Effective Dates of SASs No. 134-140 Delayed
Tuesday, April, 21, 2020
As expected, the effective dates of seven private company auditing standards, including SAS No. 136, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA , were delayed for one year as the result of a vote by the AICPA Auditing Standards Board (ASB). Read More
- Published in Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
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Filing Relief for Form 5500 Filings Due Before July 15, 2020
Friday, April, 10, 2020
Per the AICPA Employee Benefit Plan Audit Quality Center, the IRS issued Notice 2020-23 which provides additional filing relief for taxpayers affected by the ongoing Coronavirus pandemic. The IRS filing relief includes Form 5500, Annual Return/Report of Employee Benefit Plan , due to be filed (originally or pursuant to a valid extension) on or after
Auditing Standards Board Voting to Defer New Auditing Standards
Friday, April, 10, 2020
The AICPA Auditing Standards Board will be holding a special open meeting on April 20 to discuss and vote on balloting for issuance of a final standard that would defer the effective date of Statements on Auditing Standards (SAS) Nos. Read More
Benefit Plan Provisions of CARES Act
Friday, March, 27, 2020
The Coronavirus Aid, Relief and Economic Security Act (CARES ACT, H.R. 748) has been signed into law. It provides economic relief to individuals, businesses, hospitals and other entities. While plan sponsors should consider consulting ERISA counsel or their third-party administrators before making any plan decisions or changes, key benefit plan provisions include: No 10% additional