Total Credits: 8 including 7 Auditing- Technical, 1 Specialized Knowledge - Technical
Ask questions and garner information from the Department of Labor and an expert panel as further detail on employee benefit plan auditing rule changes becomes known during the coming year.
What’s Next: A DOL Debrief
Grab a front seat as the Department of Labor’s chief accountant, Michael Auerbach, returns to our forum. With the latest insights coming from the Department, Auerbach outlines steps that are being taken to assist auditors and address audit deficiencies.
Michael E. Auerbach, CPA – Chief Accountant, U.S. Department of Labor, Washington, DC
Peering into An EBP Audit
Stay updated on the latest changes to peer review and its impact on the audit process. Protect yourself by understanding the proper audit documentation of procedures that were performed. Understand the new risk assessment issues and what is required as well as the unique aspects of an EBP peer review.
Marilee Lau, CPA – Retired Partner, KPMG LLP
The Beginning to End: Mergers and Terminations
A client’s business is coming to an end or two companies are merging into one to expand their reach. Avoid any surprises and smooth the transition by putting a comprehensive plan in place. We provide best practices covering a range of topics from liquidation accounting to triggers of a partial plan termination and more.
Thomas L. Shaevsky, JD – Shareholder, Butzel Long, Bloomfield Hills
ADDITIONAL SPEAKER TO BE ANNOUNCED
To Rely or not to Rely: SOC 1 TYPE 2 REPORTS
A service client (such as a payroll processing entity) seeking to verify the effectiveness of internal control operations with a Type 2 Service Organization Control (SOC) 1 report presents a question for audit. Can it be relied upon or should the contents be analyzed? Learn the minimum procedures for an impactful analysis while accessing information on standard processes larger firms utilize and determine when not to rely on this type of reporting for your service clients.
Carla A. Grant, CPA – Shareholder, Hungerford Nichols CPAs + Advisors, Grand Rapids
An Updated Look on Auditing Standards for Employee Benefit Plan Audits
Ensure that you are ready to properly put into practice recent accounting and auditing updates. Discuss the new Statement on Auditing Standards, forming an opinion with a closer look at new limited scope opinions and reporting on financial statements subject to ERISA as well as their
effects on employee benefit plan audits.
Lindy J. Beldyga, CPA – Senior Manager, Plante Moran, PLLC, Flint
Jayme Moerdkye, CPA – Manager, Plante Moran, PLLC, Southfield
Investments in Full vs. Limited Scope Audits
In 2018 venture capitalists alone invested $99.5 billion in US companies, a number that hasn’t been seen since the dot com era. Given this growth indicator and the broadening range of investment options in an EBP, investigate the essentials of auditing these basic or hard-to-value instruments. Reinforce the skills in accounting and reporting for investments in full scope audits or those not covered by certification in a limited scope audit.
SPEAKER TO BE ANNOUNCED
Ask the Experts EOD Roundup
While the day has been devoted to changes in the world of employee benefit plan audits, addressing a wide range of reporting and performance requirements and downloading masses of information- let’s end with your questions. Our experts debrief with you and answer any pending questions that have accumulated during the day.
Michael E. Auerbach, CPA – Chief Accountant, U.S. Department of Labor, Washington, DC
Kimber L. Smail-Benedict, CPA – Partner, Plante Moran, PLLC, Flint
Tara Frank, CPA – Principal, Rehmann, Saginaw
Moderator: Paul P. Walter, CPA - Managing Partner, Walter, Boesky & Associates, PC, Southfield
|Important CPE Credit Information_READ BEFORE WEBCAST UPDATED (0.47 MB)||Available after Purchase|
|Course Manual_Audit of Employee Benefit Plans (4.9 MB)||Available after Purchase|
|Agenda (510 KB)||Available after Purchase|
As the Chief, Division of Accounting Services, Employee Benefits Security Administration, Mr. Auerbach's responsibilities include providing ERISA related accounting and auditing technical expertise within the Employee Benefits Security Administration. He is also the liaison with the American Institute of Certified Public Accountants (AICPA), the Financial Accounting Standards Board (FASB) and other professional organizations. Mr. Auerbach is a certified public accountant and earned his B.S. in accounting from the University of Maryland.
