Sessions For May 6

8:00AM-8:15AM

06

Monday
8:15AM-9:30AM

EBP1901. Cybersecurity breaches: are you the cause?

Instructor: Johnny Lee
Track: General Session
Knowledge Level: Basic
Field of Study: Auditing, Information Technology
CPE Credits: 1.5

Session will discuss trends and best practices from the cybersecurity and information privacy arenas.

Learning Objectives:

  • Recall the latest trends affecting organizations and individuals (vis-à-vis cybersecurity and privacy)
  • Select the leading practices for dealing with these trends in your company or your client's company
  • Indicate what practitioners can do to safeguard their own organizational and personal data

9:30AM-9:40AM

06

Monday
9:40AM-10:30AM

EBP1902. Washington Regulatory Update with the DOL & IRS

Instructor: Catherine Jones, Jeanne Wilson
Track: General Session
Knowledge Level: Update
Field of Study: Auditing, Taxes
CPE Credits: 1.0

Hear an update from the DOL and IRS onsite in New Orleans!

Learning Objectives:

  • Identify the latest initiatives and priorities within the IRS
  • Use the latest regulatory and enforcement developments in planning the EBP engagement and discussing potential issues with plan sponsors.

10:30AM-11:00AM

06

Monday
11:00AM-12:15PM

EBP1903. New EBP Reporting Standard

Instructor: Josie Hammond, Linda Delahanty, Tracy Harding
Track: Accounting & Auditing
Knowledge Level: Intermediate
Field of Study: Auditing
CPE Credits: 1.5

The new EBP reporting framework addresses the auditor's responsibilities for forming an opinion and reporting on ERISA plan financial statements, including the form and content of the report when management elects to have an ERISA section 103(a)(3)(C) audit performed.

Learning Objectives:

  • Analyze the requirements of the new EBP reporting framework
  • Differentiate the new form and content of the EBP reports compared to the current standard
  • Determine when it is appropriate to use the ERISA section in the audit report

06

Monday
11:00AM-12:15PM

EBP1904. Fringe Benefits Post Tax Reform

Instructor: Jeff Martin, Deborah Walker
Track: Plan Design & Tax Compliance
Knowledge Level: Intermediate
Field of Study: Taxes
CPE Credits: 1.5

This session will review the current rules and regulations regarding fringe benefits, including the ability of an employee to exclude the value of such benefits from income and the ability of an employer to deduct the cost of those benefits. Special emphasis will be placed on the Tax Cut and Jobs Act changes affecting fringe benefits, specifically meals and entertainment expenses, qualified transportation fringe benefits and moving expenses.

Learning Objectives:

  • Identify the fringe benefits that are best for your client based on the tax treatment of such benefits for the employer and the employee
  • Apply current rules and regulations to your clients in order to assist in designing a cost efficient fringe benefit plan

12:15PM-1:15PM

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
1:15PM-2:30PM

EBP1906. Work The Core, Don't Fail in Assessing Risk (Repeated in Session 62)

Instructor: Carl Mayes, Diane Walker, Michele Weldon
Track: Accounting & Auditing
Knowledge Level: Advanced
Field of Study: Auditing
CPE Credits: 1.5

Partners, are you starting your audit off properly? Most practitioners answer, "yes." However, more than a decade after the risk assessment standards were issued, the AICPA Peer Review team found that more than half of all firms fail to comply with AU-C Section 315 or 330.

At the core of every audit are the goals of identifying, assessing, and responding to risks of material misstatement. Ensure your EBP audits comply with risk assessment standards. The discussion will include misconceptions commonly held by senior-level practitioners and how to avoid these common areas of non-compliance.

Learning Objectives:

  • Interpret commonly misapplied requirements of AU-C Sections 315 and 330.
  • Contrast common areas of non-compliance found by AICPA Peer Review team research to your EBP audit performance.
  • Assess practical application of the standards in EBP audits.

06

Monday
1:15PM-2:30PM

EBP1907. 401(k) Testing and Alternatives

Instructor: Cindy Dwyer, Kimberly Flett
Track: Plan Design & Tax Compliance
Knowledge Level: Intermediate
Field of Study: Taxes
CPE Credits: 1.5

An in-depth look at 401(k) plan testing and alternatives including APD/ACP testing from a tax perspective. These compliance tests are complicated and this session can assist auditors in become more adept in the area related to non-discrimination testing.

