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FASB's New Employee Benefit Plans Reporting Simplification Rules

On July 31, 2015, the FASB issued Accounting Standards Update (ASU) 2015-12, which is designed to simplify several aspects of employee benefit plan financial reporting, including (1) fully benefit-responsive investment contracts, (2) certain plan investment disclosures, and (3) provide a measurement date practical expedient.

Specialization Matters: Small EBP Audit Practices More Likely to Produce Deficient Audits

Findings from a recent Department of Labor Report, Assessing the Quality of Employee Benefit Plan Audits: 2014 Audit Report suggest a strong correlation between the number of employee benefit plan audits a firm performs and audit quality.

Department of Labor Releases Employee Benefit Plan Audit Quality Study

Findings from a recent audit quality study (2014 Study) found that nearly 4 in 10 employee benefit plan (EBP) audits in the 2011 plan filing year contained major deficiencies and failed to meet regulatory standards.

Lessons from the GreatBanc Settlement - ESOPs to Face More Scrutiny

The US Department of Labor has intensified its scrutiny of Employee Stock Ownership Plans over the last five years.

Project Aims to Simplify Employee Benefit Plan Reporting

The Financial Accounting Standards Board (FASB) is examining options to simplify employee benefit plan (EBP) accounting standards.


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