Employee Benefit Plans 2018
AICPA Audit and Accounting Guide 1. Aufl.
Considered the industry standard resource, this guide provides practical guidance, essential information and hands-on advice on the many aspects of accounting and authoritative auditing for employee benefit plans. This new edition has been updated to include additional information related to the issuance of the going concern standard, revisions to provide further guidance related to limited-scope audits, a new illustrative auditor's report for 11-K audits, and has been revised for the recodification of the attestation standards.Updates include: Q&A section 2220.27, "Determining When the Practical Expedient is Not Used or Not Available" Q&A section 2220.28, "Definition of Readily Determinable Fair Value and Its Interaction with the NAV Practical Expedient" SAS No. 132, The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern PCAOB Release No. 2015-008, â€œImproving the Transparency of Auditsâ€? AS 3101, The Auditor's Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion SSAE No. 18, Attestation Standards: Clarification and Recodification
1 Introduction and Background .01-.37 Introduction .01-.07 Applicability to Governmental Entities .04-.07 Background .08-.12 Defined Contribution Retirement Plans .09 Employee Stock Ownership Plans .10 Defined Benefit Pension Plans .11 Health and Welfare Benefit Plans .12 Financial Accounting and Reporting for ERISA Plans .13-.21 Governmental Regulations .15 Reporting and Disclosure Requirements .16-.19 Plans Pursuant to the SEC Reporting Requirements .20-.21 Audit Requirements .22-.24 Operation and Administration .25-.34 Accounting Records .35-.37 2 Planning and General Auditing Considerations .01-.142 Overview .01-.10 Categories of Professional Requirements .08-.09 Interpretive Publications .10 Quality Control Standards, Including Client Acceptance and Continuance and Engagement Quality Control Reviews .11-.18 Client Acceptance and Continuance .11-.16 Engagement Quality Control Review .17-.18 Audit Scope .19-.38 Limited-Scope Audit Exemption .22-.26 Other Applicable Auditing Guidance .27-.30 Communication With Those Charged With Governance .31-.38 Engagement Letter .39-.43 Audit Planning .44-.62 Coordination of Plan Sponsor and Plan Audits .48 Considerations for Payroll and Demographic Data .49-.53 Use of Internal Auditors .54-.57 Involvement of Professionals Possessing Specialized Skills .58-.59 Financial Reporting Considerations .60-.61 Communication and Coordination .62 Audit Risk .63 Transactions Processed by Service Organizations .64 Using the Work of a Specialist .65-.94 Background .65 Decision to Use the Work of a Specialist .66-.94 Related-Party and Party in Interest Transactions .95-.116 Audit Considerations .106-.116 Consideration of Laws and Regulations and Prohibited Transactions .117-.128 Communication With Responsible Parties .125 Effect on the Auditor’s Report .126-.128 Accounting Estimates .129-.130 Going Concern Considerations .131-.133 Initial Audits of the Plan .134-.142 3 Audit Risk Assessment .01-.71 Overview .01 Audit Risk .02-.06 Planning Materiality .07-.11 Performance Materiality .10-.11 Understanding the Entity and Its Environment, Including Its Internal Control .12-.29 Risk Assessment Procedures .15-.22 Discussion Among the Engagement Team .23-.24 The Entity and Its Environment .25-.27 The Entity’s Internal Control .28-.29 Risks Assessment and the Design of Further Audit Procedures .30-.49 Identifying and Assessing the Risks of Material Misstatement .30 Use of Assertions in Assessment of Risks of Material Misstatement .31-.36 Other Risk Assessment Considerations .37 Designing and Performing Further Audit Procedures .38-.49 Evaluation of Misstatements Identified During the Audit .50-.53 Audit Documentation .54-.55 Consideration of Fraud .56-.71 Risk Assessment Procedures and Related Activities .58-.60 Identification and Assessment of the Risks of Material Misstatement Due to Fraud .61-.68 Evaluation of Audit Evidence 69-.71 4 