401(k) Audit Basics, Part 3 - Distribution Testing, Investments and Audit Wrap-up
- Distribution testing, investments and audit wrap-up (bold) Employee benefit plan audits are quite different from corporate audits and require an understanding of the unique audit areas specific to plans. Part 3 of the 401(k) audit basics series addresses distribution testing, investments and audit wrap-up, including:
- The various types of plan distributions and benefit payments
- Types of plan investments and the related disclosures
- ERISA Section 103(a)(3)(C) and non-Section 103(a)(3)(C) audits and the common issues and errors typically seen in these areas
- Wrapping up the audit
- Common issues and errors seen in these areas
Learning Objectives
- Identify various types of plan investments.
- Distinguish required investment disclosures.
- Recall unique aspects of ERISA Section 103(a)(3)(C) and non-Section 103(a)(3)(C) audits and the common issues and errors typically seen in these areas.
- Identify the various types of plan distributions and benefit payments.
- Recognize issues to consider in wrapping up the audit.
Major Topics
- Plan distributions and benefit payments
- Investments and related disclosures
- ERISA Section 103(a)(3)(C) audits
- Audit wrap-up
