The MNCPA Audits of Employee Benefits Conference provides the practical, up-to-date information you need to deliver efficient and effective audits for your clients.
During this virtual conference, you’ll discover new ways to anticipate challenges and maintain compliance, hear directly from the Department of Labor, learn from industry experts and meet your CPE requirements.
- Department of Labor Update
- Peer Review: Real-Life Issues Identified in Peer Review
- The Most Common Retirement Plan Mistakes and How to Fix Them
- Auditing in a Virtual Environment: Tips and Tricks
- Planning for Employee Benefit Plan Audits: 2021 and Beyond
- Panel Discussion: Ask the Experts
DAY ONE: MONDAY, MAY 17
A1. Department of Labor Update
Lynne McMennamin, CPA, U.S. Department of Labor, Washington, DC
Want to know what’s happening in the Office of the Chief Accountant? Hear the latest and learn how it applies to your work. Find out how SAS 136 has changed the 2020 Form 5500 and how those filings affect EBP audits. Dissect common reporting deficiencies, help your clients achieve and maintain ERISA compliance and receive a satisfactory audit rating.
B1. Peer Review: Real-Life Issues Identified in Peer Review
Randy Dummer, CPA, Henderson, Hutcherson & McCullough PLLC, Chattanooga, TN
Peer review is an essential part of the audit process, and findings can have a big impact on how you perform future audits. Focus on key issues and learn about actual items found in recent peer reviews. Explore the current checklist with emphasis on the bold questions. Discussion will cover risk assessment, investments, audit testing and financial statement disclosures.
C1. The Most Common Retirement Plan Mistakes and How to Fix Them
Thomas Walker, JD, Winthrop & Weinstine, Minneapolis, MN
With the complexity of plan terms, the multitude of legal requirements and the potential inexperience of personnel, retirement plan mistakes are bound to happen. Review the most common errors, learn about IRS and DOL programs for correcting most mistakes and get practical suggestions for preventing them from occurring again.
DAY TWO: TUESDAY, MAY 18
D1. Auditing in a Virtual Environment: Tips and Tricks
Melissa G. Critcher, CPA, Waxhow, NC
Current events have made employee benefit plan audits more challenging than ever. Audit considerations now include understanding the plan entity, its electronic environment and additional fraud risks. Hear best practices for navigating and completing a plan audit in a virtual environment. Reevaluate existing approaches to auditing and improve your effectiveness and efficiency.
E1. Planning for Employee Benefit Plan Audits: 2021 and Beyond
Eileen Brassil, CPA, CFE, Legacy Professionals LLP, Westchester, IL
As you prepare for the 2021 audit season and beyond, you need to know about changes to accounting, reporting and auditing standards taking effect soon. Newly enacted legislation and the COVID-19 pandemic continue to impact employee benefit plan provisions and operations. Find out what you need to know now to prepare your firm and your clients for the changes.
F1. Panel Discussion: Ask the Experts
Moderator: Marjorie Heap, CPA, Peterson Whitaker & Bjork, LLC, Maple Grove, MN
Panelists: Melissa G. Critcher, CPA, Waxhow, NC | Lynne McMennamin, CPA, U.S. Department of Labor, Washington, DC | Thomas Walker, JD, Winthrop & Weinstine, Minneapolis, MN
The introduction of a virtual environment, new legislation and plenty of uncertainty make this year’s audit season uncharted territory. Navigate your new reality with help from industry experts. Take advantage of this interactive session and ask your most pressing questions. Get practical insights on best practices, reporting, common issues and more.