Internal Control .01-.28 Using a Service Organization and Related Audit Considerations .11-.28 5 Defined Contribution Retirement Plans Including Employee Stock Ownership Plans .01-.801 5A Defined Contribution Retirement Plans .01-[.399] Introduction and Background .01-.05 Administration and Operation of a DC Plan .06-.08 Accounting, Reporting, and Auditing DC Plans .09-.10 Financial Statements .11-.12 Net Assets Available for Benefits .13-.67 Participant Allocations .14-.15 Cash Balances .16-.19 Investments .20-.48 Participant Loans (Notes Receivable From Participants) .49-.51 Contributions and Contributions Receivable .52-.56 Rollover Contributions .57-.58 Other Receivables .59 Forfeitures .60-.62 Operating Assets .63-.64 Accrued Liabilities .65-.67 Changes in Net Assets Available for Benefits .68-.76 Participant Benefits, Distributions, and Withdrawals .72 Benefit Payments .73 Plan Expenses .74-.76 Financial Statement Disclosures .77-.94 Fair Value Measurements .80 Derivatives and Hedging .81-.85 Master Trusts .86-.88 Financial Instruments .89-.90 Risks and Uncertainties 91-.94 403(b) Plans or Arrangements 95-.98 Plan Transfers (Plan Mergers, Spin-Offs, and Other Transfers) .99-.103 Going Concern .104 Terminating Plans (Full and Partial) .105-.112 Changes in Service Providers .113-[.199] Auditing Considerations for DC Plans .200-[.399] Determining Audit Strategy .204-.207 Participant Accounts and Allocations .208-.210 Cash Balances .211-.215 Investments and Related Income .216-.228 Notes Receivable From Participants (Participant Loans) .229-.232 Contributions and Certain Participant Data .233-.234 Contributions and Contributions Receivable .235-.246 Rollover Contributions .247-.248 Other Receivables .249-.251 Forfeitures .252-.254 Operating Assets .255-.256 Accrued Liabilities .257-.259 Participant Benefits, Distributions and Withdrawals .260-.263 Plan Expenses .264-.267 Plan Transfers (Plan Mergers, Spin-Offs, and Other Transfers) .268-.272 Terminating Plans .273-.275 Changes in Service Providers .276-.278 SEC Reporting Requirements .279-[.399] 5B Employee Stock Ownership Plans .400-.[.799] Introduction and Background .400-.421 Participant Allocations .406-.408 Valuation Terminology .409 Contributions .410 Distributions .411 Voting Rights .412 Put Option .413 Diversification .414-.416 Financing Employer Stock Purchases .417-.418 Suspense Account (Unallocated Shares) .419 Share Release Formula .420 Debt Service Payment .421 Administration and Operation of an ESOP .422-.423 Regulatory Reporting Requirements .424 Accounting, Reporting, and Auditing ESOPs .425-.426 Financial Statements .427-.429 Net Assets Available for Benefits .430-.461 Allocations .433-.436 Cash Balances .437 Investments .438-.442 Valuation Techniques .443-.448 Participant Loans .449 Contributions and Contributions Receivable .450-.452 Rollover Contributions .453 Other Receivables .454 Forfeitures .455-.457 Leveraged ESOP Debt .458-.459 Accrued Liabilities .460 Other Liabilities .461 Changes in Net Assets Available for Benefits .462-.473 Participant Benefits, Distributions, and Withdrawals .468-.470 Plan Expenses .471-.473 Financial Statement Disclosures .474-.492 Fair Value Measurements .478-.483 Financial Instruments .484-.485 Risks and Uncertainties .486-.490 Subsequent Event Considerations for ESOPs .491 Prohibited Transactions and Party in Interest Transactions .492 Plan Transfers (Plan Mergers, Spin-Offs, and Other Transfers) .493 Going Concern .494 Terminating Plans (Full and Partial) .495-.501 Changes in Service Organization .502-[.599] Auditing Considerations for ESOPs .600-[.799] Determining Audit Strategy .604-.607 Valuation Terminology .608 Risk Assessment Considerations .609 Participant Accounts and Allocations .610-.613 Cash Balances .614 Investments and Related Income .615-.628 Limited-Scope Auditing Considerations .629-.631 Contributions and Certain Participant Data .632 Contributions and Contributions Receivable .633-.638 Rollover Contributions .639 Forfeitures .640-.642 Leveraged