Audits of 401(k) Plans - New Developments and Critical Issues
143 | Course | Basic | Scheduled
A Live Stream version of this event is available here.
One of the most favored employee benefit plans, the 401(k) plan, provides unique challenges for auditors. Obtain an understanding of the rules and regulations unique to employee benefit plans with the practical guidance provided by this course. Auditors will enhance their knowledge through real world examples, best practices and efficient audit techniques that can be utilized in various audit engagements. Make sure your audits don't trigger a DOL inspection by conforming to all applicable rules and regulations.
|Number of Credits||Type of Credits|
Practitioners responsible for planning and performing employee benefit plan audit engagements
Basic understanding of auditing defined contribution plans
- Learn how to properly plan your benefit plan audit engagement and develop an audit strategy while improving overall efficiency
- Find out how to avoid common pitfalls in planning and detailing audit procedures
- Annual update of the changes affecting 401(k) plans
- Description of common mistakes as noted in peer reviews and DOL inspections
- Properly document your understanding of the plan, the environment and internal controls for an employee benefit plan
- Understand the importance of reading, reviewing and documenting the controls in a Service Organization Control Report
- Identify potential audit triggers that may result in an inspection by the Department of Labor
- Understand the risks associated with a benefit plan audit engagement
- Avoid common mistakes noted during peer reviews
- Member (Early Bird)
- Non-Member (Early Bird)
Daryl G. Krause, CPA
Krause has CPA certifications in several Midwestern states. He practices public accounting as Manager & CEO of his regional CPA firm, headquartered in Indianapolis, Indiana, which he founded in 2005. DG Krause LLC is a member of the AICPA’s Employee Benefit Plan Audit Quality Center and performs employee benefit plan audit services for which Daryl serves as the sign-off partner.
Daryl has led more than 200 CPE programs for the AICPA, Surgent McCoy CPE, LLC, The Ohio Society of CPAs and Indiana CPA Society since 2008. He has led programs in 33 states and the District of Columbia for the AICPA alone, thereby helping thousands of CPAs around the country to maintain their licenses. He leads programs sponsored by State Societies, or Firm or Organization sponsored in-house programs. Chosen by the AICPA to be the Program Leader for the 2016 videotaping of Leases: Mastering the New FASB Requirements, an 8 hour CPE program introducing this critical new accounting topic, which is frequently rebroadcast and he often serves as its monitoring technical expert.
He has performed technical reviews during the development of certain AICPA courses including the 2013 editions of Revenue Recognition, Top 10 GAAP Issues, Internal Control Essentials for Accountants and Auditors and several Employee Benefit Plan related courses. He is the Content Matter Expert of the recently published AICPA Accounting Trends & Techniques Employee Benefit Plans-Best Practices in Presentation and Disclosure - Sixth Edition - 2016 copyrighted publication. Author of several 2016 employee benefit plan-related DG Krause LLC CPE programs offered by the Indiana CPA Society.
Previously he enjoyed 23 years of diversified responsibilities with Ernst & Young. Industries he served included manufacturing, construction, real estate and financial services. Roles included Ohio Valley Area Director of Employee Benefit Plan Services for 8 years, Senior Manager in the Entrepreneurial Services group for 3 years, Senior Manager in National Professional Development group for 5 years, which involved designing, developing and delivering core curriculum Audit and Entrepreneurial Services training programs for the entire U.S. practice.Back to Instructors