AICPA Board Could Revise Benefit Plan Audit Proposal
The American Institute of Certified Public Accountants’ Auditing Standards Board could revise a proposal for audits of benefit plans under the Employee Retirement Income Security Act of 1974 (“ERISA”). At a meeting last month in New Orleans, the board discussed possible changes after reviewing comment letters on Proposed Statement on Auditing Standards: Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA. The proposed standard aims to help auditors understand their role and provide interested parties additional information on auditors’ responsibilities, especially in circumstances when the audit’s scope is limited. After previous talks on submitted. Read More.