Audits of Employee Benefit Plans Subject to ERISA

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  • Date/Time
    • Jun 23, 2021
    • Sign In: 7:45am (MT)
    • Program: 8:00am - 3:30pm (MT)
    • Add to Calendar
  • Location
    • Your Computer
      Your Space
      ISCPA Webinar, ID 00000
  • Credits
    • 8.00
  • Credit Type(s)
    • Accounting (2.00)
    • Auditing (6.00)
  • Prerequisites
      • None
  • Vendor
    • *** ISCPA ***
  • Level
    • Beginning
  • Fields of Study
    • Accounting & Auditing
    • Accounting
    • Auditing
  • Message
    • Webinar - Viewing From Computer

Description

NEW SEMINAR

Employee benefit plan (EBP) audit engagements continue to be scrutinized by regulators and peer reviewers due to a history of noncompliance with applicable professional standards. Auditors require proper skills to perform EBP engagements effectively. You will work through the plan audit process from client acceptance/continuance through engagement archive. As the most common type of plans audited, you will take a deep dive into defined contribution plans to comply with professional standards, ERISA and SEC requirements. You will also obtain an awareness of additional considerations when auditing defined benefit pension plans and health and welfare benefit plans. Tap into ways to plan and conduct effective risk-based plan audits to comply with professional standards while maximizing efficiency.

Designed For

  • Auditors of employee benefit plans, practitioners considering the addition of EBP audits as a service offering
  • Accountants in business and industry, responsible for company benefits

Objectives

  • Recognize the auditing requirements for EBP audits to comply with applicable professional standards and regulator expectations.
  • Identify accounting requirements unique to employee benefit plans.
  • Identify efficient ways to plan and conduct an effective risk-based EBP audit.
  • Recognize new auditing, accounting and regulatory developments impacting EBP audits.
  • Highlights

  • Background of ERISA plan audits
  • GAAP vs. ERISA reporting requirements
  • Audit planning and pre-engagement activities
  • Risk assessment, including consideration of internal control
  • Auditing the statement of net assets available for benefits
  • Auditing the statement of changes in net assets available for benefits
  • Other auditing considerations, including prohibited transactions and tax compliance
  • The auditor’s report
  • Financial statement disclosures
  • Supplemental schedules
  • Advanced Prep

    • Download PDF manual - view your upcoming events in "My CPE" on website
    • Test your computer/device for compatibility with virtual meeting space well in advance of your webinar

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    Leaders

    Randy Dummer

    Randy Dummer

    Randy Dummer joined HHM in 2011 as a quality control partner in the Accounting and Assurance Department. He leads the firm in many initiatives including the peer review practice and employee benefit plan audit niche, in addition to providing technical reviews for clients in multiple industries such as auto dealerships, nonprofits, construction and manufacturing.

    He is a nationally recognized employee benefit plan audit specialist and leads discussions for the American Institute of CPAs (AICPA) in this area. His skills as a discussion leader have deemed him an eight-time winner of the AICPA Outstanding Discussion Leader Award. His teaching pursuits include instructing the Audits of 401(k) plans webcast since 2014 and teaching various employee benefit plan audit courses since 2006.

    As the review captain for approximately 20 peer reviews each year, he helps other CPA firms raise the bar of quality for accounting, auditing, and attestation services. He has been on the peer review committee of the Tennessee Society of Certified Public Accountants (TSCPA) for five years. In addition, he is an approved Employee Retirement Income Security Act (ERISA) audit specialist for the AICPA enhanced oversight project.

    Prior to his time at HHM, Randy spent 24 years (including seven years as a Partner) with Baker Tilly Virchow Krause, LLP (Baker Tilly), a regional CPA firm based in Wisconsin. He served as the firm-wide leader of their employee benefit plan audit practice, encompassing approximately 700 engagements over eight offices. He also served as the engagement partner for audits of nonprofit organizations, automotive dealerships and other commercial and retail businesses.

    EDUCATION • University of Wisconsin at La Crosse, Bachelor of Science, • Accountancy – Graduated with Highest Honors

    PROFESSIONAL & OUTSIDE AFFILIATIONS • American Institute of Certified Public Accountants (AICPA) • Tennessee Society of Certified Public Accountants (TSCPA) • TSCPA Peer Review Committee • Habitat for Humanity of Greater Chattanooga, Treasurer • Chattanooga Chamber of Commerce Small Business Awards Committee • Central High School Band Boosters Board, 2014-2017 • Board Member for 2 Wisconsin nonprofit organizations, 2005–2011 • Leadership Fox Cities (Appleton, WI), Class of 2003–2004

    AWARDS • AICPA Outstanding Discussion Leader, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2016 (top 20 of 250 speakers)

    AREAS OF CONCENTRATION • Nonprofit & Governmental • Employee Benefit Plans • Accounting & Assurance • Peer Reviews

    SPECIALTIES • Employee Benefit Plans • Peer Reviews • Nonprofit • Retirement Plans

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