Risk Assessment and Planning Part I

May 6, 2019 1:40pm ‐ May 6, 2019 2:55pm

Identification: EBP1912

This session is part 1 of 2 of working through the planning and risk assessment process for the fundamental track case study and will continue in Session #19. These sessions include consideration of SOC 1 reports and certifications for limited scope audits.

  • Recognize necessary procedures to properly plan an employee benefit plan, through utilization of an example.
  • Recall risk assessment standards and linkage to planned procedures based on risk evaluation by audit area at the assertion level, utilizing examples of documentation tools.
  • Recognize when limited-scope audits are appropriate utilizing evaluation tool.
  • Identify a SOC 1 report and recall its components' (i.e., user controls) impact on planned procedures and risk assessment by walking through a SOC 1 evaluation.

Using an Actuarial Report in Your Audit

May 6, 2019 1:40pm ‐ May 6, 2019 2:55pm

Identification: EBP1913

This session will cover the objectives and uses of an actuarial report, the information contained in a report, assessing the actuarial methods and assumptions and discussing the information in the report that is most useful to an auditor.

  • Determine what information is relevant for auditing purposes.
  • Analyze the structure of a typical report.
  • Apply the assumptions used and how to assess them.
  • Select an actuary as a specialist based the qualifications.

On Auto-Pilot: Automatic Provisions Don't Always Always Equal Smooth Sailing

May 6, 2019 1:40pm ‐ May 6, 2019 2:55pm

Identification: EBP1914

This session will cover what are all the automatic options in plans to today (enrollments, distributions, investing, salary increases, etc), corrections for when someone is not auto-enrolled timely, and Rev Proc 2015-28.

  • Obtain a basic understanding of common automatic provisions within the plan document - such as enrollments, escalation, and distributions.
  • Understand challenges and most common errors related to automatic provisions.

Fringe Benefit Trends

May 6, 2019 1:40pm ‐ May 6, 2019 2:55pm

Identification: EBP1915

Fringe benefits are a hot topic for employers looking to attract and retain talent in a tight labor market. Often, fringe benefits can be provided at relatively little cost while still providing benefit that employees value. Over time, changes in the business environment and employee demographics cause different fringe benefits to be perceived as valuable. This course will provide an overview of recent fringe benefit trends and the considerations for offering those benefits. Some benefits covered may include student loan payments, snacks, reward programs, and wellness programs.

  • Recognize recent trends in fringe benefits.
  • Recall tax consequences of trending fringe benefits.
  • Identify important factors when choosing fringe benefits.

Employee Benefits and Executive Compensation Issues in Mergers and Acquisitions

May 6, 2019 1:40pm ‐ May 6, 2019 2:55pm

Identification: EBP1916

Session covers various employee benefit and executive compensation issues that arise in connection with mergers and acquisitions, including strategies for both buyers and sellers to address the issues.

  • Predict health benefit plan issues in mergers and acquisitions.
  • Assess and develop strategies for addressing the various issues that may arise.

Risk Assessment and Planning Part II

May 6, 2019 3:25pm ‐ May 6, 2019 4:40pm

Identification: EBP1919

This session is part 2 of 2 of working through the planning and risk assessment process for the fundamental track case. These sessions include consideration of SOC 1 reports and certifications for limited scope audits.

  • Recognize necessary procedures to properly plan an employee benefit plan, through utilization of an example.
  • Recall risk assessment standards and linkage to planned procedures based on risk evaluation by audit area at the assertion level, utilizing examples of documentation tools.
  • Recognize when limited-scope audits are appropriate utilizing evaluation tool.
  • Identify a SOC 1 report and recall its components' (i.e., user controls) impact on planned procedures and risk assessment by walking through a SOC 1 evaluation.

Sort Out the SOC Reports Used in Your EBP Audits (Repeated in Session EBP1957)

May 6, 2019 3:25pm ‐ May 6, 2019 4:40pm

Identification: EBP1920

Each year, you hear about increasing the usage of SOC 1 reports in your EBP audits. Attend this session and leave knowing why it's imperative to use a SOC 1 report in your audit, if applicable. The session will cover key differences between SSAE 16 and SSAE 18. Content will also include subservice provider reports and noting subservice provider user controls, efficient ways to review and summarize a SOC 1 report, and what to do if you can't obtain a SOC 1 report but need one.

  • Identify the appropriate audit approach regarding subservice organizations and complimentary user entity controls.
  • Analyze the impact of carve-outs, complementary user controls, exceptions in testing, and report qualifications.
  • Analyze the differences between SSAE 16 and SSAE 18.
  • Determine efficient ways to summarize and evaluate information in SOC 1 reports.

Is an ESOP Right for Your Company?

May 6, 2019 3:25pm ‐ May 6, 2019 4:40pm

Identification: EBP1921

This session will discuss whether an ESOP is the best business succession planning tool for a company. We will provide an overview of an ESOP, why a company might or might not want one, and tax/economic/business perspectives of an ESOP. We will provide a case study to illustrate the analysis.

  • Identify clients in which an ESOP as a business succession planning alternative is appropriate.
  • Recall aspects of an ESOP in order to propose to potential ESOP candidates.
  • Recognize potential advantages and disadvantages of ESOPs, including concerns related to risk, cost, and complexity.

Beyond Cybersecurity: Attack of the New Wave of Privacy Regulations

May 6, 2019 3:25pm ‐ May 6, 2019 4:40pm

Identification: EBP1922

Emerging data privacy regulations globally constitute a “third wave” of corporate security and privacy risk that most companies don’t realize yet. Companies now have the obligation to protect the personal data of individuals they connect with in any way, including employees, prospects, vendors, and customers. While the GDPR certainly generated headlines, it is by no means unique any longer – California, Brazil, Vietnam, and others have passed similar legislation. A Federal law is on the horizon. Individuals have greatly expanded rights and are wielding them in earnest. In this session, we will cover the latest updates to the emerging trends in data privacy regulation, and their impact on plans and their auditors – exploring how to reconcile these new requirements while maintaining the integrity of our audits.

  • Explain the impact of new privacy regulations on the handling of personal data during audits.
  • Select appropriate techniques to meet audit standards while maintaining compliance with these regulations.

Stable Value Investment Case Study

May 6, 2019 3:25pm ‐ May 6, 2019 4:40pm

Identification: EBP1923

Walk through two case studies on financial reporting for stable value investments.

  • Evaluate the structure of stable value investments, the various types of fully benefit responsive investment contracts utilized, and the investment vehicles commonly available to plans.
  • Interpret real life examples, including simplified FASB reporting and 5500 reporting.