DOL Audit Quality

J Responding to the Department of Labor Letter

By Allison Henry, CPA | Nov. 20, 2015
Your employee benefit plan clients may have received a letter from the Department of Labor (DOL), similar to this one, regarding the importance of hiring a qualified CPA. Your immediate reaction may be shock or anger. However, it’s important to keep in mind that plan administrators are on the hook for a deficient filing. Read the full story.

J Reversing the Deficiency Rate Found in DOL’s Audit Quality Study

By Allison Henry, CPA | June 2, 2015
The U.S. Department of Labor’s Employee Benefits Security Administration released its 2014 Audit Quality Study on May 28, 2015. The study, which looks at 400 employee benefit plan audits, reveals a 39 percent deficiency rate, higher than previous DOL quality studies. The AICPA and the PICPA have developed programs to reverse this trend. Read the full story.

J Keep Your Eyes Open for Fraud when Auditing Employee Benefit Plans

CPA Now - by Richard F. Fischer, CPA, CPMG | Sept. 9, 2015
The EBSA restored roughly $423 million in embezzled assets back to employee plans in 2014. Don't let your firm fall victim. Read the full story.

J AICPA Proposes Six-Point Plan to Improve Audit Performance

AICPA | May 14, 2015
The AICPA is focusing its efforts on financial statement audits for private companies, employee benefit plans, and governmental entities. Read full story.

J Peer Review: A Pillar of Protecting the Public Interest

Pennsylvania CPA Journal - by Allison M. Henry, CPA | Sept. 1, 2015
Significant challenges are confronting AICPA’s peer review program that raise questions regarding the profession’s ability to continue its self-regulation. Read the full story.

On-Demand CPE to Improve Quality and Practice Monitoring
DOL Audit Quality and Peer Review Practice Issues
Final Rule: Overtime

The DOL explains the updated overtime regulations.

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New Overtime Rule: A Blow to Business, A Blow to CPAs

Mike Colgan, PICPA CEO & executive director, contends that expanding the pool of overtime-eligible employees will force firms and companies to resort to cost-saving measures to maintain current payroll levels.

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