AAR2205. Employee Benefit Plan Audit Risk Management Best Practices

This presentation focuses on risk management best practices when conducting audits of employee benefit plans. The session offers lessons learned from CAMICO’s decades-long history defending CPAs from employee benefit plan and other A&A claims and provides important dos and don’ts to protect CPAs and
their clients.

Topics highlighted will include:

• Where do EBP audit claims come from? What does history tell us?

• Impact of select recent pronouncements including:

• SAS No. 136 – Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA

• The recent suite of auditing standards

• SSARS No. 25 – Materiality in a Review of Financial Statements and Adverse Conclusions

• Lessons learned from CAMICO claims history

• Other risk management techniques to CYA (“cover your auditing/attest work”)

Learning Objectives:

• Identify risk management best practices when conducting audits of employee benefit plans.
• Identify important dos and don’ts to protect CPAs and their clients.