Limited-Scope Audits of 401(k) Plans: ERISA Section 103 (a)(3)(C) 2024

Overview

Auditing ERISA Section 103 (a)(3)(C) 401(k) Plans focuses on the “limited-scope” audits that comprise over 80% of the audits filed with the Department of Labor each year. The course takes a hands-on approach to performing these engagements in a manner that ensures compliance with the professional requirements included in AU-C 703.

Highlights

• Auditing and reporting requirements to meet when the client selects the ERISA Section 103(a)(3)(C) limited scope audit option • AICPA AU-C 703 Forming An Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA • AICPA Audit and Accounting Guide ’ Employee Benefit Plans ’ • Testing participant data

Prerequisites

None

Designed For

CPAs that perform ERISA Section 103(a)(3)(C) limited-scope audits of 401(k) plans.

Objectives

• Identify the requirements CPAs should follow when performing an ERISA Section 103(a)(3)(C) audit of a 401(k) plan • Recognize the authoritative literature applicable to performing an ERISA Section 103(a)(3)(C) audit of a 401(k) plan, in particular AU-C 703 • Become familiar with the contents of AU-C 703

Preparation

None