Audit & Assurance

Knowledge is Power: Checking Your Service Providers’ Data Security System

August 26, 2015

Maintaining data security is a significant part of running any business. Breaches are inevitable — although not at every organization. Now is the time to ask your service providers about their data security system.

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Demystifying Plan Audits

Demystifying Plan Audits

June 16, 2015

IRS Releases Updated Guidance The IRS recently updated the guidance it offers to plan sponsors in an attempt to clarify its plan audit process. Although the guidance is fairly general, it should be useful for all plan administrators and sponsors to review. Let’s examine some common questions regarding plan audits. Who Gets Audited? The IRS…

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Hiring a Quality EBP Financial Statement Auditor

December 3, 2014

The AICPA Employee Benefit Plan Audit Quality Center (EBPAQC) has prepared the Plan Advisory, The Importance of Hiring a Quality Firm to Perform Your Employee Benefit Plan Audit, to assist plan sponsors, plan administrators, and trustee with an understanding of the importance of hiring a quality auditor to perform their employee benefit plan financial statement audit.…

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Understanding Auditor Communications

January 31, 2014

The AICPA Employee Benefit Plan Audit Quality Center has prepared this advisory to assist you as a plan sponsor, plan administrator, trustee, audit committee, employee benefit plan committee, administrative committee, or investment committee in better understanding the various communications that may be initiated by your plan auditor. This advisory discusses: An overview of auditor communications Auditor’s communication with those charged with…

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Employee Benefit Plans — Financial Statement Audits

January 31, 2014

An independent audit of the financial statements of an employee benefit plan are often required when your plan meets certain criteria. As a plan sponsor, administrator or trustee, understanding your requirements and the process involved is important to your fiduciary responsibilities. This guide describes the roles and responsibilities of individuals involved in: The plan’s financial…

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Valuing and Reporting Plan Investments

January 31, 2014

As a plan fiduciary, you are subject to certain responsibilities, and with these responsibilities come potential liability. Fiduciaries who do not follow the ERISA standards of conduct may be personally liable to restore any losses to the plan arising from inaccurate estimates of investment values. Investments are the most significant assets in a benefit plan.…

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