"Documentation of the Consideration of Potential Prohibited Transactions in an EBP Financial Statement Audit," a non-authoritative EBPAQC tool, assists auditors in documenting their consideration of possible prohibited transactions in an employee benefit plan audit.
This tool includes a prohibited transactions decision tree to help auditors determine whether a transaction with a party in interest is considered a prohibited transaction and is structured into five sections:
Section I — Prohibited transactions with parties in interest
Section II — Consideration of possible