Safeguarding the integrity of employee benefit plans and preventing fraud is a critical responsibility for auditors. Tools and resources designed to enhance your knowledge and preparedness when auditing employee benefit plans are available. Employee benefit plan fraud prevention is about protecting the interests and contributions of hardworking individuals. Access an Employee Benefit Plan Audit Quality Center tool outlining risks and offering auditors insights to prevent fraudulent activities effectively, and explore U.S. Department of Labor (DOL) auditor resources like Criminal Enforcement Cases and “10 Warning Signs That Your 401(k) Contributions Are Being Misused.”
The Center has compiled tools and resources to assist members in their consideration of fraud in their employee benefit plan audits.
DOL Criminal Enforcement Cases – October 2014 through November 2018 The AICPA Employee Benefit Plan Audit Quality Center has prepared a summary of DOL criminal enforcement cases of ERISA plans to assist auditors in their consideration of fraud in employee benefit plan financial statement audits.
Fraud Risk Factors in Employee Benefit Plans The AICPA Employee Benefit Plan Audit Quality Center has prepared a tool summarizing fraud risk factors for employee benefit plans.
Ten Warnings Signs That Your 401(k) Contributions Are Being Misused A DOL anti-fraud campaign uncovered a small fraction of employers who abused employee contributions by either using the money for corporate purposes or holding on to the money too long. The DOL published 10 warning signs that 401(k) contributions are being misused.