401(k) Audit Basics, Pt 3-Distribribution Testing, Investments and Audit Wrap-Up

Overview

Distribution testing, investments and audit wrap-up

Employee benefit plan audits are quite different from corporate audits and require an understanding of the unique audit areas specific to plans.

Part 3 of the 401(k) audit basics series addresses distribution testing, investments and audit wrap-up, including:

• The various types of plan distributions and benefit payments
• Types of plan investments and the related disclosures
• ERISA Section 103(a)(3)(C) and non-Section 103(a)(3)(C) audits and the common issues and errors typically seen in these areas
• Wrapping up the audit
• Common issues and errors seen in these areas

Prerequisites

None

Objectives

• Identify various types of plan investments.
• Distinguish required investment disclosures.
• Recall unique aspects of ERISA Section 103(a)(3)(C) and non-Section 103(a)(3)(C) audits and the common issues and errors typically seen in these areas.
• Identify the various types of plan distributions and benefit payments.
• Recognize issues to consider in wrapping up the audit.

Highlights

• Plan distributions and benefit payments
• Investments and related disclosures
• ERISA Section 103(a)(3)(C) audits
• Audit wrap-up