Employee Benefit Plans, 2019
AICPA Audit and Accounting Guide
1. Edition July 2019
928 Pages, Softcover
Wiley & Sons Ltd
This guide is an ideal roadmap to compliance, giving auditors authoritative guidance, practical tips, and illustrative examples to help them at each stage of the audit. It is designed to bridge the gaps between the what, why, and how to satisfy auditor responsibilities.
Key topics covered include:
* Essential guidance for application of GAAS in an EBP audit.
* References to authoritative accounting guidance for defined contribution (DC), defined benefit (DB) and health and welfare (HW) plans in FASB ASC
* Guidance on accounting, reporting and disclosure for EBP transactions not addressed in FASB ASC as supported by FinREC
* Use of a SOC 1 report
* Use of a specialist (including actuaries and appraisers)
* Forming an opinion and reporting on EBP financial statements (for full and limited scope EBP audits)
* Illustrative auditor communications and financial statements
* Explanation of pervasive regulatory requirements (DOL rules and regulations)
The AICPA's founding established accountancy as a profession distinguished by rigorous educational requirements, high professional standards, a strict code of professional ethics, a licensing status and a commitment to serving the public interest.