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Advanced Audits of 401(k) Plans: Best Practices and Current Developments

CPE

When
April 22
9:00 a.m. - 5:00 p.m.

CPE Credits
8-A&A

Details

 Pricing

PICPA Member: $239 | Nonmember: $339


 More Information

Course No.
AAFP-2019-01-WEBNR-112-01
Level
Advanced
Prerequisites
Detailed understanding of auditing defined contribution plans
Note
This webinar is hosted by PICPA's partner, Surgent CPE. After registering, you will receive an email from Surgent CPE with the log-in information.

Description

As we saw from the recent United States Department of Labor review of employee benefit plan audits, auditors need to raise their game in order to provide the quality audits that plan stakeholders demand. The AICPA has reacted by issuing a proposed SAS that will significantly impact how audits of these plans will be performed. Now is the time to get up to speed on these significant issues and changes occurring in the world of 401(k) plan audits. In this advanced course, we will discuss both the existing and new rules and regulations unique to employee benefit plans as well as provide practical guidance on their application. The most common compliance issues identified in 401(k) audits will be explored along with recommended corrections. Auditors will identify best practices for handling specific issues that arise during the course of the engagement related to payroll and compensation, participant loans, hardship distributions, investments, plan mergers/acquisitions, etc. Efficient audit techniques that can be utilized in various audit engagements will also be identified. This is the course to take to help you improve the quality of your 401(k) benefit plan audits.

Highlights

  • Identify the current year changes to the rules and regulations affecting 401(k) plans
  • Examine the most common compliance issues encountered in 401(k) plan audits, what to watch out for, and what can be done to ensure compliance
  • Perform efficient and effective procedures associated with planning, internal controls, risk assessment, and detailed audit
  • Explain the documentation and procedures related to plan mergers and acquisitions
  • Discuss best practices associated with advanced audit areas including participant loans, payroll, compensation, investments, etc.
  • Understand the risks associated with a benefit plan audit engagement


Speaker(s)

Melissa G. Critcher, CPA

Melissa is a member of both the American Institute of Certified Public Accountants (AICPA) and the North Carolina Association of Certified Public Accountants (NCACPA). She has served in various roles with the NCACPA including member of the Board of Directors, committee member for the Accounting and Attestation Committee, as well as local chapter positions.

Melissa’s background in accounting includes more than 15 years experience in public accounting specializing in auditing defined contribution and defined benefit employee benefit plans as well as manufacturing, distribution, and professional service organizations. Her public accounting experience includes a position as a senior audit manager with Greer & Walker, LLP in Charlotte, North Carolina, a manager at a regional firm in Raleigh, North Carolina prior to re-locating to Charlotte. Melissa also worked with a local firm in Winston-Salem. During her career, Melissa has been responsible for managing the employee benefit plan niche, marketing and business development, and conducting in-house training seminars. Since 2002 Melissa has led discussion seminars on the AICPA’s Audits of 401(k) Plans for the NCACPA. Additional seminars include Audit Documentation and Review, Employee Benefit Plan Audits, and Small Business Audits. Ms. Critcher received the AICPA Outstanding Instructor Award in 2011, 2012, and 2013.


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