MNCPA Audits of Employee Benefit Plans (Conference)  (AEB-CONF)

8.00 CPE Credit Hours

Tackle employee benefit plans with confidence at the MNCPA Audits of Employee Benefit Plans Conference. Dive into case studies on audit pitfalls to avoid common mistakes and apply practical solutions. Gain a deeper understanding of ESOPs and how they differ from typical 401(k) audits. Learn about the various types of audits and identify the tripping points to navigate challenges effectively.

Designed For

CPAs, auditors and other financial professionals who are responsible for auditing employee benefit plans

Objective

• Get up to date on current audit rules and regulations
• Learn how to increase the efficiency of your audits
• Understand how to identify and solve plan issues
  
  

Highlights

8:00–9:20 a.m.  
A1. Department of Labor Update
Jennifer Keim
Stay ahead of the evolving regulatory landscape with a direct look into current activities within the Department of Labor’s Office of the Chief Accountant. Gain practical insight into how ongoing initiatives may influence your upcoming audit season and what steps you can take to ensure compliance. Explore the most common audit deficiencies and learn how to strengthen audit quality while better supporting clients who receive enforcement correspondence. Walk away with timely, actionable guidance straight from the DOL to enhance your effectiveness as an EBP auditor.

9:35–10:25 a.m. 
B1. Common Plan Errors and Current Correction Guidance
Deb Linder, Marjorie Heap
Explore the latest IRS and DOL guidance shaping today’s retirement plan correction landscape. Gain clarity on how common plan administration errors occur, how they’re typically identified and the compliant options available for resolving them. You’ll walk away with a stronger understanding of correction pathways and greater confidence in guiding clients and evaluating plan issues.

10:40–11:55 a.m. 
C1. Best Practices and Efficiencies in ERISA Audits
Randy Dummer
Elevate audit quality while improving efficiency by exploring proven practices used in successful ERISA engagements. Learn what peer reviewers consistently look for, where firms commonly stumble and how to streamline work without increasing risk. Through a reviewer’s lens, uncover practical steps that strengthen documentation, support compliance and reduce the likelihood of issues in your next peer review. Walk away with strategies you can implement immediately to enhance both quality and workflow.

12:40–1:30 p.m. 
D1. Navigating 403(b) Plans: From Basics to Compliance Realities
Maria Schwingler
403(b) plans may look familiar, but their ERISA status, operational nuances and compliance rules can create unexpected risk for sponsors and practitioners. Explore how these plans evolved, what truly distinguishes them from 401(k)s and where real world compliance pressure points tend to emerge. Gain a clearer framework for evaluating ERISA vs. non ERISA status and spotting common plan design and administration issues. Walk away with practical insight to strengthen audit, governance and regulatory readiness.

1:45–3:00 p.m. 
E1. Audit Foundations for Benefit Plans: Controls, Risk and SOC 1 Understanding
Rachel Rafik, Erin Griswold
Build a strong foundation in the core elements that drive high quality employee benefit plan audits. Explore how internal controls, thoughtful risk assessment and SOC 1 reporting work together to support clearer documentation, better judgment and more reliable audit conclusions. Gain practical insight that helps staff move beyond basic checklists and develop confidence in evaluating processes and identifying real risks. Leave with a clearer framework you can apply immediately to strengthen audit quality.

3:15–4:30 p.m. 
F1. Panel Discussion: Ask the Experts
Marjorie Heap, Rachel Rafik, Randy Dummer, Jennifer Keim
Experts share their insights on the latest developments, common pitfalls and best practices in auditing employee benefit plans. Gain practical strategies for addressing regulatory updates, improving audit quality and mitigating risk. Whether you’re an experienced auditor or new to the field, gain valuable perspectives to help you stay ahead in an ever-changing landscape

Prerequisites

None

Advanced Preparation

None

Developer
Minnesota Society of CPAs

Presenters
Marjorie Heap,
Jennifer Keim,

Level of Knowledge
Update