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Course/Product Description
Title:

Employee Benefit Plan Audits: Asking the Right Questions and Avoiding Critical Errors

SKU:WC-1014742
Date / Time: Recorded
Format: Webinar
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Description:

This webinar provides employee benefits auditors with best practices to prevent most of the serious and costly (but all too common) errors in benefit plan audits.

The panel will explain the pitfalls that practitioners often encounter in these audits and outline how to address these issues based on real-world experiences.

Description

Proficiency in auditing benefit plans requires staying on top of the IRS’ and DOL’s ever-changing rules and regulations. An employee benefit plan with more than 100 eligible participants must file audited financials along with Form 5500, which are closely scrutinized during DOL audits.

An employee benefit plan audit is more than substantiating financial statements. Auditors must also be prepared to address plan operations, including an assessment of whether the plan is operating according to the plan document, any plan amendments, and all applicable IRS and DOL rules during the period audited.

Our skilled panel of benefit plan auditors and related advisors, all well versed and experienced with benefit plan audits, will provide guidance on preparing for and getting through audits. The panel will also explain what practitioners can do now to avoid costly mistakes or take action to correct prior plan errors before an audit.

Listen as our panelists offer best practices and insights based on real-world experience for avoiding common high risk mistakes associated with benefit plan audits. The panel will also outline approaches to identify and correct plan errors before an audit or after a filing.

Outline

  • Relevant forms and regulations
    • Form 5500
    • 403(b) plan rule issues
    • 408(b)(2) disclosures
  • Challenges to anticipate
    • Common plan operation errors
    • Denied Form 5500
  • Potential fixes for errors
  • Best practices for audit preparation
    • Benefit plan audit experiences
    Benefits
    The panel will review these and other key issues:
    • Understanding the areas of highest risk in benefit plan audits.
    • Identifying and avoiding the most common mistakes in benefit plan audits.
    • Implementing expedient solutions to the most common plan or filing mistakes after the fact.
    • Pinpointing Form 5500 red flags for the IRS and DOL.
    Learning Objectives

    Upon completing this seminar, you will have a much deeper familiarity with high risk but common mistakes made in completing benefit plan audits. You will have new approaches and insights to utilize in order to address plan operational errors before they cause problems in an audit and how to correct past errors. You will understand areas of highest risk in benefit plan audits, be able to identify and avoid the most common mistakes in benefit plan audits, implement expedient solutions to the most common plan or filing mistakes after the fact, and pinpoint Form 5500 red flags for the IRS and DOL.

    Faculty

    Danielle J. Kimmell, Partner
    Bober Markey Fedorovich, Akron, Ohio

    With more than 15 years of public accounting experience, Ms. Kimmell focuses on serving large, middle-market, privately held companies in a variety of industries including manufacturing and distribution. She also has significant experience in the area of employee benefit plans, as well as consulting on issues arising in middle-market business settings, including audit, compliance and tax issues.

    Cindy H. Mitchell, Senior Manager
    Bober Markey Fedorovich, Akron, Ohio

    Ms. Mitchell has more than 18 years of individual tax experience working with high net worth clients and executive groups. Services include helping develop complex tax strategies, providing tax and financial advisory assistance, accounting and payroll. Additionally, Ms. Mitchell regularly advises clients on a host of employee benefit tax matters, including preparation of annual returns, compliance and research.

    Cannot Attend The Live Presentation?

    This presentation is also available in a recorded format, in CD version, as shown in the pricing options below.

About Webcasts / Audio Conferences / Podcasts:

Webcasts, audio conferences, and podcasts are presentations that you attend via the Internet, phone, or mobile device at a specified date and time for "live" versions, or at your convenience for "recorded" and "On-Demand" versions.

The live versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back at work immediately after the session ends!

And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous times and to share it with others in your office.

Handout materials and the phone number for live presentations are made available to you prior to the event via email from the presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.

Licenses / Designations / Educational Credits:CPE
All US States: 1.5
About The Provider: Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417 or by visiting their website.

Strafford webinars and teleconferences offer an excellent opportunity to train your entire staff—with no lost travel time or expenses. They are extremely cost-effective—allowing an unlimited number of people at your location to listen from a single line at no additional charge.

Each live seminar features presentations by a panel of nationally recognized authorities, followed by an interactive Q&A session. Presentation materials can be viewed online or printed out. Audio can be accessed via the web or a telephone.
More Info: Contact Us For More Information
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