ESOP Debt and Interest Expense .643-.646 Accrued Liabilities .647 Other Liabilities—Employer Advances .648-.651 Participant Benefits, Distributions and Withdrawals .652-.658 Floor Price Protection .659-.662 Plan Expenses .663 Plan Mergers and Spin-offs .664 Terminating Plans (Full and Partial) or Frozen Plans .665-.770 Changes in Service Providers .671-[.799] Appendix A—Defined Contribution Retirement Plan .800 Appendix B—Regulations, Administration, and Operation of an ESOP .801 6 Defined Benefit Pension Plans .01-.205 Introduction and Background .01-.04 Administration and Operation of a DB Plan .05-.07 Accounting, Reporting, and Auditing DB Plans .08-.11 Financial Statements .12-.15 Net Assets Available for Benefits .16-.71 Cash Balances .16-.20 Investments .21-.55 Contributions and Contributions Receivable .56-.65 Other Receivables .66 Operating Assets .67-.68 Accrued Liabilities .69-.71 Changes in Net Assets Available for Benefits .72-.78 Benefit Payments .75 Plan Expenses .76-.78 Accumulated Plan Benefits .79-.93 Changes in Accumulated Plan Benefits .94 Financial Statement Disclosures .95-.114 Fair Value Measurements .99 Derivatives and Hedging .100-.105 Master Trusts .106-.107 Financial Instruments .108-.109 Risks and Uncertainties .110-.114 Plan Transfers (Plan Mergers, Spin-Offs, and Other Transfers) .115-.120 Going Concern .121 Terminating Plans (Full or Partial) and Frozen Plans .122-.133 Terminating Plans .122-.130 Frozen Plans .131-.133 Changes in Service Providers .134 Auditing Considerations for DB Plans .135-.204 Determining Audit Strategy .139-.142 Cash Balances .143-.147 Investments and Related Income .148-.156 Contributions and Contributions Receivable .157-.168 Other Receivables .169-.171 Operating Assets .172-.174 Accrued Liabilities .175-.177 Benefit Payments .178-.181 Plan Expenses .182-.185 Accumulated Plan Benefits and Participant Census Data .186-.192 Plan Transfers (Plan Mergers,Spin-Offs, and Other Transfers) .193-.197 Terminating Plans (Full or Partial) or Frozen DB Plans .198-.201 Changes in Service Providers .202-.204 Appendix A—Defined Benefit Pension Plan Operations and Administration .205 7 Health and Welfare Benefit Plans .01-.237 Introduction and Scope .01-.11 Trust Arrangements .05-.07 Defining the Reporting Entity .08-.11 Background .12-.17 Administration of a Health and Welfare Benefit Plan .12 HIPAA Considerations .13-.15 Annual Health Care Process .16-.17 Health and Welfare Arrangements .18-.25 Accounting and Reporting for H&W Plans .20-.25 Financial Statements .26-.31 Defined Benefit H&W Plan .26-.28 Defined Contribution H&W Plan .29-.31 Net Assets Available for Benefits 32-.74 Cash .33-.37 Investments .38-.54 401(h) Accounts .55-.58 Contributions and Contributions Receivable .59-.62 Other Receivables .63-.65 Deposits With and Receivables From Insurance Companies and Other Service Providers .66-.70 Operating Assets .71-.72 Accrued Liabilities .73-.74 Changes in Net Assets Available for Benefits .75-.87 Benefit Payments .78 Insurance Premiums .79-.83 Plan Expenses .84-.87 Benefit Obligations .88-.124 Claims .91-.98 Premiums Due Under Insurance Arrangements .99-.101 Accumulated Eligibility Credits .102-.103 Postemployment Benefits .104-.110 contiPostretirement Benefit Obligations .111-.124 Changes in Benefit Obligations .125-.126 Financial Statement Disclosures .127-.144 Fair Value Measurements .133 Derivatives and Hedging .134-.138 Financial Instruments .139-.140 Risks and Uncertainties .141-.144 Plan Transfers (Plan Mergers, Spin-Offs, and Other Transfers) .145-.146 Going Concern .147 Terminating Plans .148-.157 Terminating Trusts .158-.159 Tax Considerations .160-.165 Changes in Service Providers .166 Auditing Considerations for H&W Plans .167-.234 Determining Audit Strategy 171-.174 Confidentiality or Indemnification Agreements .175 Cash Balances .176-.179 Investments and Related Income .180-.187 Contributions and Contributions Receivable .188-.192 Other Receivables .193-.195 Deposits With, and Receivables From, Insurance