The AICPA Employee Benefit Plan Audit Quality Center just released its sixth Plan Advisory, EBPAQC-Importance-of-Hiring-Plan-Advisory, which is intended to provide plan sponsors, plan administrators, and trustees with an understanding of the importance of hiring a quality auditor to perform their employee benefit plan financial statement audit, and information to help them select a quality auditor. The advisory describes why a financial statement audit is important; consequences if a quality audit is not performed; consideration of auditor qualifications; the proposal process, including the request for proposal, proposal evaluation, and auditor selection; and documenting the agreement. To learn more, please click on the attachment.
