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.