This is the second of three courses in the series dedicated to helping new employee benefit plan auditors identify common audit areas and give specific examples of how to test each area.  Participants will view step by step walkthroughs of how testing is carried out in real practice and learn why certain testing procedures are necessary.  

In this course participants learn about employee and employer contributions and how to properly audit each area.  Also, we discuss the requirements for timely deposits and what to look for during your audit testing.  The detailed examples were designed to give participants knowledge and skills that can be implemented immediately and reduce the EBP learning curve.

Course Key Concepts: Audit, Limited, Scope, Employee, Benefit, Plan, EBP Audit, Disclaimer, DOL, Trust Report, Payroll, Eligibility, Compensation, Census, Contributions, Employee, Employer, Vesting.

Learning Objectives
  • Identify the key considerations to testing employee contributions.
  • Discover the different types of employer contributions and how to properly audit them.
  • Recognize the requirements of remitting contributions timely and how to carry out proper procedures.
Last updated/reviewed: August 8, 2023
4 Reviews (15 ratings)

Reviews

5
Member's Profile
Training audit tests on specific examples will always help you learn the material more accurately.

5
Anonymous Author
His lectures are very easy to follow, understand and super organized.

4
Member's Profile
This is a good intro level class for new staff accountants.

5
Anonymous Author
Good overall review of Employee Benefit Plan Audit concepts.

Prerequisites
Course Complexity: Intermediate

No advanced preparation or prerequisites are required for this course. However it is recommended to take Other EBP Audits courses by Corey Schmidt.
Introduction to Testing Employee Benefit Plan Audits - Part 1
Introduction to Testing Employee Benefit Plan Audits - Part 3

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to Testing Employee Benefit Plan Audits - Part 20:54
  Testing Employee Contributions10:56
  Correcting Contribution Errors8:37
  Testing Employer Contributions3:14
  Vesting and Forfeitures3:52
  Timely Remittance of Contributions7:58
  Key Points2:33
  Conclusion3:32
CONTINUOUS PLAY
  Introduction to Testing Employee Benefit Plan Audits - Part 241:35
SUPPORTING MATERIAL
  Slides: Introduction to Testing Employee Benefit Plan Audits - Part 2PDF
  Introduction to Testing Employee Benefit Plan Audits - Part 2 Glossary/ IndexPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam