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 presented:
An overview of the requirements of SAS No. 145 and how the requirements have changed.
Specific examples of types of risks specific to employee benefit plan audits and strategies for identifying them.