This session will provide an overview of key changes associated with the audit, as well as the reporting, when a defined benefit plan sponsor concludes the plan’s termination is imminent. The discussion will also cover the requirements for the liquidation basis of accounting, including examples of financial statements.
Upon completion of this session attendees will be able to:
• Evaluate the plan sponsor’s conclusion that termination is imminent
• Interpret audit risk factors associated with terminating the plan
• Evaluate the liquidation basis of accounting changes in reporting when it comes to plans you audit