Course ID: CL4NAAB

Auditing Financial Statements of ERISA Plans

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 are required to have proper skills to perform EBP engagements effectively. In this course, you will focus on auditing the statement of net assets available for benefits and the statement of changes in net assets available for benefits. 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. Tap into ways to plan and conduct effective risk-based plan audits to comply with professional standards while maximizing efficiency.

Learning Objectives

• Recognize the line items of the statement of net assets available for benefits.
• Indicate the activity reflected in the statement of changes in net assets available for benefits.
• Identify presentation and disclosure requirements for plan investments and other assets.
• Distinguish applicable auditing standards based upon implementation of SAS Nos. 134–140.
• Understand plan investments, as well as management and auditor responsibilities.
• Recognize audit procedures commonly required in a 401(k) plan audit.

Major Topics

• Auditing the statement of net assets available for benefits
• Types and classification of common plan investments
• Plan investment audit objectives and audit procedures based upon type of audit and risk assessment
• Auditing the statement of changes in net assets available for benefits
• Audit procedures required for investment income, investment expenses, contributions, and benefit payments or withdrawals
• Presentation and disclosure requirements in accordance with GAAP
• Implementation of SAS Nos. 134–140

Advanced Preparations


Who Should Attend

Auditors of EBPs, practitioners considering the addition of EBP audits as a service offering, and accountants in business and industry responsible for company benefits

Fields of Study




CPE Credits


This course is available for your group as:


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