Audits of Employee Benefit Plans Conference (E2305220)

8-8:50 a.m.
SECURE Act 2.0: Understanding the Implications for Qualified Retirement Plans for 2023 and Beyond
Charles Rosenberg, CRC, CRA, AIF - Intac Actuarial Services
Andrea Zimerman, QKC, QKA - Intac Actuarial Services
The SECURE Act 2.0 of 2022 builds on the original SECURE Act (Setting Every Community Up for Retirement Enhancement Act of 2019) which expanded access to retirement accounts, promoted participation and preserved savings. Learn the key provisions you and your clients should be aware of and ensure your clients are maximizing the opportunities provided by the new legislation.

9-10:15 a.m.
U.S. Department of Labor Update
Michael Auerbach, CPA – U.S. Department of Labor
Find out what’s going on at the Employee Benefits Security Administration's Office of the Chief Accountant. This session will include:

• Why plan administrators are receiving correspondence from the Office of the Chief Accountant.
• Reporting deficiencies and tips on how to help your clients be compliant with ERISA and AU-C 703
• Audit quality and the common deficiencies that continue to plague benefit plan audits
• What you can do to help make sure your audits are satisfactory

10:25-11:15 a.m.
Accounting and Auditing Update
Heather Karpawich, CPA – Grant Thornton
Mia Tempesta, CPA – Grant Thornton
Obtain knowledge of essential accounting and auditing considerations affecting 2022 employee benefit plan audits. This session offers discussions on existing guidance and practical insight on implementing new and proposed accounting and auditing standards for employee benefit plan financial statements.

11:25 a.m.-12:15 p.m.
SAS 142 Audit Evidence
Michael Kaplan, CPA – Smolin, Lupin & Co., LLC
Noorus Khan, CPA - Smolin, Lupin & Co., LLC
This session will review the requirements of AU-C section 500 and changes after issuance of Statement on Auditing Standards (SAS) No. 142, including how to assess the reliability and relevance of audit evidence in employee benefit plans and the challenges auditors may encounter.

12:15-12:45 p.m.
Lunch

12:45-1:35 p.m.
Variations in SOC 1 Reports
Michael Gilchrist, CPA – Marcum, LLP
System and Organization Controls (SOC) 1 reports can be the heart of the control environment in employee benefit plans. This session will discuss the variations of SOC 1 reports and how they affect your assessment of risk and the timing and extent of audit procedures. It will also cover how SAS No. 145 will enhance the requirements and guidance related to assessing control risk using the SOC 1 report.

1:45-2:35 p.m.
Defined Benefit Plans: Audit Approach and Challenges
Sylwia Hejzner, CPA - EisnerAmper LLP
Defined benefit plans unique characteristics dictate the audit approach that is different from defined contribution plans. This session will discuss auditor’s responsibilities and audit approach for the unique aspects of defined benefit plans as well as common practice and financial reporting issues.

2:45-4 p.m.
Common Reporting and Auditing Issues
Donna Nevolo, CPA – WithumSmith+Brown
Sean Linde, CPA – WithumSmith+Brown
This session will identify and discuss the most common deficiencies encountered while performing audits of employee benefit plans.