EBPAQC 401(k) Audit Basics series

Audit & Assurance

Webcast

EBPAQC 401(k) Audit Basics series

These webcasts are an excellent opportunity for staff or in-charge auditors who are new to ERISA audits to become familiar with defined contribution plans and how they work. It also includes information about EBP audit planning and risk assessment, and practical information about unique plan audit areas.

$349 - $419

Do you have an AICPA or CIMA membership? Log in to apply your member discount.

Format

Webcast

NASBA Field of Study

Accounting

Level

Basic

CPE Credits

Instructor

Marilee Lau, Monique Elliott, Travis Jack, David Torillo

Sessions

Availability

3 months

Product Number

EQC2704B

View

Business & partner

Product Details

An excellent program for staff or in-charge auditors who are new to ERISA audits, this webcast series provides an understanding of defined contribution plans and how they work. You will also get information about EBP audit planning and risk assessment, and practical information about unique plan audit areas.

This four-part webcast series, includes:

– Introduction and Planning Rebroadcast — In the first part of the series, the panel will discuss basic information about 401(k) plans including plan structure, standard plan documents, key plan officials and service providers, and the unique issues that need to be considered when planning these audits.

– Participant Data and Contribution Testing Rebroadcast — In this second part, the panel will discuss what participant data needs to be tested and why, the different ways a participant can enroll in a plan, the various types of contributions received by a 401(k) plan, parties in interest and prohibited transactions. Additionally, the panel will discuss the common issues and errors seen in these areas.

– Distribution Testing, Audit Wrap-Up and Notes to Financial Statements Rebroadcast — The third part will have the panel discuss various types of plan distributions and benefit payments, unique plan financial statement disclosures, and wrapping up the audit. The panel will also discuss the common issues and errors seen in these areas.

– Investments and Current Topics Live — In the fourth and final part, the panel will discuss various types of plan investments, investment disclosures, and limited scope and full scope audits and the common issues and errors typically seen in these areas. The panel will also discuss the current and hot issues for the 2021 audit season, along with an open session for questions and answers

Key Topics

Planning
Participant data and contribution testing
Distribution testing, audit wrap-up, and notes to financial statements
Investments and current topics

Learning Outcomes

Recall basic information about defined contribution retirement plans and how they work
Recognize unique plan audit areas and select appropriate audit procedures
Identify current and hot issues for the 2021 audit season

Who Will Benefit

Auditors new to employee benefit plans auditing
Staff new to ERISA audits

Employee Benefit Plans Audit Quality Center (EBPAQC) members save 20%:

Login here to obtain the discount code. Should you have any questions or encounter any issues, please contact the AICPA Service Center at 888-777-7077 or service@aicpa.org.

Upcoming Webcast Dates

Apr 21 - May 13 2027

EBPAQC 401(k) Basics: Part 1 - Introduction and Planning

Apr 21, 5pm – 7pm GMT

EBPAQC 401(k) Basics: Part 2 - Participant Data and Contribution Testing

Apr 29, 5pm – 7pm GMT

EBPAQC 401(k) Basics: Part 3 - Distribution Testing, Investments, and Audit Wrap-Up

May 06, 5pm – 7pm GMT

EBPAQC 401(k) Basics: Part 4 – Notes to Financial Statements and Current Topics

May 13, 5pm – 7pm GMT

Credit Info

CPE Credits

NASBA Field of Study

Accounting, Auditing

Level

Basic

Prerequisites

None

Access

This is a digital product. With full paid access the content will be available to you for 3 months after purchase date.

Duration

8 hrs

For more information, please refer to CPE requirements and NASBA sponsorship information

Pricing

Do you have an AICPA or CIMA membership? Log in to apply your member discount.

Nonmembers

$419.00

AICPA Members

$349.00

CIMA Members

$349.00

Group ordering for your team

2 to 5 registrants

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Start order

6+ registrants

We can help with group discounts. Email client.support@aicpa-cima.com
US customers call 1-800-634-6780 (option 1)

Speakers

Marilee Lau

Marilee Lau provides consulting services to firms specializing in employee benefit plans. She frequently presents at conferences and teaches educational programs on accounting and auditing for employee benefit plans. In 2020, Lau became the consulting CPA on staff for the Colorado Society of CPAs, overseeing the AICPA Peer Review Program for Colorado, New Mexico and Washington. Before retiring in 2009, she was the national partner in charge of KPMG’s employee benefit plan audit practice. She is a founding member and a former chair of the AICPA Employee Benefit Plan Audit Quality Center’s Executive Committee. Lau has served the AICPA in many roles; currently, she is a subject matter expert performing peer review oversights of EBP plans and a technical advisor for the AICPA-CPEA for ESOPs and served on the task force that is wrote the multiemployer chapter for the AICPA Audit and Accounting Guide. She has also served on the Accountants Committee for the International Foundation of Employee Benefit Plans. Lau is a member of the AICPA, California Society of CPAs, Colorado Society of CPAs, and the International Foundation. She is a graduate of Santa Clara University with a B.S. degree in economics and an M.B.A. in accounting.

