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Applying SAS No. 145 in employee benefit plan audits, Part 1 rebroadcast
Audit & Assurance
Webcast

Applying SAS No. 145 in employee benefit plan audits, Part 1 rebroadcast

The new risk assessment standard — which may significantly affect how you perform risk assessment — is effective for 2023 plan audits. Learn how the new standard affects your EBP audits, including identifying risks.

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Format

Webcast

NASBA Field of Study

Auditing

Level

Intermediate

CPE Credits

2

Instructor

Debbie L. Smith, Erin Breit, Carl R. Mayes Jr., Brian Price, Emily Toler, Nicole Hilbert

Availability

3 months

Product Number

WC4455784

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 Business & partner 
Product Details

Outline of the new risk assessment standard

SAS No. 145 is effective for 2023 employee benefit plan audits performed in 2024. The new standard may require significant changes to the way your firm performs risk assessment.

Part 1 of the two-part series will:

  • Present an overview of the requirements of SAS No. 145 and how the requirements have changed.
  • Provide examples of risk types specific to the employee benefit plan audits and strategies for identifying them.
  • Provide participants an opportunity to ask questions of the experts.

Key Topics

  • How risk assessment requirements have changed
  • Identifying risks in an EBP audit
  • Q&As

Learning Objectives

  • Apply the provisions of SAS No. 145 in EBP audits.
  • Analyze potential risks in EBP audits.
  • Compare new risk assessment requirements with extant standards.

Who Will Benefit

Auditors of ERISA employee benefit plans

More Details
NASBA Field of Study
Auditing
Level
Intermediate
Prerequisites
Experience in auditing employee benefit plans
Access
This is a digital product. With full paid access the content will be available to you for 3 months after purchase date.
Duration
2 hrs
Pricing
Do you have an AICPA or CIMA membership? Log in to apply your member discount.

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6+ registrants

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Contact us
Speakers
Debbie L. Smith
CPA
Debbie is a partner in Grant Thornton LLP's national professional standards group, specializing in employee benefit plan assurance. She has over 35 years of experience in auditing benefit plans and has practiced exclusively in this area for almost 30 years. Debbie is the current chairman of the Executive Committee of the AICPA's Employee Benefit Plan Audit Quality Center and is a past chairman of the AICPA Employee Benefit Plans Expert Panel. She served a three-year term on the U.S. Department of Labor's ERISA Advisory Council and also served multiple years on the Technical Standards Subcommittee of the Professional Ethics Committee. Debbie represents Grant Thornton through her continued active involvement in various AICPA committees and task forces, and she is a frequent speaker at industry conferences on employee benefit plans. Debbie is a member of the AICPA, the Illinois Certified Public Accountants Society, and earned her B.B.A. in Accounting from Loyola University of Chicago.
Erin Breit
Erin Breit is a partner in BDO’s ERISA Services Practice and has been with BDO since 2020. Erin started in public accounting in 2004 and began devoting her full attention to the Employee Benefit Plan in 2006. She has worked extensively with defined contribution plan and defined benefit plans, including 5500 preparation and works closely with her clients to help them navigate through complexities such as a change in service provider, plan mergers, spin- offs and terminations. Erin is a member of the AICPA Employee Benefit Plan Expert Panel.
Carl R. Mayes Jr.
CPA
Carl Mayes is the AICPA’s Vice President – Audit and Accounting Quality. He oversees the AICPA’s Governmental Audit Quality Center, Employee Benefit Plan Audit Quality Center, Not-for-Profit Section and Enhancing Audit Quality initiative. He previously directed the CPA Evolution initiative, which transformed the path to CPA licensure, and served on the AICPA Peer Review team. Carl was named one of the top 40 accounting professionals under 40 by CPA Practice Advisor in 2022. He is a licensed CPA in North Carolina and a Certified Association Executive. Before joining the AICPA, he worked as an auditor for regional and local public accounting firms.
Brian Price
Brian founded PriceKubecka in 1995 and has over 25 years of experience serving the needs of closely-held businesses. He is in charge of all assurance related services for the firm including audits, reviews, and compilations. In addition to leading the firm’s 401(k) audit team, Brian challenged the firm to rethink how audits should be performed in the future, resulting in the development of the groundbreaking software, Autire.
Emily Toler
Partner and EBP Services Director 2017 – present; Senior Manager 2015 - 2017; Audit Manager 2009-2014 Lead firm’s employee benefit plan audit practice, comprised of approximately 25 associates – partners nationwide. Coordinate the initiation, progress and timely completion of approximately 70 benefit plan audits and related Form 5500 filings, with a focus on 403(b) and defined contribution plans. Ensure audit procedures align with risk assessment and meet DOL/IRS expectations. Research changes in accounting guidance and keep EBP practice abreast of issues. Serve as firm’s main technical resource for benefit plans. Present current employee benefit plan matters at annual client seminars. Communicate deficiencies (plan document errors, operational errors, etc), consequences and recommendations to clients and governing committees. Work with IT and firm leadership to improve processes and technology used in our business, leading to higher morale and cost savings. Member of internal quality control group.
Nicole Hilbert
I'm a partner with over 25 years of experience providing assistance related to transactions, carve out audits, internal audit, advisory and technical accounting advice, including assistance with the adoption of IFRS. I have extensive experience working with middle market, private and private equity held companies Specialties: pension accounting, auditing, SEC reporting, financial reporting, internal controls, and IFRS.
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