Companies and Other Service Providers .196-.198 Operating Assets .199 Accrued Liabilities .200-.202 Benefit and Claim Payments .203-.209 Insurance Premiums .210-.212 Plan Expenses .213-.216 Benefit Obligations—Defined Benefit H&W Plans .217-.228 Defined Contribution H&W Plans .229 Plan Transfers (Plan Mergers, Spin-Offs, and Other Plan Transfers) .230 Terminating Plans or Frozen H&W Plans .231-.233 Changes in Service Providers .234 Appendix A—The Annual Health Care Process .235 Appendix B—Examples of Health and Welfare Arrangements .236 Appendix C—Risk Assessment and Internal Control Considerations—Claim Payments .237 8 Investments .01-.174 Introduction .01-.02 Background 03-.14 Investment Activities and the Use of Service Organizations .08 The Investment Manager or Adviser .09 The Custodian .10 The Trustee (Directed and Discretionary) .11-.13 Investment Recordkeeper .14 Valuation of Investments .15-.16 Fair Value Measurement .17-.35 Definition of Fair Value .19 Definition of Readily Determinable Fair Value .20 Valuation Techniques .21-.23 The Fair Value Hierarchy .24-.25 Considerations When Determining Fair Value .26-.27 Fair Value Disclosures .28-.35 Accounting and Disclosure for Investments .36-.38 Statement of Net Assets Available for Benefits .36-.37 Statement of Changes in Net Assets Available for Benefits .38 RICs (Mutual Funds) .39 Investments in CCTs .40-.42 Master Trust Arrangements .43-.48 Other Investments .49-.52 Private Investment Funds .49 Separately Managed Accounts .50 Investments Reported as 103-12 Entities as Required by the DOL .51-.52 Contracts With Insurance Entities .53-.68 DA Contracts .60-.62 IPG Contracts .63 Other Investment Arrangements With Insurance Entities .64-.68 Derivatives and Hedging Activities .69-.79 Offsetting of Derivatives, Repurchase Agreements, and Securities Lending Transactions .76-.79 Securities Lending Arrangements .80-.84 Financial Statement Disclosures .85-.96 Insurance Contracts .86-.88 Fair Value Measurements .89 Financial Instruments .90-.91 Risks and Uncertainties .92-.93 Master Trusts .94 Derivatives and Hedging Activities .95 Securities Lending .96 Auditing Considerations for Investments .97-.174 Risk Assessment and Internal Control Considerations for Investments .98-.115 Determining Audit Strategy .116-.126 Investments and Related Income .127-.129 Audit Procedures for Certain Plan Investments .130-.163 Investments in Securities That Are Valued Based on the Investee’s Financial Results .164-.166 Limited-Scope Auditing Procedures .167-.174 9 Plan Tax Status .01-.31 Nondiscrimination and Other Operating Tests for Plan Qualification .12-.14 Unrelated Business Taxable Income .15-.20 Income Taxes .21-.25 Auditing Considerations .26-.31 Relevant Assertions .26 Examples of Identified Risks of What Can Go Wrong at the Relevant Assertion Level .27 Example Audit Procedures to Consider .28-.31 10 Concluding the Audit and Other Auditing Considerations .01-.40 The Form 5500 .03-.08 Reports Issued Prior to the Form 5500 Filing .07-.08 Commitments and Contingencies .09-.13 Litigation, Claims, and Assessments .11-.13 Subsequent Events .14 Evaluating the Risk of Material Misstatement Due to Fraud at or Near the End of the Audit .15 Plan Representations .16-.22 Management Representation Letter .22 Communications With Those Charged With Governance .23-.35 Significant Findings From the Audit .27-.35 Communicating Internal Control Related Matters Identified in an Audit .36-.39 DOL Access to Auditors Working Papers .40 11 The Auditor’s Report .01-.91 What This Chapter Provides .03-.05 Background .06-.17 Forming an Opinion .07-.14 Addressing the Auditor’s Report .15 Dating of the Auditor’s Report .16 Content of the Auditor’s Report .17 Supplemental Schedules Relating to ERISA and DOL Regulations (Full-Scope Audits for Nonissuers) .18-.24 Full-Scope Audit Considerations .19-.24 Unmodified Opinions—Defined Contribution Retirement Plans .25-.34 401(k) Plan (U.S. GAAP) .25 401(k) Plan—Special Purpose Framework .26-.34 Unmodified