Marilee Lau provides consulting services to firms specializing in employee benefit plans which include practice and in-house engagement reviews. She also presents and teaches various educational programs on accounting and auditing for employee benefit plans. Before retiring in 2009, Marilee was the National Partner in Charge of KPMG’s Employee Benefit Plan Audit Practice.
She is a founding member and a former Chair of the AICPA Employee Benefit Plan Audit Quality Center’s Executive Committee which was established in 2004. Marilee was the 2011-2013 AICPA’s representative to the DOL’s ERISA Advisory Council. She has served on the AICPA’s Employee Benefits Plans Experts Panel and was the chair of the EBP Audit Guide Overhaul Task Force. She assisted the AICPA in writing the ESOP chapter for the EBP Guide as well as the pension chapters for the State and Local Government Guide. Currently she is heading the task force to write the Multiemployer chapter and is a subject matter expert performing peer review oversights of EBP plans.
Marilee is a former member of the Advisory Board for the Bureau of National Affairs Pension & Benefits Reporter which provided input on various pension issues and has served on the Accountants Committee for the International Foundation of Employee Benefit Plans.
She is a member of the AICPA, California Society of CPA’s, and the International Foundation of Employee Benefit Plans and a frequent speaker for numerous professional conferences and programs. She is a graduate of Santa Clara University with a BS in economics and an MBA in accounting.
Thomas L. Shaevsky is a shareholder based in Butzel Long’s Bloomfield Hills office. He is a graduate of the University of Michigan Law School (J.D., 1992, magna cum laude, The Order of the Coif; Michigan Law Review: Contributing Editor), and the University of Michigan (B.A., with high distinction, Angell Scholar, 1989). Immediately following law school graduation, Mr. Shaevsky served as a law clerk to the Honorable John Feikens of the United States District Court for the Eastern District of Michigan.
Mr. Shaevsky practices in the area of employee benefits and he has been selected by his peers for inclusion in The Best Lawyers in America (Employee Benefits Law). He advises large multinational corporations, physicians and other professional practices, hospitals and other nonprofit employers, as well as individuals, on compliance and planning issues pertaining to a wide range of retirement, pension, and welfare plan issues. His experience includes counseling on fiduciary duty compliance, prohibited transaction avoidance and correction, reporting and disclosure issues, mergers and acquisitions due diligence, QDROs, as well as COBRA, HIPAA, and other benefits issues. Mr. Shaevsky represents clients undergoing IRS and U.S. Department of Labor audits.
Mr. Shaevsky is the Chair of the Employee Benefits Committee of the Taxation Section of the State Bar of Michigan. He is the immediate past Chair of the Employee Benefits Committee of the Oakland County Bar Association and a past member of the Board of Directors of the Michigan Employee Benefits Conference (2008-2009). He served as an appointed member of the West Bloomfield Township Wetland Review Board (2007-2009). Mr. Shaevsky is also a member of the American Bar Association (taxation section).
Prior to joining Butzel Long, Mr. Shaevsky was engaged as in-house counsel to Comerica Bank’s Institutional Trust Department, counseling and advising business owners and managers with regard to retirement plan issues and general compliance issues. He has assisted with the formulation of a multitude of business decisions and policies.
Mr. Shaevsky has counseled charter schools on a variety of educational and governmental compliance issues. He also has experience counseling public entities on Open Meetings Act, Freedom of Information Act, and conflict of interest issues.
Carla provides employee benefit plan (EBP) audit services to clients of a variety of sizes, from just one employee to tens of thousands. She also provides consulting services in ERISA compliance, plan design and administrative issues. Her focus is to keep her clients “out of trouble” by helping them to navigate the ever-changing regulatory environment. She has been recognized as a West Michigan expert in her specialization and is a sought-after presenter for conferences and meetings.
