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EBP1940. Effective Audit Planning: Best Practices for Plan Sponsor and Auditors
Accounting & Auditing
Field of Study:
Tuesday, May 7, 2019
Provide best practices regarding the planning and management of benefit plans audit engagements, from a Plan Sponsor perspective.
Understand the importance of strong planning and preparation for a successful "smooth" audit
An open honest plans sponsor/auditor communication is key to enable trust on both sides
Help the Auditor understand your plans. It will help/facilitate the auditors work and reduce recycle and unnecessary efforts. 4- The Audit is not only a legal requirement. It's a plan sponsor extraordinary external review that helps ensure regulatory compliance.
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