2015 Employee Benefit Plans Annual Audit Conference April 30, 2015 Universal City and Webcast
CONFERENCE OVERVIEW
Overview: Employee benefit plans are complex. Auditors need to know more and more about growing regulatory and reporting and disclosure requirements. Audit deficiencies are more common than firms care to see, and the risk of plan failures or fraud is always present.
AGENDA {AT-A-GLANCE} 08:30
Welcome
08:35
Department of Labor Update
09:20
The Regulators Are Watching
10:05
The Alphabet Soup of Investments
10:35
Break
10:45
The Alphabet Soup of Investments (continued)
11:45
Lunch (Plated lunch provided)
12:45
It’s Not “That” Unusual
01:35
Raising the Bar: Frequent Violations of Professional Standards
Designed for: CPAs who perform employee benefit plan audits including staff to partner levels, and financial professionals who specialize in accounting and auditing of employee benefit plans.
02:35
Break
02:45
Don’t Do This: Do That!
03:45
Tax Talk for Auditors
Credit Information: CPE Hours: 8 AA Hours: 8
04:45
Adjourn
The 2015 Employee Benefit Plans Annual Audit Conference will provide you with the guidance you need to know—when you need to know it, which is when you’re planning your benefit plan audits. Learn about recent regulatory updates coming from the Department of Labor and the Internal Revenue Service. Last but not least, you will be updated on auditing and accounting standards and useful tools to help you maintain your edge and deliver what your clients expect—timely advice and a sound quality audit.
2015 EMPLOYEE BENEFIT PLANS ANNUAL AUDIT CONFERENCE UNIVERSAL CITY HILTON UNIVERSAL CITY & WEBCAST APRIL 30, 2015
Conference Planning Committee Bertha Minnihan, CPA Conference Chair Moss Adams LLP Troy M. Atkinson, CPA Hemming Morse LLP Darlene Bayardo, CPA BDO USA LLP
William T. Botzum, CPA JGD & Associates LLP
Ryan Koch, CPA Moss Adams LLP
Maya S. Ivanova, CPA, MBA Wilson Ivanova CPAs Inc. APAC
Daniel B. Landes, CPA Green Hasson Janks
Jill C. Kitchin, CPA, MBA Hood & Strong LLP
Danhira B. Millan, CPA Barbich Hooper King Dill Hoffman
Gregory E. Klein, CPA Miller Kaplan Arase LLP
Jenifer Siou, CPA, CFE NSBN LLP Mark Wirth, CPA McGladrey LLP
Special thanks to our Gold sponsor Burr Pilger Mayer Inc. bpmcpa.com
Special thanks to our Silver sponsor Moss Adams LLP mossadams.com
08:30
Welcome
12:45
Bertha Minnihan, CPA Conference Chair Moss Adams LLP 08:35
• Limited vs. full scope audits vs. Form 11-K • 403(b) • Terminated vs. frozen vs. merged plans • Change in providers • Revenue sharing • First year audits • Successor auditor Marilee Lau, CPA Retired Partner, KPMG LLP
Department of Labor Update Ian Dingwall, CPA Chief Accountant U.S. Department of Labor Employee Benefits Security Administration
09:20
The Regulators Are Watching • • • • •
Top three issues regulators see Differences between agencies Agency areas of focus Process after selection Audit of plan
01:35
10:05
02:35
Break
02:45
Don’t Do This: Do That! • Definition of compensation • Late remittances • Eligibility • Party in interest • Prohibited transactions • Distribution issues Jill C. Kitchin, CPA, MBA Hood & Strong LLP Kevin E. Nolt, Esq. Trucker Huss
The Alphabet Soup of Investments • How to identify types of investments - Common/Collective Trust (CCT) - Pooled Separate Accounts (PSA) - Hedge Funds - Guaranteed Investment Certificates (GIC) - Mutual funds - Hard to value • Reporting and disclosure • Process Dena Herbolich, CPA Moss Adams LLP Ryan Koch, CPA Moss Adams LLP
10:35
Break
10:45
The Alphabet Soup of Investments (continued)
11:45
Lunch (Plated lunch provided)
Raising the Bar: Frequent Violations of Professional Standards • Misrepresentation of firm’s practice • Financial statement deficiencies • Inadequate documentation • Over-reliance on SOC 1 report • Inadequate auditor’s reports • Enhancing audit quality Darlene Bayardo, CPA BDO USA LLP Mark Wirth, CPA McGladrey LLP
Moderator: Marilee Lau, CPA Retired Partner, KPMG LLP Panelists: Ian Dingwall, CPA Chief Accountant U.S. Department of Labor Employee Benefits Security Administration Miguel Paredes, CIA Supervisory Investigator U.S. Department of Labor Employee Benefits Security Administration James D. Szollosi Employee Plans Group Manager Internal Revenue Service
It’s Not “That” Unusual
03:45
Tax Talk for Auditors • Compliance testing • Form 5500 review and reconciliation by auditors • ERISA supplemental schedules • Audit efficiencies in testing William T. Botzum, CPA JGD & Associates LLP Marilyn Ryding, APA, AIF Marilyn Ryding Retirement Plan Consulting Mark Wirth, CPA McGladrey LLP
04:45
Adjourn
SESSION DETAILS
REGISTER ONLINE www.calcpa.org Conference Registration April 30, 2015 | Burbank Area | 5142784A Member $325 l Nonmember $425 l VP $0 l Coupon $0 Webcast Registration April 30, 2015 | Webcast | 5142784B Member $325 l Nonmember $425 l VP $0 l Coupon $0 Discount Programs Save hundreds with Value-Priced Education (VPE) and Coupons. VPE 80 VPE 40 VPE 24 Coupon 10
$1,295 CalCPA Member $795 CalCPA Member $675 CalCPA Member $2,495 CalCPA Member
Learn more about discount programs (800) 922-5272 or www.calcpa.org/discount. Contact CalCPA Education Foundation P.O. Box 45066 San Francisco, CA 94145-0066 (800) 922-5272 Fax (888) 868-8538 calcpa.org Materials for this conference are provided in PDF format. Three business days before the conference, they will be accessible via calcpa.org/MyEvents.
Registration Policy All registrations are taken on a first-come, firstserved basis. The CalCPA Education Foundation reserves the right to refuse admission to any individual whose behavior it deems inappropriate. Cancellation Policy If you need to cancel your registration, you must cancel four business days prior to the event to receive a full refund. After that time a refund will be given less a $125 cancellation fee. No refunds will be given for no-shows. VPE no-shows will have the number of registered CPE hours deducted from their VPE credit. Coupon no-shows will forfeit the coupon used to register. For registration policies please go to calcpa. org/policies. Note: Topics and speakers are subject to change. For up-to-date information, please go to calcpa.org. CalCPA Education Foundation 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 www.learningmarket.org.