Whether you are a plan administrator or CPA who audits employee benefit plans, you realize and understand the complexities and uniqueness that each employee benefit plan brings. The Department of Labor (DOL) and the AICPA also realize the complexities that accompany auditing an employee benefit plan.
As audit quality continues to be at the forefront for the DOL and the AICPA, these organizations have been looking for ways to address audit deficiencies. First, the AICPA introduced The AICPA Competency Framework: Employee Benefit Plan Auditing, which is designed to help CPAs understand the knowledge and skills necessary to perform high-quality EBP audits.
AICPA Employee Benefit Plan Certification Program
Now, the AICPA is introducing the Employee Benefit Plan Certification Program, to assist CPAs in preparing for and addressing these complexities and building competencies relative to employee benefit plan audits. The certificates are designed to help auditors demonstrate their level of expertise and commitment to audit quality as well as to assist plan sponsors in selecting a qualified and competent auditor. The Employee Benefit Plan Certification Program is comprised of the following programs:
Auditing Employee Benefit Plans
Advanced Defined Contribution Plans Audit Certificate
Advanced Defined Benefit Plans Audit Certificate
Advanced Health and Welfare Plans Audit Certificate
The certification programs will be available starting in the Spring of 2016.
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Material discussed is meant for informational purposes only, and it is not to be construed as investment, tax, or legal advice. Please note that individual situations can vary. Therefore, this information should be relied upon when coordinated with individual professional advice.