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Informationen zum Autor The American Institute of CPAs (AICPA) is the world's largest member association representing the CPA profession, with more than 429,000 members in the United States and worldwide, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education, and consulting. The AICPA sets ethical standards for its members and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA examination, offers specialized credentials, builds the pipeline of future talent and drives professional competency development to advance the vitality, relevance and quality of the procession. Klappentext Master the fundamentals of auditing employee benefit plans in accordance with AICPA standards and ERISA rules and regulations. Written by a member on the expert panel for employee benefit plans, this book is designed to give an understanding of the requirements and audit procedures related to defined contribution, defined benefit, and health and welfare plans to help accountants more effectively plan and carry out their audit. Topics include:* FASB ASU 2017-06, which significantly impacted master trust accounting, reporting and disclosures for employee benefit plans* PCAOB adopted AS 3101 in 2017 which resulted in significant changes to the existing auditor's report.* New insert for SAS No. 136, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA Zusammenfassung Master the fundamentals of auditing employee benefit plans in accordance with AICPA standards and ERISA rules and regulations. Written by a member on the expert panel for employee benefit plans, this book is designed to give an understanding of the requirements and audit procedures related to defined contribution, defined benefit, and health and welfare plans to help accountants more effectively plan and carry out their audit. Topics include:* FASB ASU 2017-06, which significantly impacted master trust accounting, reporting and disclosures for employee benefit plans* PCAOB adopted AS 3101 in 2017 which resulted in significant changes to the existing auditor's report.* New insert for SAS No. 136, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA Inhaltsverzeichnis Chapter 1 1-1Employee Benefit Basics 1-1Plan as defined by ERISA 1-3Plans as defined by GAAP 1-5Popular plan types 1-7Tax compliance elements 1-16Key plan operational concepts 1-23Understanding the plan under audit 1-27Chapter 2 2-1Accounting and Reporting Standards 2-1Applicable guidance 2-3Fair value measurements 2-5Financial statements 2-9Investment valuation and income recognition 2-11Accounting and reporting for investment contracts 2-13Accounting and reporting for contributions 2-15Notes receivable from participants (participant loans) 2-17Operating assets 2-18Accrued liabilities 2-19Accounting for uncertainty in income taxes 2-20Plan mergers 2-22Terminating plans 2-23Subsequent events 2-25Recent developments 2-26Chapter 3 3-1Reporting and Audit Requirements 3-1Audit requirement 3-3Regulatory reporting and disclosure requirements for pension and welfare plans 3-10Deadlines and extensions 3-11The audit guide 3-13ERISA versus GAAP 3-14Audit considerations 3-16Common audit concerns or deficiencies 3-21Using the work of internal auditors 3-29Recent developments 3-30Chapter 4 4-1Audit Planning 4-1Key parties 4-3Client acceptance 4-4Scope and timing 4-7Gaining an understanding of a plan, its environment, and its internal controls 4-10Risk assessment 4-17Audit documentation 4-23Analytical procedures 4-25Initial audit procedures 4-27Chapter 5 5-1401(k) and Other Defined Contribution Pensi...