Opinions—Defined Benefit Pension Plans .35-.36 Illustration of Auditor’s Report on Financial Statements of Defined Benefit Pension Plan Assuming End-of-Year Benefit Information Date .35 Illustration of Auditor’s Report on Financial Statements of DB Plan Assuming Beginning-of-Year Benefit Information Date .36 Unmodified Opinion—Health and Welfare Benefit Plans .37 Unmodified Opinion—Reporting on the Financial Statements of a Trust .38-.39 Unmodified Opinion—Form 11-K Filings With the SEC .40-.45 Form 11-K Audit Report for Filing With the SEC .44 Form 11-K Audit Report for Filing With the DOL .45 Full-Scope Audits—Unmodified Opinions on the Financial Statements With Modifications to the Report on Supplementary Information .46-.52 Departures From, or Omission of, Supplementary Information Required by the DOL .46-.49 Omitted Information in a Schedule Required Under DOL Regulations .50 Omitted Schedule Required Under DOL Regulations .51 Qualified Report on Supplementary Information—Omitted Information .52 Prohibited Transactions .53-.56 Qualified Report—Disclosure of Material Prohibited Transaction With Party in Interest Omitted .54 Disclosure of Immaterial Prohibited Transaction With Party in Interest Omitted .55 Prohibited Transaction With Party in Interest That Is Also Considered a Related-Party Transaction .56 Limited-Scope Audits Under DOL Regulations .57-.71 Reporting on Supplemental Schedules—Limited-Scope Audit Considerations .61-.63 Standard Limited-Scope Audit Report .64 Limited-Scope Audit in Prior Year .65-.67 Limited-Scope Audit in Current Year .68-.69 Limited-Scope Audit in Current Year, Prior Year Limited-Scope Audit Performed by Other Auditors .70-.71 Change in Trustee .72 Reporting on Supplemental Schedules in a Limited-Scope Audit .73-.76 Standard Limited-Scope Audit Reports With Modifications to the Report on Supplemental Schedules .77-.79 Omitted Schedule Required Under DOL Regulations in a Limited-Scope Engagement .78 Modified Opinion on Supplemental Schedules—Omitted Information Required Under DOL Regulations in a Limited-Scope Engagement .79 Other Scope Limitations .80 Disclaimer of Opinion on Audit of Multiemployer Pension Plan Due to Scope Limitation .80 Accumulated Plan Benefits—GAAP Departures and Changes in Accounting Estimates .81-.83 Terminating Plans .84-.85 Substantial Doubt With Respect to Going Concern .86-.87 Initial Audits of Plans .88 Prior Period Financial Statements Not Audited .89-.91 Appendix A ERISA and Related Regulations B Examples of Controls C Illustrations of Financial Statements: Defined Contribution Retirement Plans D Illustrations of Financial Statements: Employee Stock Ownership Plans E Illustrations of Financial Statements: Defined Benefit Pension Plans F Illustrations of Financial Statements: Health and Welfare Benefit Plans G Consideration of Fraud in a Financial Statement Audit H Schedule of Changes Made to the Text From the Previous Edition Glossary Index of Pronouncements and Other Technical Guidance Subject Index
Founded in 1887, the American Institute of Certified Public Accountants (AICPA) represents the CPA and accounting profession nationally and globally regarding rule-making and standard-setting, and serves as an advocate before legislative bodies, public interest groups and other professional organizations. The AICPA develops standards for audits of private companies and other services by CPAs; provides educational guidance materials to its members; develops and grades the Uniform CPA Examination; and monitors and enforces compliance with the accounting profession's technical and ethical standards.The AICPA's founding established accountancy as a profession distinguished by rigorous educational requirements, high professional standards, a strict code of professional ethics, a licensing status and a commitment to serving the public interest.
NeuheitenAdhesive Joints 151,99 €
Aircraft Systems 92,99 €
Aircraft Systems 92,99 €
Organic and Molecular Electronics 71,99 €
A Practical Guide to the NEC4 Engin... 90,99 €