AICPA & CIMA

In this session we will consider the consulting opportunities that arise when reviewing a plan's non-discrimination testing; we'll explore why a plan will never fail testing; and we'll consider the Secure Act Closed Plan rules and what they mean for sponsors.

Learning Objectives:

Identify the consulting opportunities non-discrimination testing presents.
Determine the various options to pass non-discrimination testing.

Category: Pre-Conference Optional Workshops Additional Fee

Compensation & Benefits Foundations

May 10, 2022 10:05am ‐ May 10, 2022 11:20am

Identification: EBP2202

The session provides an overview of typical compensation types, including qualified retirement plans, bonuses, deferred compensation, and fringe benefits. We introduce participants to rules relating to employee income inclusion, employer tax deductions, and the timing of each. Through review and examples, participants will learn to identify tax compliance issues. We include a few very limited comments on book-tax differences. Because, generally, all clients have compensation & benefits , the session will help those who have not taken a compensation and benefits course to gain a general understanding of these items but may also be a good refresher for those who have not dealt with compensation & benefits issues recently.

Learning Objectives:

Recognize typical examples of employee compensation and benefits
Indicate differences in taxation timing for different types of benefits
Identify the general tax consequences of various benefits

ESOP Overview

May 10, 2022 10:05am ‐ May 10, 2022 11:20am

Identification: EBP2204

This course will provide an overview of employee stock ownership plans (ESOPs). Topics will include what is an ESOP, how it works differently than other qualified plans, and the differences for C vs S corporations with ESOPs. The course will not be specific with respect to audit procedures but will provide an understanding of the various cash and stock flows that occur with ESOPs with a focus on leveraged ESOPs.

Learning Objectives:

Determine why companies may sponsor an ESOP
Identify how an ESOP is structured
Differentiate what rules apply differently for an ESOP

Lessons Learned from Peer Review

May 10, 2022 10:05am ‐ May 10, 2022 11:20am

Identification: EBP2205

This session will provide an overview of the peer review process ( including recent changes), identify key areas in peer review on which to focus to successfully navigate (and hopefully pass) your firm's review, and share lessons learned from "not so perfect" reviews.

Learning Objectives:

Formulate a better understanding of the peer review process
Predict from the mistakes of others to better prepare for your firm's review
Evaluate resources to assist with ongoing practice monitoring

New EBP Audit Standard (AU-C Section 703) Part I

May 10, 2022 10:05am ‐ May 10, 2022 11:20am

Identification: EBP2208

The session will provide an overview of planning and risk assessment considerations under AU-C Section 703.

Learning Objectives:

Use best practices when implementing specific aspects of AU-C Section 703, including engagement acceptance, engagement letters, management responsibilities
Identify opportunities for educating plan sponsors and audit staff
Apply relevant plan provisions and linkage to audit response

Basics of Employer-Provided Healthcare & Fringe Benefits

May 10, 2022 12:20pm ‐ May 10, 2022 1:35pm

Identification: EBP2207

From the ACA to ERISA to HIPAA and the Mental Health Parity and Addiction Equity (MHPAE) Act, this session will provide an introduction to the tax and regulatory structure of employer-sponsored group health and fringe benefit plans.

Learning Objectives:

Recall the key federal laws governing group health and fringe benefit plans.
Identify the basic federal tax and regulatory structure for these benefits.

Nondiscriminatory & Compliance Testing - What Auditors Need to Know

May 10, 2022 12:20pm ‐ May 10, 2022 1:35pm

Identification: EBP2209

This session will provide an overview of the key compliance tests for benefit plans. We will cover the auditor’s responsibility related to the testing and impact on the audit. Additionally, we will discuss the impact of common testing failures on the audited financial statements. After attending this session, attendees will be positioned to:

Learning Objectives:

Identify common compliance tests
Distinguish the types of compliance tests required for different plan types
Recognize the impact of common testing failures on the plan audit

UBIT - Definitions, Investment Pros & Cons, Reporting (Employee Benefit Plan Related)

May 10, 2022 12:20pm ‐ May 10, 2022 1:35pm

Identification: EBP2210

Like other tax-exempt entities, employee benefit plan trusts are subject to the unrelated business income (UBI) tax rules of IRC sections 511 through 514. This session will explore potential UBI from alternative investments, special rules for section 501(c)(9) VEBAs, and state income tax matters.

Learning Objectives:

Formulate an understanding of the basic concepts of unrelated business income including UBI generated by alternative investments.
Evaluate the challenges of state tax compliance.

Understanding Plan Documents

May 10, 2022 12:20pm ‐ May 10, 2022 1:35pm

Identification: EBP2211

This session is part of the fundamentals track case study. This session will dive into understanding the plan documents, including identifying relevant plan provisions of the defined contribution case study, which is utilized for all of the fundamental track sessions.

Learning Objectives:

Identify the different types of plan document designs and common plan amendments
Recognize relevant plan provisions of the case study to consider risk assessment and develop audit procedures
Identify a practical example of the AICPA EBPAQC's Plan Document Tool to summarize the relevant plan provisions

New EBP Audit Standard (AU-C Section 703) Part II

May 10, 2022 12:20pm ‐ May 10, 2022 1:35pm

Identification: EBP2237

The session will provide an overview of concluding and reporting considerations under AU-C Section 703.

Learning Objectives:

Identify elements of a substantially complete Form 5500
Select and communicate reportable findings
Determine the various circumstances impacting auditor’s reports

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