The Employee Benefit Plan Audit Conference equips CPAs who audit Employee Benefit Plans (EBPs) with guidance on planning and performing more efficient and effective audits that comply with the AICPA Audit and Accounting Guide and Department of Labor reporting requirements.
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Speaker: Marcus Aron, CPA, CGMA, Chief, Division of Accounting Services, Office of the Chief Accountant, EBSA, U.S. Department of Labor
Get the latest update from the Department of Labor's activities, policies, and initiatives.
Speaker: Phil Mills, CPA, Assurance Senior Manager, Aprio, LLC
The AICPA has issued SAS No. 145, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement. Risk assessment has been identified as an area of focus by the Enhancing Audit Quality Initiative of the AICPA. This SAS clarifies risk assessment in hopes of improving audit quality. SAS No. 145 is effective for audits of financial statements for periods ending on or after December 15, 2023.
Speakers: Jennifer Amato, CPA, Director, SC&H Group, and Tiana Wynn, CPA, MBA, Partner, SB & Company, LLC
This session will introduce attendees to the AICPA’s new Quality Management Standards. Under the standards, new and improved systems of quality management are required to be designed and implemented by December 15, 2025, with an evaluation of the system of quality management required to be performed within one year following December 15, 2025. These standards will require changes and enhancements to firms’ existing quality control documents, policies, and procedures. The new standards focus on a risk-based approach to quality management within a firm. While 2025 may seem like the distant future, given the extensive changes set forth by these new standards, firms must begin to plan for and discuss these changes now to ensure compliance by 2025.
Speakers: Adam Meehan, LL.M., Partner, Smith Downey, Jason Eddy, CPA, Managing Director, National Practice Leader - Employee Benefits Plan Practice, Grant Thornton and Ronald Ulrich VP Product Consulting and Compliance, ADP Retirement Services
This presentation will cover the tax side, as well as the implications of the audit.
Panelists: Andrew Prevost, Senior Vice President, NFP Retirement, Linh Lu Le, Senior Business Project Lead, Principal Financial Group, and Leslie Spears, Fidelity Investment
Moderator Jennifer Downs, CPA, President, Benefit Audit Group
Working collaboratively among plan sponsors, service providers, and auditors is crucial for the effective management and auditing of retirement plans.
Objectives of this session: