by David Torrillo | Apr 20, 2017 | Employee Benefit Plans, News and Press Releases, Retirement - 401(k), 403(b)
On April 20, 2017, the AICPA Auditing Standards Board issued an exposure draft, Proposed Statement on Auditing Standards (SAS), Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA. Read...
by David Torrillo | Nov 13, 2015 | Employee Benefit Plans, News and Press Releases
The DOL has begun to communicate to Plan administrators via e-mail that selecting a qualified CPA who has the expertise to perform an audit in accordance with professional auditing standards is a critical responsibility in safeguarding plan’s assets and ensuring...
by David Torrillo | May 29, 2015 | Employee Benefit Plans, News and Press Releases, Retirement - 401(k), 403(b)
As we had previously reported, the Office of the Chief Accountant (OCA), Employee Benefits Security Administration (EBSA), U.S. Department of Labor (DOL), has recently completed an assessment of the quality of audit work performed by independent qualified public...
by David Torrillo | May 3, 2015 | Employee Benefit Plans, News and Press Releases, Policy Updates
The FASB issued on May 1, 2014 Accounting Standards Update 2015-07, Fair Value Measurement (Topic 820), Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent). Read...
by David Torrillo | Jan 21, 2015 | Employee Benefit Plans, Forms and Procedures, Retirement - 401(k), 403(b)
We get this question a lot. The instructions to the Form 5500 give the technical answer. However, below is a quick summary of those requirements. Every situation is unique and for 2023 Form 5500s, the DOL just updated the rules. Read...
