2023 AICPA & CIMA Employee Benefit Plans Conference

The business environment is complex and evolving more rapidly than ever. With changing demographics, revised client and talent expectations, and new technologies, we have to work differently, accelerate our adoption of technology by years and address the new risks presented. In order to position ourselves for success, we must understand prevailing environmental trends, how they impact what we do as assurance providers and advisors, and the opportunities they present.

A 403(b) Plan is a tax-advantaged retirement plan designed for non-profit organizations and certain government entities. The 403(b) Plan is similar to a 401(k) Plan, although it offers several enhanced benefits, such as catch-up contributions for tenured employees. This session will discuss the basics of 403(b) Plans, their benefits and the differences between 403(b) and 401(k) plans. It will also discuss prototype documents. Describe the differences between ERISA and non-ERISA 403(b).

This session will discuss opportunities to leverage data, technology, and external vendors to perform high quality and efficient audits of employee benefit plans both today and in the future.

This session includes a panel of plan sponsors who will discuss best practices of working with service providers, best features these plan sponsors utilize to help their plan meet participant needs and key/relevant internal controls and challenges. Plan sponsors will provide their biggest challenges and opportunities in operating their plan and maintaining compliance. This session will help plan sponsors and auditors gain insight into how plan sponsors operate. This session will give auditors insight to better serve and provide value to their own audit clients.

Join EBPAQC Executive Committee Chair Debbie Smith and AICPA Senior Director Carl Mayes for a discussion of SAS 145 and its impacts on your upcoming EBP audits.

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.

This session will address some of the unique accounting and auditing issues related to multiemployer plans, including payroll audits and other considerations.

This session will be an overview of the peer review process and cover common peer review findings, including those related to AU-C 703 deficiencies

This session will describe common derivative investments held by employee benefits plans (including forwards, futures, options and swaps) including how they are valued and on what exchanges they trade, if applicable. Reporting and disclosure requirements for derivative investments held by a benefit plan will be discussed. We will also cover the common additional information requests needed from the custodian or investment manager.

This session is Part I of II, in which we will work through the planning and risk assessment process for the fundamental track case study of an ERISA Section 103(a)(3)(C) audit. In summary, we will review the conceptual framework for audit planning, identify the circumstances for an ERISA Section 103(a)(3)(C) audit and understand the appropriate evaluation of a SOC 1 report and how it impacts your audit procedures. In addition, we will review the documentation of risk assessment in an EBP audit and identify the linkage of risk assessment to audit procedures.

This advanced tax session will cover a variety of hot topics in the compensation & benefits area. Experienced professionals will explain what they are hearing and what companies are concerned about or need to be aware of.

Recent auditing and accounting standards have updated both management and auditor responsibilities for considering internal controls. This session will address key internal controls that you should consider at the plan sponsor and with service providers and when to seek reliance on SOC 1 reports.

Hear from the cyber experts behind one of the top recordkeepers for 401(k) plans and an attorney who helps plan sponsors protect against cybercrime as well as works to ensure compliance with reporting requirements. This session will give you the latest knowledge about what the protocols are for protecting participants plan accounts. It will include what participants need to do to ensure for best protection. Plan Sponsors will hear about the dangers of ransomware payments from a unique perspective.

Learn about common operational errors in qualified retirement plans, the proper corrective action of those errors, the impact on plan financial statements, and an overview of the IRS and DOL correction programs from the perspective of an EBP auditor and an ERISA attorney.

This session is Part II of II, in which we will work through the planning and risk assessment process for the fundamental track case study of an ERISA Section 103(a)(3)(C) audit. In summary, we will review the conceptual framework for audit planning, identify the circumstances for an ERISA Section 103(a)(3)(C) audit and understand the appropriate evaluation of a SOC 1 report and how it impacts your audit procedures. In addition, we will review the documentation of risk assessment in an EBP audit and identify the linkage of risk assessment to audit procedures.