Learning Objectives:

  • Apply proper use of ADP/ACP testing based on its purpose.
  • Identify issues involved with testing failures and corrections.

06

Monday
1:15PM-2:30PM

EBP1909. Not the Usual: Unique and Uncommon Issues within EPCRS Correction Programs

Instructor: Thomas Pevarnik, Mark Ritter
Track: Advanced Professionals
Knowledge Level: Advanced
Field of Study: Taxes
CPE Credits: 1.5

This session will cover uncommon, highly technical correction techniques and requirements under the IRS' EPCRS.

Learning Objectives:

  • Formulate correction methods where no pre-existing examples are provided
  • Evaluate less-common issues and problems that may arise when doing qualified plan corrections

06

Monday
1:15PM-2:30PM

EBP1910. Understanding Management's Responsibilities for Your Plan

Instructor: Santiago Bianchi, Bonnie Marcantel, Chris Shankle
Track: Enhanced Knowledge
Knowledge Level: Intermediate
Field of Study: Business Management & Organization
CPE Credits: 1.5

The panel will provide an overview of benefit plans' management responsibilities, including, but not limited to: accomplishing all regulatory requirements under management scope and all necessary elements, activities, recommendations, and decisions that ensure those requirements are satisfied

Learning Objectives:

  • Identify management's main/key areas of focus regarding a benefit plan's scope of responsibilities.
  • Apply the panel's recommendations on areas of focus and responsibilities to your company.

06

Monday
1:15PM-2:30PM

EBP1911. Plan, Design, and Monitor Payroll Audits

Instructor: Eric Carroll, Stacy Meyer
Track: Accounting & Auditing
Knowledge Level: Basic
Field of Study: Auditing
CPE Credits: 1.5

This session will discuss best practices for designing and monitoring a payroll audit program including techniques for completing a payroll audit and using payroll audits as part of the multiemployer plan audit. This session will also differentiate between payroll audits performed under SSAE 18 or consulting standards.

Learning Objectives:

  • Recognize best practices when designing and monitoring a payroll audit program and the use of payroll audits in the multiemployer plan audit.
  • Identify the difference between payroll audits performed under SSAE 18 and consulting standards.

2:30PM-2:40PM

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
2:40PM-3:55PM

EBP1913. Using an Actuarial Report in Your Audit

Instructor: Dennis Polisner, Diane Walker
Track: Accounting & Auditing
Knowledge Level: Intermediate
Field of Study: Auditing
CPE Credits: 1.5

This session will cover the objectives and uses of an actuarial report, the information contained in a report, assessing the actuarial methods and assumptions and discussing the information in the report that is most useful to an auditor.

Learning Objectives:

  • Determine what information is relevant for auditing purposes
  • Analyze the structure of a typical report
  • Apply the assumptions used and how to assess them
  • Select an actuary as a specialist based the qualifications

06

Monday
2:40PM-3:55PM

EBP1914. On Auto-Pilot: Automatic Provisions Don't Always Always Equal Smooth Sailing

Instructor: Amisha Patel, Mark Swedeslon
Track: Plan Design & Tax Compliance
Knowledge Level: Basic
Field of Study: Taxes
CPE Credits: 1.5

This session will cover what are all the automatic options in plans to today (enrollments, distributions, investing, salary increases, etc), corrections for when someone is not auto-enrolled timely, and Rev Proc 2015-28.

Learning Objectives:

  • Obtain a basic understanding of common automatic provisions within the plan document - such as enrollments, escalation, and distributions.
  • Understand challenges and most common errors related to automatic provisions

06

Monday
2:40PM-3:55PM

EBP1915. Fringe Benefit Trends

Instructor: Anne Bushman, Jeff Martin
Track: Industry Update
Knowledge Level: Basic
Field of Study: Taxes
CPE Credits: 1.5

Fringe benefits are a hot topic for employers looking to attract and retain talent in a tight labor market. Often, fringe benefits can be provided at relatively little cost while still providing benefit that employees value. Over time, changes in the business environment and employee demographics cause different fringe benefits to be perceived as valuable. This course will provide an overview of recent fringe benefit trends and the considerations for offering those benefits. Some benefits covered may include student loan payments, snacks, reward programs, and wellness programs.

