The AICPA Employee Benefit Plan Audit Quality Center has compiled the following helpful tools and resources for plan sponsors, administrators and trustees:
Find an EBPAQC Member Firm (by firm name or by state).
Form 5500 considerations for auditors
This non-authoritative practice aid provides an overview of the Form 5500 Series, non-authoritative tips and considerations for auditors in understanding the Form 5500 and schedules, and how information in the Form 5500 and schedules may relate to the plan’s financial statements.
Analyzing timeliness of remittances
This tool is intended to assist clients in documenting their analysis of the timeliness of remittances of participant (employee) contributions and loan repayments, if applicable, in defined contribution retirement plans.
Timely remittance of employee contributions in defined contribution retirement plans
This EBPAQC primer provides a general understanding of the DOL’s rules and regulations regarding the remittance of employee contributions and loan repayments in defined contribution retirement plans. This primer addresses DOL rules for remittance of employee contributions and loan repayments, plan management’s responsibilities for ensuring timely remittances, the auditor’s responsibilities, consequences for failure to timely remit employee contributions and loan repayments, and other helpful resources.
Common deficiencies in ERISA Section 103(a)(3)(C) audit certifications
This tool helps plan management understand its responsibilities for determining the acceptability of an ERISA Section 103(a)(3)(C) certification and identify common deficiencies in certifications. It also includes an illustration of a proper certification.
Conditions for plan management to elect an ERISA Section 103(a)(3)(C) audit
This tool is intended to assist plan management in assessing whether the conditions for electing an ERISA Section 103(a)(3)(C) audit have been met.
Identification of parties in interest and related parties
This non-authoritative tool is intended to be completed by plan management and includes information to assist them in identifying parties in interest and related parties.
Plan advisories
The AICPA Employee Benefit Plan Audit Quality Center prepares Plan Advisories for plan sponsors, administrators, and trustees. These comprehensive documents contain information to assist them in understanding their fiduciary and other responsibilities with respect to various aspects of their plans.
Request for proposal and the auditor evaluation process tool
This EBPAC tool assists plan sponsors and other stakeholders in the proposal and evaluation process to obtain quality audit services for employee benefit plans.
New audit standards for employee benefit plans: An overview for plan management plan advisory
This tool provides plan management (the plan sponsor, administrator, or trustee) with an understanding of new audit requirements in SAS No. 136 for performing and reporting on an audit of employee benefit plan financial statements subject to ERISA.