Course Details

Employee Benefit Plan Audit Peer Reviews

Webinar: ID# 1012278
Recorded CD
About This Course:
Firms that audit employee benefit plans must give careful attention to preparing for a peer review and anticipating the reviewer's concerns on how they handle participant data, investments, fees, contributions and other aspects. The plan audit group's reputation is at stake on these reviews.

Peer reviewers routinely find substandard risk assessment procedures, failures to test investment transactions or timely remittance of employee contributions, and other problems in reviewing benefit plan audits. The plan audit group may struggle to provide acceptable documentation of internal controls.

Experiences from veteran employee benefit plan advisors and auditors will help your firm evaluate the effectiveness of its peer review preparation and more proactively address noncompliance issues that commonly arise during the inspection.

Listen as our panel of seasoned accounting professionals offers best practices for your firm to prepare for its next employee benefits plan audit peer review.


Preparing for the peer review

  • DOL emphasis on deficiencies
  • Unique reporting requirements
  • How to structure the peer review

Issues with documentation

  • Written audit programs
  • System of quality controls
  • Inspection requirements and considerations

Areas of common errors and deficiencies

  • Common pitfalls with defined contribution plans
  • Common pitfalls with defined benefit plans

Approach to the review team


The panel will explore these and other critical topics:

  • Standards and guidance to be followed: General AICPA peer review standards and specifics such as revised EBP audit engagement checklist, Interpretation 59-1, Peer Review Alert 11-03, etc.
  • Common audit deficiencies: Areas being targeted in participant data, investments, contributions, plan obligations and elsewhere.
  • Documentation mandates: Acceptable, written audit programs and internal control documentation.
  • Proactive measures: Logical steps to take now to take care of potential non-compliance before the next peer review.

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Upon completing this seminar, you will have a better understanding of current reviewer red flags in peer reviews of employee benefit audit practices, and will be better prepared heading into your next peer review.


James Merklin, Partner, Bober Markey Fedorovich, Akron, Ohio

He is a specialist in employee benefit, ESOP and 403(b) plans, typically working with middle-market and high-growth companies in various industries. He also has extensive experience in attestation and internal controls review engagements.

Jessie Kanter, Manager, Kahn Litwin Renza &Co., Providence, R.I.

She is manager over the firm's Employee Benefit Plans Service Team and also assists with its peer reviews and internal inspections. She has more than 10 years of accounting experience, including audit and review services for privately held companies in various industries.

Credits Available

This program has been approved for 2.0 CPE hours through Strafford Publications. CPE Credit is available only for the LIVE webcast. Recorded versions do not qualify for credit.

Strafford 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.


To obtain CPE credit, attendees must participate in the live event, return an Official Record of Attendance to Strafford affirming their participation (including the CPE code announced during the program), and pay a processing fee of $35 per person.

Credit Confirmation

Strafford will mail a certificate of credit within approximately 2 weeks of receiving an attendee's completed Official Record of Attendance—provided all required conditions have been satisfied.


Handout materials and the phone number for live presentations are made available to you 1 day prior to the event via email from the presenter. Copies of the presentations are included with recorded versions.

If you order a recorded version of the webinar, CD's will be mailed out approximately 10 days after the live event. Shipping is included in the price of recorded versions.

Employee Benefit Plan Audit Peer Reviews
or via CD
Course Details
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