Audit Risk Alert: Employee Benefit Plans Industry Developments, 2019

The increasing complexity of employee benefit plan auditing and focus by the Department of Labor have resulted in significant pressure for CPAs and firms performing EBP audits. To help CPAs meet the challenge of performing quality audits in this unique and complex area, the AICPA has developed this alert to assist in identifying current sources of risk within EBP audit engagements.

Written by a task force consisting of current and former employee benefit plan expert panel members, this alert features discussions on new developments and issues that auditors may face in their current audits, as well as a look at what's in the pipeline that may affect your engagements.

Updates in 2019:

• FASB ASU No. 2017-06, Employee Benefit Plan Master Trust Reporting
• FASB ASU No. 2018-09, Codification Improvements
• FASB ASU No. 2018-13, Fair Value Measurement (Topic 820), Disclosure Framework–Changes to the
• Disclosure Requirements for Fair Value Measurement