Audits of Employee Benefit Plans Subject to ERISA

⁨Course Description

Audits of Employee Benefit Plans Subject to ERISA focuses on the unique audit and reporting requirements for employee benefit plans governed by the Employee Retirement Income Security Act (ERISA). Participants will gain a clear understanding of the regulatory framework, including Department of Labor (DOL) requirements, Form 5500 reporting, and AICPA auditing standards such as SAS No. 136.

This course emphasizes practical application by exploring audit procedures, internal controls, risk assessment, and reporting considerations specific to employee benefit plans. It helps accounting professionals strengthen audit quality, ensure compliance, and confidently address the complexities of ERISA engagements.

What You’ll Learn

By the end of this course, you will be able to:

• Understand the regulatory framework governing ERISA employee benefit plan audits
• Identify key audit requirements under AICPA standards, including SAS No. 136
• Apply risk assessment and internal control evaluation techniques in EBP audits
• Analyze financial statement audit procedures specific to employee benefit plans
• Evaluate reporting requirements, including Form 5500 and auditor reporting changes
• Recognize common audit deficiencies and best practices for improving audit quality

Who This Course Is For

This course is designed for:

• CPAs performing or reviewing employee benefit plan audits
• Auditors responsible for ERISA plan engagements
• Accounting professionals working with retirement or health benefit plans
• Internal auditors involved in compliance and risk management
• Financial professionals supporting plan sponsors or administrators
• Professionals seeking to expand expertise in specialized audit areas

Key Topics Covered

• ERISA regulatory framework and Department of Labor (DOL) requirements
• AICPA auditing standards for employee benefit plans (including SAS No. 136)
• Types of employee benefit plans (defined contribution, defined benefit, ESOPs, health and welfare plans)
• Risk assessment and internal control considerations in EBP audits
• Audit procedures for plan financial statements, including contributions, benefits, and investments
• Form 5500 reporting and supplemental schedules requirements
• Auditor reporting requirements and communication with governance
• Common audit deficiencies, compliance issues, and quality improvement practices

Why This Course Matters

Audits of employee benefit plans subject to ERISA involve specialized audit procedures, compliance requirements, and reporting considerations that differ from standard financial statement audits. Understanding ERISA requirements and audit expectations is essential for accounting professionals responsible for ensuring accurate reporting and maintaining compliance with regulatory standards.

A strong foundation in employee benefit plan audits helps professionals manage audit risk, improve audit quality, and support reliable reporting for plan sponsors and stakeholders. For additional guidance on employee benefit plan audit requirements and standards, professionals may refer to resources published by the U.S. Department of Labor (Employee Benefits Security Administration).

Explore additional Auditing CPE Courses to further strengthen your expertise in auditing and compliance.

Frequently Asked Questions