This session will focus on the distribution process of a defined contribution plan.
Attendees will:
• Identify the various types of distributions
• Recall how to design audit procedures to cover the identified assertions
• Identify testing procedures, including sampling, over the various types of distributions (retirements, rollovers, hardships, loans, etc.) as well as the different forms of payment (lump sum, annuities)
• Recall that testing will include vesting considerations
• Recall the testing and financial reporting for participant loans
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