Learning Objectives:

  • Recognize recent trends in fringe benefits
  • Recall tax consequences of trending fringe benefits
  • Identify important factors when choosing fringe benefits

06

Monday
2:40PM-3:55PM

EBP1916. Employee Benefits and Executive Compensation Issues in Mergers and Acquisitions

Instructor: Christa Bierma, Keith Mong
Track: Advanced Professionals
Knowledge Level: Advanced
Field of Study: Taxes
CPE Credits: 1.5

Session covers various employee benefit and executive compensation issues that arise in connection with mergers and acquisitions, including strategies for both buyers and sellers to address the issues.

Learning Objectives:

  • Predict health benefit plan issues in mergers and acquisitions
  • Assess and develop strategies for addressing the various issues that may arise.

06

Monday
2:40PM-3:55PM

EBP1917. Common Mistakes Identified in Inspections

Instructor: Marcus Aron, Jennifer Clayton, Michele Weldon
Track: Enhanced Knowledge
Knowledge Level: Basic
Field of Study: Auditing
CPE Credits: 1.5

Inform participants of the common mistakes that are identified in employee benefit plan audits during DOL inspections, ethics investigations, and peer reviews

06

Monday
2:40PM-3:55PM

EBP1918. Peer Review Part I

Instructor: Marilee Lau, Thomas Parry
Track: Accounting & Auditing
Knowledge Level: Advanced
Field of Study: Auditing
CPE Credits: 1.5

*Note for Peer Reviewers: You must attend both sessions to satisfy your annual EBP must-select training requirement.

This session will address new and recent changes to guidance related to peer reviews of employee benefit plan (EBP) audit engagements. For peer reviewers, attendance of both parts I and II will satisfy the annual peer review must-select training requirement to review EBP engagements.

This session is designed to be interactive with ample time for participants to discuss specific issues related to conducting reviews, using the EBP checklist, and resolutions of real-life EBP audit findings. This presentation is primarily designed for peer reviewers; however these sessions will help subject matter experts gain a better understanding of the peer review process and the benefits of serving as a team member in peer reviews.

Presenters will provide:
• Updates about recent or upcoming changes to peer review guidance related to EBP audit engagements
• Insight from DOL quality reviews
• Updates on the Enhanced Oversight Program and common issues identified
• Recent changes related to the Peer Review Employee Benefit Plan Audit Engagement Checklist, including considerations related to bolded questions.
• Both lecture-based content, as well as hands-on application of learning objectives using case studies.

Learning Objectives:

  • Interpret guidance for reviewers of EBP must-select engagements
  • Assess ramifications when answering bolded questions on the EBP checklist
  • Evaluate and anticipate DOL quality review findings

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

06

Monday
4:25PM-5:40PM

EBP1920. Sort Out the SOC Reports used in Your EBP Audits (Repeated in Session 57)

Instructor: Patricia McCormick, Sue Peirce
Track: Accounting & Auditing
Knowledge Level: Intermediate
Field of Study: Auditing
CPE Credits: 1.5

Each year, you hear about increasing the usage of SOC 1 reports in your EBP audits. Attend this session and leave knowing why it's imperative to use a SOC 1 report in your audit, if applicable. The session will cover key differences between SSAE 16 and SSAE 18. Content will also include subservice provider reports and noting subservice provider user controls, efficient ways to review and summarize a SOC 1 report, and what to do if you can't obtain a SOC 1 report but need one.

Learning Objectives:

  • Identify the appropriate audit approach regarding subservice organizations and complimentary user entity controls.
  • Analyze the impact of carve-outs, complementary user controls, exceptions in testing, and report qualifications.
  • Analyze the differences between SSAE 16 and SSAE 18.
  • Determine efficient ways to summarize and evaluate information in SOC 1 reports.

06

Monday
4:25PM-5:40PM

EBP1921. Is an ESOP Right for Your Company?

Instructor: Keandra Greene, Mark Welker
Track: Plan Design & Tax Compliance
Knowledge Level: Basic
Field of Study: Taxes
CPE Credits: 1.5

This session will discuss whether an ESOP is the best business succession planning tool for a company. We will provide an overview of an ESOP, why a company might or might not want one, and tax/economic/business perspectives of an ESOP. We will provide a case study to illustrate the analysis.