Monique Elliott

CPA

In March 2012 Monique founded Elliott Group CPAs, PLLC after a fifteen year career with international accounting firms. Monique had a dual role of running an EBP practice while also serving as a national technical resource to other benefit plan teams within her firm and alliance firms. She was involved with the development and updates to her prior firm's internal guidance, manual, and forms/programs. She served as an inspector for internal inspection, and conducted training. Her experience includes a wide range of types/sizes of plans. She currently serves her clients in a practice that is focused on ERISA audits, Form 5500 preparation, and consulting on ERISA plan matters. She is a frequent speaker both nationally and locally on an array of benefit plan topics. Monique earned a BA in accounting from the University of Maryland, and is a member of the American Institute of Certified Public Accountants and the North Carolina Association of Certified Public Accountants (NCACPA). She currently is serving as Chair of the Employee Benefit Plan Committee for the NCACPA, and is a past-President of the Charlotte Benefits Forum. Monique served a three year term with the AICPA Employee Benefit Plan Expert Panel from 2013-2016. She performs oversight reviews of the peer reviewers for the AICPA. She also is a member of the taskforces that updated the AICPA 2015 and 2016 Employee Benefit Plan Audit Guide and the AICPA Employee Benefit Plan Audit Risk Alert.

Travis Jack

Travis P. Jack is the Managing Member of Metz & Associates, PLLC. As the managing member primary responsibilities include key aspects of practice management, oversight of staff training & development programs, and the acting lead partner for the firm’s attest practice. He also provides the technical review of all audit engagements and coordinates firm business development activities and outreach initiatives. The attest practice at Metz & Associates PLLC consists primarily of compliance based audits, with a concentration in ERISA retirement plan, mortgage lender and nonprofit clients. The firm is both an AICPA Employee Benefit Plan Audit Quality Center and Governmental Audit Quality Center member. Travis serves on the AICPA Employee Benefit Plan Conference Planning Committee. As a member of the AICPA Employee Benefit Plan Conference Planning Committee he has had the honor of helping plan and present at the 2016 Conference in Las Vegas and the upcoming 2017 Conference in Nashville. Travis was also recently appointed to the AICPA Employee Benefit Plan Audit Quality Center executive committee. With the significant concentration of employee benefit audits and the complex and often changing regulatory environment surrounding them, education in this area has been a key career focus. Education initiatives include active membership in the American Society of Pension Professionals & Actuaries and the firm designated engagement partner for AICPA’s Employee Benefit Plan Audit Quality Center membership. The firm also maintains membership with the National Institute of Pension Administrators and Western Pension & Benefits Council. Additionally Travis receives updates on employee benefit plan regulatory trends from ASPPA, NIPA, IRS and EBPAQC. He has presented on a variety of qualified plan topics primarily as they relate to employee benefit plan attestation services.

David Torillo

David A. Torrillo is the managing member of Torrillo & Associates, LLC, and oversees the accounting, auditing, and valuation services for the firm. Formerly a senior manager at PricewaterhouseCoopers LLP, Dave has over thirty years of accounting, auditing, SEC and financial reporting experience, primarily in employee benefit plans. Dave also volunteers on several committees, boards and associations. He has instructed courses and authored papers on several accounting topics and also performs quality control reviews. Dave has served on the Pennsylvania Institute of Certified Public Accountants Employee Benefit Plan Committee since its inception in 2007 and has co-presented the Technical Update at the PICPA Employee Benefit Plan Conference numerous times. Dave has been a presenter for numerous topics for AICPA Employee Benefit Plans Conferences as well as for webinars of the AICPA EBPAQC. Dave has served as a member of AICPA Employee Benefit Plans Expert Panel and is currently serving on the AICPA Practice Monitoring Task Force for Employee Benefit Plans and as a member of the AICPA EBPAQC Executive Committee and PICPA Professional Ethics Committee. Dave received his Bachelor of Science degree in Accounting with highest distinction and honors from Pennsylvania State University. He has been a Certified Public Accountant since 1994 and is licensed in Pennsylvania, New Jersey, Delaware and New York. Dave has been a Certified Valuation Analyst (CVA) since 2004 and was awarded the Accredited in Business Valuation (ABV) credential by the AICPA in 2006. He is a member of both the American and Pennsylvania Institutes of Certified Public Accountants, as well as the National Association of Certified Valuators and Analysts. In 2016, Dave received the Advanced Defined Benefit Plans and the Advanced Defined Contribution Plans Audit Certificates from the AICPA.

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EBPAQC 401(k) Audit Basics series

Key Topics

Learning Outcomes

Who Will Benefit

Employee Benefit Plans Audit Quality Center (EBPAQC) members save 20%:

Ratings and reviews

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