Audits of Defined Contribution Pension Plans (Emphasizing 401k Plans) (LIAA58)

Thursday, May 11, 2017 | 8:30 AM - 4:00 PM (Registration at 8:00 AM) EST |


Employee benefit plan audits have always presented unique challenges and practice risks. This basic to intermediate course will address these challenges and provide the skills to:

  • Avoid the most common deficiencies identified by the DOL
  • Identify unique employee benefit plan (EBP) audit risks
  • Perform the right level of service and proper level of audit testing
  • Identify and effectively document the required procedures
  • Prepare GAAP and DOL compliant financial statements


Participants will be able to:

  • Audit defined contribution plans in accordance with GAAS and DOL requirements
  • Identify audit risk areas for defined contribution plans
  • Develop and perform appropriate audit testing to address the assessed audit risks
  • Avoid mistakes and deficiencies in preparing GAAP and DOL compliant financial statements


Standard Registration: $334 SCACPA Members, $434 Non-Members
Firm Discount: ($15)
Reciprocal Discount: ($100)
Bundle and Save Discount: ($20)

Major Topics

Identifying when an audit is required. A review of current and pending accounting and auditing standards. Common audit and reporting deficiencies including those identified in the recent DOL Audit Quality Study. Unique audit planning characteristics in EBP audits. Difficult audit areas found in EBP engagements... Limited scope and full scope audit requirements. Recent changes to EBP Audit Guide. Financial statement reporting and disclosure requirements with examples. ASC 820 fair value accounting measurement, disclosure and reporting changes and issues. Updating and documenting the risk assessment in EBP audits. Changes in requirements for Form 5500. Importance of testing of participant data as well as contributions and payment. Identifying related party and part in interest and prohibited transactions.


Course Code:

4.00 Accounting, 4.00 Auditing

Field of Study:
Accounting, Auditing

Loscalzo Associates

Course Type:
Live Stream


None; however, some experience in conducting EBP audits would be helpful

Advanced Preparation: