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Webinar Troubleshooting Tips

Webinar Troubleshooting Tips. To prepare for this webinar: Ensure that your computer speakers are turned on and turned up. Check to ensure that audio streaming is enabled on your computer. If the presentation slides stop advancing during the presentation, you should:

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Webinar Troubleshooting Tips

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  1. Webinar Troubleshooting Tips • To prepare for this webinar: • Ensure that your computer speakers are turned on and turned up. • Check to ensure that audio streaming is enabled on your computer. • If the presentation slides stop advancing during the presentation, you should: • Using the red “Exit” button located to the right of the main screen, please close out of the presentation and re-launch the webcast. • If you are still having audio or other technical difficulty… • Check with your IT personnel at your firm, or • Inform LearnLiveby sending a message via the webinar question box or to support@learnlive.com.

  2. EBPAQC Tools and Resources: Getting the Most from Your Membership November 30, 2011

  3. CPE Credit For Today’s Webinar • Must have registered for CPE credit prior to this live forum webinar event • Participation markers will appear on your screen approximately every fifteen minutes during the event. • Click the "OK" button on the pop up marker to evidence your participation in the event. You are required to participate in a minimum of 75% of these markers. • Note: Center web events will no longer use CPE codes. • Upon completion of the webinar, a CPE Certificate will be placed in your account on www.cpa2biz.com, which you will have access to for up to six years. • If you have any questions regarding CPE, please contact service@aicpa.org

  4. Panelists • Robert Lavenberg, CPA Heidi LaMarca, CPA • BDO USA LLP Windham Brannon PC William Seymour, CPA SB & Company, LLC

  5. Objectives • Learn how the Center tools and resources can support your audit practice • Explore the Center website, your online community and resource center • See what additional resources the Center provides

  6. EBPAQC Resources and Tools • EAlerts • Live Forum Webinars • Member-to-Member Discussion Forum • Accounting and Auditing Resource Centers • Topix Primers • Plan Advisories • Other resources, tools and benefits

  7. EAlerts • Timely news on current regulatory and professional activities affecting benefit plans • Sent to Center Designated Partner and Administrative Contact • Archived on EBPAQC website

  8. EAlerts- Recent Topics • EBPAQC Resources • DOL Resources • A&A Technical Hotline support • EBPAQC testimony • Member-to-member Forum Contest • Revised Plan Advisory on Investments Available • FASB Approved Expanded Employer Disclosures for Multiemployer Pension Plans

  9. EAlerts- Best Practices • Save in email folders (e.g.- EBPAQC EAlerts folder) • Share with all EBP staff in the firm by forwarding the EAlerts • Share important news and information with clients • Use webinar announcements to invite staff to participate

  10. Live Forum Webinars • Webinar events • Very well-attended • CPE option • Audios and slides archived on Center website (not available for CPE)

  11. Live Forum Webinars- Recent and Future • Recent webinars • 401(k) Basics Series • 401(k) Plan Tax and Compliance Issues for Auditors • Future webinars • January 18- Designated Partner Audit Planning • March 14- Form 11-K • April/May - Defined Contribution Audits Intro Level 3 Part Webinar Series • April 18- Managers and In-Charge Audit Planning • July 17- Insurance Products for EBPs

  12. Live Forum Webinars- Best Practices • Easy way to provide staff with EBP-specific CPE • Invite all EBP staff to participate by forwarding registration EAlerts • Can use for group training in same office • Listen to missed webinars via audio archive on Center website (also for new members!) • Have new staff review list of archived webinars for topics of interest to them

  13. EBPAQC “Topix” Primers • Basic Information about EBP Specific Topics • Intended to Provide Readers with a General Understanding of Various Issues

  14. Primer Topics • The Center has issued 8 primers to date • Parties In Interest/Prohibited T/A • Bank Collective Investment Funds • 403(b) Plans • Limited Scope Audits • Alternative Investments • Stable Value Funds • Cash Balance Plans • Medicare Subsidies

  15. Topix Primers- Best Practices • Incorporate into staff training programs • Distribute to staff members prior to EBP engagements

  16. Plan Advisories • Designed to help plan sponsors understand their responsibilities

  17. Plan Advisories • The Center has issued 4 plan advisories • Effective Monitoring of Outsourced Plan Recordkeeping and Reporting Functions • The Importance of Internal Controls in Financial Reporting and Safeguarding Plan Assets • Valuing and Reporting Plan Investments • Understanding Auditor Communications

  18. Plan Advisories-Best Practices • Print in booklet format with firm name/logo for distribution to clients and prospective clients • Discuss with clients in planning meetings • Email to clients with SAS No. 115 letters • Share with staff to help them understand the client’s responsibilities

  19. SAS 70 Tool • Prepared to assist members in • Documenting reviews of SAS 70 reports • Summarizing procedures and findings related to controls at a service organization relevant to your plan audits • Revised in 2011 • Will be revised again to reflect new SOC 1 reports issued in accordance with SSAE No. 116

  20. SAS 70 Tool • The SAS 70 Tool Addresses: • Type 2 report general information • Service auditor’s opinion • Period covered by the Type 2 report • Service auditor’s professional reputation • Use of subservice organizations/carve-outs • Identification of control objectives and exceptions noted • Complimentary user organization controls • Documentation of the evaluation of control objectives • Payroll • Conclusion

