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DC plan audit information request tracker tool

Oct 01, 2023 · 84.5 KB Download

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This EBPAQC tool is intended to be used by auditors to track requests for audit information for a defined contribution retirement plan audit from the plan sponsor, administrator, recordkeeper and others who may have plan information necessary to perform the audit. Firms may insert their name and logo and delete the tool instruction information in the shaded area (row 6) before sending along to clients.

The tool is conveniently prepopulated with the most common information requested in defined contribution retirement plan audits. However, it is not intended to be all-inclusive for all audit situations and the auditor may need to request other information that is not listed in this tool. The tool can and should be customized to the specific plan audit client by adding, deleting or editing the rows of audit information.

This tool includes features to help firms easily track their requests. When a “Target date” is entered, the “Days to complete” column automatically populates, and as information is received simply enter “complete” in the “Days to complete” column and the row will appear shaded in gray.

The information request tracker includes information related to:

  • Plan documents and other agreements

  • Correspondence and committee meetings

  • Plan governance/related parties/parties in interest

  • Financial and compliance reporting

  • Financial reporting disclosure items

  • Type 2 SOC 1 reports

  • Trustee items

  • Contribution and participant eligibility information

  • Distribution information

  • Administrative expense items

  • Participant loan information

  • Detail investment schedules

  • Other items to complete

  • Plan merger or spin-offs

  • Change in custodian/trustee/recordkeeper

  • Initial audits

  • Terminating plans

  • Additional ESOP requests

  • Additional 403(b) requests

Also included are helpful tips for using the tool.

Download the DC Plan Audit Information Request Tracker EBPAQC Tool

File name: ebpaqc-dc-plan-audit-information-request-tracker.xlsx

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