Details

Audit Risk Alert


Audit Risk Alert

Employee Benefit Plans Industry Developments, 2017
1. Aufl.

40,99 €

Verlag: Wiley
Format: EPUB
Veröffentl.: 08.09.2017
ISBN/EAN: 9781945498732
Sprache: englisch
Anzahl Seiten: 80

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Beschreibungen

The increasing complexity of employee benefit plan auditing and increased focus by the DOL have resulted in significant pressure for CPAs and firms performing EBP audits. To help CPAs meet the challenge of performing quality audits in this unique and complex area, the AICPA has developed this alert to assist in identifying current sources of risk within EBP audit engagements. A targeted discussion on new developments, issues auditors may face in their current audits, as well as a look at what’s in the pipeline that may affect their engagements is provided. Updates include: FASB ASU No. 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) FASB ASU No. 2015-10, Technical Corrections and Improvements FASB ASU No. 2015-12, Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965): (part I) Fully Benefit-Responsive Investment Contracts, (part II) Plan Investment Disclosures, (part III) Measurement Date Practical Expedient FASB ASU No. 2017-06, Employee Benefit Plan Master Trust Reporting FASB ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities
Employee Benefit Plans Industry Developments—2017 01-212 How This Alert Helps You 01-03 Economic and Industry Developments 04-09 The Current Economy 04-09 Hot Topics 10-17 Cybersecurity 10-13 Auditing Standards Board Employee Benefit Plan Auditor Reporting Project 14-17 Accounting Issues and Developments 18-63 Readily Determinable Fair Value 18-22 Disclosures When a New FASB Codification Update Is Issued 23-24 FASB ASU No. 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) 25-.29 FASB ASU No. 2015-12, Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965): (part I) Fully Benefit-Responsive Investment Contracts,(part II) Plan Investment Disclosures,(part III) Measurement Date Practical Expedient 30-50 FASB ASU No. 2017-06, Employee Benefit Plan Master Trust Reporting 51-57 FASB ASU No. 2016-01—Financial Instruments Changes in Disclosure Requirements 58-62 FASB ASU No. 2016-19, Technical Corrections and Improvements 63 Auditing Issues and Developments 64-84 Electronic Information 64-70 Trends in Legal Action 71-73 Limited-Scope Certifications: Plan Administrator’s Responsibilities 74-78 New Auditing Standard on Going Concern 79-84 Employee Benefit Plan Guide Update 85 11-K Filers 86-88 Name of the Engagement Partner 86-87 Reorganization of PCAOB Auditing Standards 88 Defined Benefit Pension Plans 89-119 Spot Rate Approach: Applicability for Plans Reporting under FASB ASC 960 90-91 Mortality Table 92-93 Accumulated Plan Benefits 94-99 Multiemployer Pension Reform Act of 2014 Benefit Suspension 100-102 Pension Risk Management 103-104 Participant Data and Frozen Plans 105-109 Maintaining Pertinent Records 110-116 Terminating Plans 117-119 Health and Welfare Benefit Plans 120-138 Economic and Demographic Assumptions 121-134 Other Assumptions 135 Retiree Reimbursement Account/Arrangement 136-138 Audit Quality 139-147 Tools to Further Audit Quality 139-142 Preparing for Peer Review 143-147 Recent Pronouncements 148-151 Recent Auditing and Attestation Pronouncements and Related Guidance 149 Recent Accounting Standards Updates  150 Recently Issued Technical Questions and Answers 151 Regulatory Developments—DOL 152-162 DOL ERISA Advisory Council Activities  152-154 2016 Form 5500 Annual Report 155 DOL Letters to Employee Benefit Plan Auditors Rounds Out Communication Plan to Help Improve Audit Quality 156-159 Change in Leadership within the Office of the Chief Accountant 160-162 Regulatory Developments—IRS 163-184 Determination Letters Downsizes 163-167 Employer Profit-Sharing Contributions 168-170 Changes in the Employee Plans Compliance Resolution System 171 IRS Audit Trends 172-173 Puerto Rico Plans 174-75 IRS Announces 2017 Plan Limits 176 Proposed Form 5500 Changes 177-178 IRS Extends Nondiscrimination Relief for Closed DB Plans 179 Partial Annuities 180 Expanded Missing Participant Program  181-183 IRS "Top Ten" List of Most Common Retirement Plan Issues 184 On the Horizon 185-191 Auditing and Attest Pipeline 187-190 Proposed Revised Mortality Tables 191 Employee Benefit Plan Resources 192-210 AICPA Employee Benefit Plan Audit Certificate Programs 193-194 Publications 195 Continuing Professional Education 196-197 Webcasts 198 Member Service Center 199 Hotlines 200-201 AICPA Online Professional Library: Accounting and Auditing Literature 202 Codified Clarity Standards 203-205 Financial Reporting Center of AICPA.org 206-208 Industry Conferences 209-210 Appendix A—Additional Internet Resources 211 Appendix B—Health and Welfare Plans 212

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