Learning Objectives:

  • Identify clients in which an ESOP as a business succession planning alternative is appropriate.
  • Recall aspects of an ESOP in order to propose to potential ESOP candidates.
  • Recognize potential advantages and disadvantages of ESOPs, including concerns related to risk, cost, and complexity.

06

Monday
4:25PM-5:40PM

EBP1922. Beyond Cybersecurity: Attack of the new wave of Privacy regulations

Instructor: Alain Marcuse
Track: Industry Update
Knowledge Level: Basic
Field of Study: Auditing, Information Technology
CPE Credits: 1.5

Emerging data privacy regulations globally constitute a “third wave” of corporate security and privacy risk that most companies don’t realize yet. Companies now have the obligation to protect the personal data of individuals they connect with in any way, including employees, prospects, vendors, and customers. While the GDPR certainly generated headlines, it is by no means unique any longer – California, Brazil, Vietnam, and others have passed similar legislation. A Federal law is on the horizon. Individuals have greatly expanded rights and are wielding them in earnest. In this session, we will cover the latest updates to the emerging trends in data privacy regulation, and their impact on plans and their auditors – exploring how to reconcile these new requirements while maintaining the integrity of our audits.

Learning Objectives:

  • Explain the impact of new privacy regulations on the handling of personal data during audits
  • Select appropriate techniques to meet audit standards while maintaining compliance with these regulations

06

Monday
4:25PM-5:40PM

EBP1923. Stable Value Investment Case Study

Instructor: Kristin Daniels, Debbie Smith
Track: Advanced Professionals
Knowledge Level: Advanced
Field of Study: Accounting
CPE Credits: 1.5

Walk through two case studies on financial reporting for stable value investments.

Learning Objectives:

  • Evaluate the structure of stable value investments, the various types of fully benefit responsive investment contracts utilized, and the investment vehicles commonly available to plans
  • Interpret real life examples, including simplified FASB reporting and 5500 reporting

06

Monday
4:25PM-5:40PM

EBP1924. Plan Sponsor Best Practices, Fees & Communications

Instructor: Wayne Kamenitz, Chris Shankle
Track: Industry Update
Knowledge Level: Intermediate
Field of Study: Business Management & Organization
CPE Credits: 1.5

Plan sponsors dealings with plan fees and communications vary widely; however, there are some very specific requirements. In our discussion, you will learn:

Learning Objectives:

  • How to deal with these two issues and take a dive into the issues associated with each.
  • Understand best practices in dealing with these issues along with some resources to consider in helping.

06

Monday
4:25PM-5:40PM

EBP1925. Peer Review Part II

Instructor: Marilee Lau, Thomas Parry, Marcus Aron
Track: Accounting & Auditing
Knowledge Level: Advanced
Field of Study: Auditing
CPE Credits: 1.5

*Note for Peer Reviewers: You must attend both sessions to satisfy your annual EBP must-select training requirement.

This session will address new and recent changes to guidance related to peer reviews of employee benefit plan (EBP) audit engagements. For peer reviewers, attendance of both parts I and II will satisfy the annual peer review must-select training requirement to review EBP engagements.

This session is designed to be interactive with ample time for participants to discuss specific issues related to conducting reviews, using the EBP checklist, and resolutions of real-life EBP audit findings. This presentation is primarily designed for peer reviewers; however these sessions will help subject matter experts gain a better understanding of the peer review process and the benefits of serving as a team member in peer reviews.

Presenters will provide:
• Updates about recent or upcoming changes to peer review guidance related to EBP audit engagements
• Insight from DOL quality reviews
• Updates on the Enhanced Oversight Program and common issues identified
• Recent changes related to the Peer Review Employee Benefit Plan Audit Engagement Checklist, including considerations related to bolded questions.
• Both lecture-based content, as well as hands-on application of learning objectives using case studies.

Learning Objectives:

  • Apply guidance for reviewers of EBP must-select engagements
  • Assess ramifications when answering bolded questions on the EBP checklist
  • Evaluate and anticipate DOL quality review findings

5:40PM-6:45PM