Accountants who specialize in tax and general accounting services are often asked by their clients to perform audits of employee benefit plans (EBP), such as 401(k) and health and welfare plans. But if you don’t routinely conduct EBP audits, you may not be aware of their unique characteristics, such as testing demographic data, hardship withdrawals and remitting employee contributions on a timely basis.
The Department of Labor (DOL) has found that firms that perform only a few EBP audits are more likely to conduct deficient audits. As a result, it has focused its attention on accountants who perform these audits, but do not specialize in them.
This page is brought to you by the New York State Society of CPAs and is a compilation of videos recorded at the 2015 Employee Benefits Conference. The videos are meant to serve as a resource to CPAs interested in learning more about auditing EBP plans to help reduce the number of deficient audits.
Videos are free for all to view. CPAs wishing to earn CPE for these videos can purchase them as Self Study courses through the myCPE catalog
. Use the purchase links below, complete your registration(s) then simply pass the self study course exam to earn CPE. Contact customer service with any questions at 800-537-3635.