Carla joined the Hungerford Nichols team in 1985 and was named the firm’s first part-time Shareholder in 2001. She is a lifetime Michigan resident, received her Bachelor of Science in Business Administration from Michigan Technological University in 1985, and earned her CPA certification in Michigan in 1987. In 2016, Carla was honored for her success in business by being named one of the Grand Rapids Business Journal’s “50 Most Influential Women in West Michigan”. She is the past Chair of the EBP Task Force of the Michigan Association of CPAs, and actively participates in the IRS’ Great Lakes TE/GE council and the Human Resources Group of West Michigan.
Lindy has over eight years of experience in the areas of auditing, accounting, and consulting for a wide variety of not-for-profit organizations, employee benefit plans and healthcare clients throughout the state of Michigan. Lindy’s recent experience includes: performance of compliance audits of federally funded programs; assistance with implementing of significant new accounting and risk assessment standards, SAS 104-114; assistance with review of operations and internal controls for various entities; and dealing with current issues surrounding client remarketing of variable interest rate bonds.
She is a member of: American Institute of Certified Public Accountants; Michigan Association of Certified Public Accountants; and Healthcare Financial Management Association.
Jayme has over 14 years of experience managing audit services for employee benefit plans. She is one of the Firm-wide technical leaders on benefit plan accounting and reporting matters and performs firm-wide pre issuance quality control reviews on employee benefit plan financial statements. She is involved with content development and presentation of the Firm’s employee benefit plan technical trainings and updates. Jayme is a member of the Michigan Association of Certified Public Accountants’ (MICPA) Employee Benefit Plan Audit Task Force.
Kimber Smail-Benedict is a partner in the assurance practice at Plante & Moran, PLLC. Kimber has over 20 years of experience in her practice specialization of audits of employee benefit plans. Her responsibilities include overseeing audit and tax related assignments for defined contribution plans, including 11-K filings, defined benefit plans, and health and welfare plans. Kimber is a firm-wide technical leader in employee benefit plan accounting and reporting matters. She is responsible for Plante Moran’s annual benefit plan technical training and related update sessions. She is also involved in the development Plante Moran’s employee benefit plan financial audit approach.
Kimber holds a B.A. in accounting from Eastern Michigan University and is a frequent speaker at industry conferences on employee benefit plans. She is also a past member of the AICPA Employee Benefit Plan Expert Panel.
Tara leads Rehmann’s employee benefit plan assurance practice, which includes more than 215 employee benefit plan audits. She conducts employee benefit plan assurance trainings throughout the Firm and at the state society level. She also assists with Firm quality control inspections for employee benefit plan audits.
In an advisory role, Tara performs assurance engagements, including financial statement audits, reviews and compilations for closely-held and other for-profit entities. She is a member of Rehmann’s women’s career advocacy program and women’s initiative network.
Tara leads the Michigan Association of CPAs’ employee benefit plan task force. She has conducted training courses for and been a featured speaker at numerous group events. A mentor to associates throughout the Firm, Tara sponsors Rehmann’s emerging leaders and STEP programs. Tara is a graduate of Leadership Saginaw, a personal and community leadership development program. Tara is the treasurer for the Children’s Zoo at Celebration Square and Peace Lutheran School and Church. She is a board member for the Valley Lutheran High School Foundation.
Paul Walter is a graduate of Michigan State University and also holds a master’s degree from Wayne State University. He is a practicing CPA since 1986, commencing with Deloitte, Haskin + Sells. He has been managing partner of Walter, Boesky & Associates, P.C. since 1992, a full-service accounting firm specializing in audits of employee benefit plans and not-for-profit organizations.
Paul is a member of both the AICPA and MACPA. He has been an active member of the MACPA Employee Benefits Committee for more than 20 years and is also a past chairman of the committee. He is a frequent speaker about employee benefit plans and their audit requirements. He has also been named in Hour Magazine’s “Best of Detroit” for his work in the Employee Benefits and Wealth Management area. Paul is a proud father of four children and resides in Huntington Woods, MI.
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