part 2 of 2 of working through the planning and risk assessment process for the fundamental track case. These sessions include consideration of SOC 1 reports and certifications for limited scope audits.

Learning Objectives:

  • Recognize necessary procedures to properly plan an employee benefit plan, through utilization of an example
  • Recall risk assessment standards and linkage to planned procedures based on risk evaluation by audit area at the assertion level, utilizing examples of documentation tools
  • Recognize when limited-scope audits are appropriate utilizing evaluation tool
  • Identify a SOC 1 report and recall its components' (i.e., user controls) impact on planned procedures and risk assessment by walking through a SOC 1 evaluation

07

Tuesday
10:15AM-11:30AM

EBP1927. Contributions, Eligibility and Participant Data, Part I

Instructor: Gwen Stoute Bryant, Tiffany White, Sara Wilson
Track: Audit Fundamentals
Knowledge Level: Basic
Field of Study: Auditing
CPE Credits: 1.5

This session is part 1 of 2 that focuses on the testing of eligibility, participant data and contributions for the fundamentals track case study, including discussion of common errors found in these areas. This session will be continued in Session #34.

Learning Objectives:

  • Identify the various contribution types that are typical in a defined contribution plan, review the annual limits, and understand the participant and employer contributions based on the fundamental track case study's plan provisions, considering eligibility and eligible compensation for each type of contribution
  • Recall the risk assessment of relevant assertions and the planned audit procedures of the case study
  • Select sampling and testing procedures utilizing examples from the case study for payroll, definition of compensation, participant eligibility, participant data, contributions, and the timely remittance of contributions
  • Recognize common errors found in testing of contributions, eligibility and participant data

07

Tuesday
11:40AM-12:30PM

EBP1934. Contributions, Eligibility and Participant Data, Part II

Instructor: Gwen Stoute Bryant, Tiffany White, Sara Wilson
Track: Audit Fundamentals
Knowledge Level: Basic
Field of Study: Auditing
CPE Credits: 1.0

Continuation of Session 27 focusing on the testing of eligibility, participant data and contributions for the fundamentals track case study, including discussion of common errors found in these areas.

Learning Objectives:

  • Identify the various contribution types that are typical in a defined contribution plan, review the annual limits, and understand the participant and employer contributions based on the fundamental track case study's plan provisions, considering eligibility and eligible compensation for each type of contribution
  • Recall the risk assessment of relevant assertions and the planned audit procedures of the case study
  • Select sampling and testing procedures utilizing examples from the case study for payroll, definition of compensation, participant eligibility, participant data, contributions, and the timely remittance of contributions
  • Recognize common errors found in testing of contributions, eligibility and participant data

07

Tuesday
1:30PM-2:45PM

EBP1941. Investments Commonly Used in Employee Benefit Plans

Instructor: Travis Jack, Brad Wall
Track: Audit Fundamentals
Knowledge Level: Basic
Field of Study: Auditing
CPE Credits: 1.5

This session provides an overview of investments commonly held by defined contribution plans and focuses on investment testing and disclosures relevant to the fundamentals track case study.

Learning Objectives:

  • Identify the key characteristics of various investments commonly held in plans, including insurance products, common/collective trust funds, pooled separate accounts, mutual funds, and self-directed brokerage accounts.
  • Recall the risk assessment of relevant assertions and the planned audit procedures of the case study
  • Select sampling and testing procedures utilizing examples from the fundamentals track case study for investments and investment income
  • Recognize unique financial reporting requirements for investments

07

Tuesday
2:55PM-3:45PM

EBP1948. Distributions and Plan Expenses

Instructor: Anne Morris, Tiffany White
Track: Audit Fundamentals
Knowledge Level: Basic
Field of Study: Auditing, Taxes
CPE Credits: 1.0

This session will provide an overview of distributions and common errors in a defined contribution plan and will focus on the testing of distributions and plan expenses for the fundamentals track case study.

Learning Objectives:

  • Identify the various types of distributions (retirement, rollovers, hardships, loans, etc.), vesting and forfeitures, as well as the different forms of payment (lump sum, annuities)
  • Recall the risk assessment of relevant assertions and the planned audit procedures of the case study
  • Select sampling and testing procedures for distributions (including vesting and forfeitures), participant loans, and hardships utilizing examples from the fundamental track case study

08

Wednesday
8:00AM-9:15AM

EBP1956. Financial Reporting and Audit Wrap-Up

Instructor: Gwen Stoute Bryant, Anne Morris
Track: Audit Fundamentals
Knowledge Level: Basic
Field of Study: Auditing, Accounting
CPE Credits: 1.5

This session will cover audit completion and financial reporting for a defined contribution plan, focusing on the fundamental track case study, including required communications to management and those charged with governance.

Learning Objectives:

  • Identify presentation requirements for defined contribution plans
  • Recognize financial statement and excerpts of communications to management and those charged with governance relevant to the fundamentals track case study
  • Recall procedures necessary related to a plan’s Form 5500, compliance/discrimination testing, and supplementary schedules
  • Distinguish between the required communications of the plan auditor to management and those charged with plan governance

08

Wednesday
11:10AM-12:25PM

EBP1969. Asking for a Friend

Instructor: Gwen Stoute Bryant, Travis Jack, Anne Morris, Sara Wilson
Track: Audit Fundamentals
Knowledge Level: Basic
Field of Study: Auditing, Accounting
CPE Credits: 1.5

There will be a tremendous amount of information covered in the fundamental track sessions, and we are sure there will be questions that may not get answered during the sessions, or topics that just a need a little bit more explanation. This is your chance to ask about any of the topics covered in the fundamental track sessions – by a panel of the instructors that led these sessions. Come prepared with all of your, or “your friend’s”, questions for our case study leaders.

Learning Objectives:

  • Recall answers to outstanding questions in areas of an EBP audit
  • Indicate your clarification or dig deeper on items discussed during the Fundamental Track sessions