Disallowed Deductions for Parking and Commuting iconDisallowed Deductions for Parking and Commuting

Disallowed Deductions for Parking and Commuting

Nov 10, 2020 1:15pm ‐ Nov 10, 2020 2:30pm

Identification: EBP2016

Employers who pay commuting or parking costs for their employees are no longer able to deduct these amounts.  There are a number of exceptions that protect the deduction.  Applying these rules has many nuances, including some helpful safe harbors.  In this session, learn how to apply the rules and when exceptions are available.

Learning Objectives:
  • Apply the rules to appropriately apply the disallowed deduction rules for commuting expenses
  • Apply the rules to appropriately apply the disallowed deduction rules for employer provided parking
  • Identify possible changes to be made to employer provided parking policies to maintain the deduction
Cybersecurity Incident Response: A Walk Through A Data Breach iconCybersecurity Incident Response: A Walk Through A Data Breach

Cybersecurity Incident Response: A Walk Through A Data Breach

Nov 10, 2020 1:15pm ‐ Nov 10, 2020 2:30pm

Identification: EBP2017

Walk through a cybersecurity incident with a cybersecurity attorney and a FBI agent from the Cyber Crimes Division. Beginning with an overview of common threats, this session will delve deep into practical guidance on what to do and not to do in a cybersecurity event.

Learning Objectives:
  • Distinguish common cybersecurity threats
  • Identify best practices for handling a cybersecurity incident
SOC 2, SOC 3 and SOC for Cyber Security Risk Management – Relevance to your Clients iconSOC 2, SOC 3 and SOC for Cyber Security Risk Management – Relevance to your Clients

SOC 2, SOC 3 and SOC for Cyber Security Risk Management – Relevance to your Clients

Nov 10, 2020 2:45pm ‐ Nov 10, 2020 3:35pm

Identification: EBP2018

This session will review SOC 2, SOC 3 and SOC for Cyber Security Risk Management to assess the content and the differences between the reports; for consideration in interpreting relevance to your clients.
Learning Objectives:
  • Differentiate between the basics of SOC 2, SOC 3 and SOC for Cyber Security Risk Management reports
  • Interpret the SOC 2, SOC 3 and SOC for Cyber Security Risk Management reports for and understanding of EBP entities (not for direct EBP audit reliance).
  • Interpret Trust Services Criteria: Security, Confidentially, Privacy Availability and Processing Integrity.
  • Evaluate the extent of how auditors can review and interpret cyber security issues for client communications.
The Good, the Bad, and the Ugly of Plan Design Changes iconThe Good, the Bad, and the Ugly of Plan Design Changes

The Good, the Bad, and the Ugly of Plan Design Changes

Nov 10, 2020 2:45pm ‐ Nov 10, 2020 3:35pm

Identification: EBP2019

Many employers are currently considering redesigning their qualified and non-qualified retirement plans, as a result of a number of factors.  Although plan design discussions are lengthy, issues can be overlooked.  During this presentation, we will discuss these important but less talked about issues so the design discussions can be more thorough.
Learning Objectives:
  • Recognize issues related to plan design changes that are commonly overlooked or disregarded
  • Identify how to assess the impact of commonly overlooked issues in plan design changes
  • Indicate the advantages and risks associated with non-discrimination testing
Employee Benefits Litigation - Recent Cases and what we learn from them iconEmployee Benefits Litigation - Recent Cases and what we learn from them

Employee Benefits Litigation - Recent Cases and what we learn from them

Nov 10, 2020 4:05pm ‐ Nov 10, 2020 5:20pm

Identification: EBP2022

This session will discuss recent employee benefit plan lawsuits and what plan fiduciaries and others can learn from these cases regarding the prudent operation of benefit plans.

Learning Objectives:
  • Identify recent best practices from real-life facts
  • Identify fiduciary practices from the non-monetary aspects of recent settlements
Choices for Small and Start-up Business Benefit Plans iconChoices for Small and Start-up Business Benefit Plans

Choices for Small and Start-up Business Benefit Plans

Nov 10, 2020 4:05pm ‐ Nov 10, 2020 5:20pm

Identification: EBP2023

This session will explain the various retirement plan types available to small + start-up businesses. We will discuss the rules that pertain to each plan type and the employer responsibility. The session will discuss the advantages and disadvantages of small retirement plans.

Learning Objectives:
  • Explain the various retirement plan types available to small + start-up businesses
  • Discuss the rules that pertain to each plan type and the employer responsibility
  • Discuss the advantages and disadvantages of small retirement plans
Advanced SOC 1 Matters iconAdvanced SOC 1 Matters

Advanced SOC 1 Matters

Nov 10, 2020 4:05pm ‐ Nov 10, 2020 5:20pm

Identification: EBP2024

This session will address advanced topics related to SOC 1 reports and their utilization within an employee benefit plan audit.
Learning Objectives:
  • Evaluate risk assessment considerations from current guidance with a focus on SOC 1 reliance considerations and requirements
  • Assess SOC 1 report adequacy of presentation, testing and control coverage.
  • Evaluate user entity controls relevancy and level of testing the user entity should consider and the effect on the EBP audit.
  • Analyze carve-outs and their relevancy for the user entity and the effect on the EBP audit.
Financial Statements - Common Errors iconFinancial Statements - Common Errors

Financial Statements - Common Errors

Nov 10, 2020 5:35pm ‐ Nov 10, 2020 6:25pm

Identification: EBP2026

Go through financial statements addressing the following:

  1. Identify common errors seen in financial statements.
  2. Differentiate financial statement presentation based on certain benefit plan types (e.g. defined contribution, defined benefit and health and welfare).
  3. Focus on how to correct the errors.
Learning Objectives:
  • Identify and discuss common errors seen in various plan types related to the financial statements, opinions, and footnotes
  • Recall how to correct the common errors seen within the financial statements, opinions, and footnotes.
The Auditor’s Role in Cybersecurity Risk Management iconThe Auditor’s Role in Cybersecurity Risk Management

The Auditor’s Role in Cybersecurity Risk Management

Nov 10, 2020 5:35pm ‐ Nov 10, 2020 6:25pm

Identification: EBP2027

You continue to hear about cybersecurity and risk management when it comes to your audits. Yet, what are the next steps once you’ve inquired about a client’s risk management plan? Better yet, what are the next steps when you find out there is no plan? This session will provide insight into how and why CPAs and accounting professionals should be involved in these inquiries and processes. Cybersecurity risk management best practices, frameworks, and how to tie these into strategic initiatives will be discussed.
Learning Objectives:
  • Recognize the importance of an auditor’s role in evaluating a client’s cybersecurity risk management system and process.
  • Select proper audit procedures that fall under an auditor’s responsibility to test cybersecurity.
  • Recall cybersecurity frameworks and how these should be used in strategic planning.
Part II: Risk Assessment Standards & COVID19 iconPart II: Risk Assessment Standards & COVID19

Part II: Risk Assessment Standards & COVID19

Nov 10, 2020 5:35pm ‐ Nov 10, 2020 6:25pm

Identification: EBP2028

This session will address how COVID-19 is impacting EBP audit risk assessments. Participants will learn about areas of heightened risk and common misconceptions detected through peer review while walking through practical examples illustrating how to apply the risk assessment standards in an EBP audit.