- NY Credits : 8.0
- TX Credits : 8.0
This interactive self-study course takes a look at two subjects that affect audits of employee benefit plans. Lesson 1 examines the accounting and financial reporting standards that are applicable to all employee benefit plans, as well as those that are unique to defined contribution retirement plans, defined benefit retirement plans, and health and welfare plans. Lesson 2 discusses special auditing considerations that apply in employee benefit plan audits, including how to deal with investments, participant data, and benefit payments and obligations.
Course Expiration Date: May 31, 2021
Please note, the grading fee for answer sheets submitted by regular mail is $109.
Identify the financial reporting entity for an employee benefit plan and the accounting and financial reporting standards that apply to all types of plans.
Determine which accounting and financial reporting standards apply specifically to defined contribution retirement plans, defined benefit retirement plans, or health and welfare benefit plans.
Recognize what special auditing considerations apply to an employee benefit plan’s contributions received and receivable and its investments.
Determine how an employee benefit plan’s insurance company contracts and participant data should be addressed during an audit.
Identify what special auditing considerations apply when an employee benefit plan has benefit payments and obligations.
Determine how to address other assets, liabilities, and operating expenses, as well as other audit considerations (such as analytical procedures) in an employee benefit plan audit.
Lesson 1—Accounting and Financial Reporting Standards for Employee Benefit Plans
Lesson 2—Special Auditing Considerations