  21. SAS 70 Tool-Best Practices • Utilized as part of a centralized review • Firms in associations prepare checklists to share with other firmsin association. • Firm with multiple offices may complete checklist for each service provider and save on a common drive.  • Each audit team accesses the appropriate checklist and update for specifics of their client and the user controls. • Utilized by an individual engagement team • Completed for a specific engagement

  22. Accounting and Auditing Resource Centers • 13 Resource Centers • Tools, primers and other resources

  23. Accounting and Auditing Resource Centers • 403(b) Plans • Audit Documentation (SAS No. 103) • Auditor Independence • Defined Benefit Pension Plans • Form 11-K Audits • Fraud in Employee Benefit Plans • Health and Welfare Benefit Plans • Internal Control Communications (SAS No. 115) • Limited Scope Audits • Risk Assessment Standards (Nos. 104-111) • Pension Protection Act of 2006 • Plan Investments • Parties In Interest and Prohibited Transactions

  24. Limited Scope Audit Resources • “Topix” Primer, Limited Scope Audits of Employee Benefit Plans • Limited Scope Decision Tree • Excerpts from past employee benefit plan audit risk alerts • EBPAQC Live Forum webinar archive—Limited Scope Audits, Basics and Beyond • Links to DOL regulatory information

  25. Fraud In Employee Benefit Plans Resources • Fraud Risk Factors in Employee Benefit Plans • DOL Criminal Enforcement Cases • EBP Fraud Examples • 10 Warning Signs That Pension Contributions are Being Misused • EBPAQC Live Forum Webinar archive—Fraud Risks in Employee Benefit Plans

  26. Plan Investment Resources • Assessing the Fair Values of Your Plan Investments: Considerations for Plan Management in Understanding How Fair Values Are Determined under FASB Statement No. 157, Fair Value Measurements • Illustrative Fair Value Disclosures • FASB ASC 820 Plan Sponsor FAQs • Archived EBPAQC Live Forum webinars – FAS 157 Q&A; FAS 157 Implications to Employee Benefit Plans • Plan Advisory, Valuing and Reporting Plan Investments • “Topix” Primer, Alternative Investments in Employee Benefit Plans • "Topix" Primer, Stable Value Funds and Investment Contracts—An Overview • AICPA Alternative Investments – Audit Considerations, A Practice Aid for Auditors

  27. 403(b) Plan Resources • “Topix” Primer, 403(b) Plans • 403(b) Filing and Audit Requirements • 403(b) Plan Audit Frequently Asked Questions • 403(b) Questions to Expect from Your Plan Auditor • 403(b) Sample Auditor Request List for Plan Information • EBPAQC 403(b) Plan Audit Live Forum archives (2 Webinars) • DOL contact information for 403(b) questions • Links to other resources

  28. Member-to-Member Discussion Forum • 7 forums • Over 3,050 online participants • 1,950 topics posted • Valuable resource

  29. Member-to-Member Discussion Forum • Audit Forum • 403(b) Plan Audits • ASC 820 (FAS 157) Fair Value Implementation • Form 5500 Reporting Forum • Tax and Compliance Forum • Multiemployer Plan Forum • Form 11-K Forum

  30. Member-to-Member Discussion Forum- Best Practices • Bookmark the Forum • Visit periodically to keep abreast of hot topics • Encourage your staff to use Forum • Use the “search” feature to find a topic • Help others by responding to postings

  31. The Center Website • Your online community and resource repository • Learn about recent EBP developments • Find center tools • Enter the Member-to-Member Discussion forum • Find archived webinars and information about upcoming center webinars • Connect with other firms • Find answers to your membership questions • Order AICPA EBP publications and CPE • www.aicpa.org/ebpaqc

  32. News & Publications Find: • Archived EAlerts • Topix Primers • Plan Advisories

  33. Resources

  34. CPE & Events • Learn about upcoming Center Webinars • Listen to archived webinars

  35. Community

  36. Membership

  37. EBPAQC Home Page

  38. Other Tools, Resources and Benefits • Plan Sponsor Resource Center • Marketing Toolkit • Comment Letters • Practice Tools • Professional Insurance Discount

  39. Plan Sponsor Resources • Audit Quality and Auditor Selection • Article: Quality Counts for Your Plan's Financial Statement Audit • RFP and Auditor Evaluation Process Checklist • Find a Center Member by firm (alpha or state name) • Plan Advisories • DOL/Regulatory Resources

  40. EBPAQC Marketing Toolkit • Sample General Announcement to All Firm Staff • Sample Announcement to Employee Benefit Plan Audit Staff (granting access to website) • EPBAQC Press Release and Press Relations Guidelines • EBPAQC Logo Usage and Guidelines • Client Communication • Client Talking Points • Newsletter Sample • Sample Web site Text • Networking Strategies • Marketing Strategies

  41. EBP Testimony and Comment Letters • AICPA Testimony on Fraud in Employee Benefits Plans • AICPA Testimony on Generally Accepted Privacy Principles (GAPP) • AICPA Request for Extension of 2009 Form 5500/5500-SF Filing Deadline • AICPA Testimony on Employee Benefit Plan Auditing and Financial Reporting Models • AICPA Testimony on Stable Value Investments • AICPA Testimony on Hard-to-Value Assets • AICPA Comment Letter on the Certification of Alternative Investments in Limited Scope Audits • AICPA Testimony on Health and Welfare Plan Audits

  42. Practice Tools • ERISA Inventory and Staffing Schedule • Firm Preparedness Checklist • Internal Inspections Tool • Responding to Requests for Proposal

  43. Tips and Suggestions • Where to Start • Most-Used Tools and Resources

  44. Questions?

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