Instructor
Howard Sibelman
Instructor
Howard Sibelman, CPA is a discussion leader for the CalCPA, AICPA and Kaplan. As the former education director for Crowe Horwath International, a network of 140 accounting firms, Sibelman provided leadership on audit methodology, the CaseWare Crowe Horwath International Audit Template, training initiatives and A&A technical support to the Crowe Horwath International Subscriber Group. Immediately prior to joining CHI, he was a business assurance partner at Moss Adams, the 11th largest accounting firm in the US. At Moss Adams, Sibelman was a member of the firm’s International Services Group, IFRS Core Training Group, and quality control coordinator for the Los Angeles office. He has extensive experience in A&A and consulting to middle-market companies.
An integral part of Sibelman’s background is education. During his 50 year career as an auditor, 30 years as an audit partner, he was national CPE director for a national CPA firm, an instructor at USC, on the faculty of two of the largest CPA review courses, and has authored and facilitated numerous firm and CPA society CPE programs. He was a founding member of the AICPA Employee Benefit Plans Quality Center Executive Committee, and served as chair of the CalCPA Accounting Principles and Assurance Standards Committee. He received a BA degree in economics (major in accounting), cum laude, from Brooklyn College and a Master of Business Taxation from the University of Southern California.
Auditing 401(k) Plans focuses on “limited-scope” audits that comprise over 80% of the audits filed with the Department of Labor. Take a hands-on approach to performing these engagements in a manner that complies with all professional requirements. Although not yet required, the substantive changes contained in SAS 136 are also discussed.
• Identify the requirements CPAs should follow when performing an audit of a 401(k) plan.
• Recognize the authoritative literature applicable to performing an audit of a 401(k) plan.
• Become familiar with the contents of the authoritative literature.
• Identify the trends in the profession and recognize the imminent changes to the professional landscape of performing audits of 401(k) plans.
• Requirements to meet when the client selects the ‘limited-scope’ audit option
• Testing participant data
• AICPA Audit and Accounting Guide ‘Employee Benefit Plans’
• AICPA SAS 136 Forming An Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA
None
CPAs that perform limited-scope audits of 401(k) plans.