Introduction to Testing Employee Benefit Plan Audits - Part 2 1 CPE

This is the second of three courses in the series dedicated to helping new employee benefit plan auditors identify common audit areas and give specific examples of how to test each area.  Participants will view step by step walkthroughs of how testing is carried out in real practice and learn why certain testing procedures are necessary.  

In this course participants learn about employee and employer contributions and how to properly audit each area.  Also, we discuss the requirements for timely deposits and what to look for during your audit testing.  The detailed examples were designed to give participants knowledge and skills that can be implemented immediately and reduce the EBP learning curve.

Course Key Concepts: Audit, Limited, Scope, Employee, Benefit, Plan, EBP Audit, Disclaimer, DOL, Trust Report, Payroll, Eligibility, Compensation, Census, Contributions, Employee, Employer, Vesting.

Prerequisites

No advanced preparation or prerequisites are required for this course. However it is recommended to take Other EBP Audits courses by Corey Schmidt.
Introduction to Testing Employee Benefit Plan Audits - Part 1
Introduction to Testing Employee Benefit Plan Audits - Part 3

Learning Objective

• Identify the key considerations to testing employee contributions.
• Discover the different types of employer contributions and how to properly audit them.
• Recognize the requirements of remitting contributions timely and how to carry out proper procedures.

Last updated/reviewed: March 9, 2024