EBP2241. Everything You Ought to Know About Distributions and Plans Expenses
This session will provide an overview of distributions and common errors in a defined contribution plan and will focus on the testing of distributions and plan expenses for the fundamentals track case study. * Identify the various types of distributions (retirement, rollovers, hardships, loans, etc.), vesting and forfeitures, as well as the different forms of payment (lump sum, annuities). * Recall the risk assessment of relevant assertions and the planned audit procedures of the case study. * Select sampling and testing procedures for distributions (including vesting and forfeitures), participant loans, and hardships utilizing examples from the fundamental track case study.
Learning Objectives:
- Identify the various types of distributions (retirement, rollovers, hardships, loans, etc.), vesting and forfeitures, as well as the different forms of payment (lump sum, annuities).
- Recall the risk assessment of relevant assertions and the planned audit procedures of the case study.
- Indicate sampling and testing procedures for distributions (including vesting and forfeitures), participant loans, and hardships utilizing examples from the fundamental track case study.
Date/Time
–
CPE Credits
1.5
NASBA Field of Study
Auditing
Accounting
Level
Basic
Prerequisites
1-2 Years in the Profession
Advanced Preparation
None