Audits of 401(k) Plans

Tap into ways to plan and conduct 401(k) audits more efficiently and effectively! Because 401(k) plans make a popular option for employee benefit plans, auditors of employee benefit plans must have the proper skills to audit these plans. In this dynamic CPE course, you will work through how to audit a 401(k) plan and prepare financial statements that satisfy Employee Retirement Income Sercurity Act (ERISA) and SEC requirements.

This updated course explains the differences between 401(k) audits and other employee benefit plan audits and outlines FASB Accounting Standards Update (ASU) No. 2015-07 and FASB ASU No. 2015-12, which continue to be hot topics this year due to the impact on accounting, reporting, and disclosures for employee benefit plans.

Learning Objectives
This course will prepare you to do the following:

Recognize the requirements for 401(k) audits to distinguish between audits of other types of employee benefit plans and 401(k) plans.
Identify efficient and effective ways to plan and conduct 401(k) audits.
Recognize new developments affecting 401(k) audits.

Key Topics
Background of 401(k) audits
Audit planning and pre-engagement activities
Internal control considerations
Auditing the statement of net assets available for benefits
Auditing the statement of changes in net assets available for benefits
Other auditing considerations
The auditor's report
Financial statement disclosures
Supplemental schedules

Who Will Benefit?
Auditors of employee benefit plans
Accountants in business and industry who are reponsonsible for company benefits