Читать книгу Auditing Employee Benefit Plans - Josie Hammond - Страница 53

Generally accepted auditing standards and accounting principles apply to employee benefit plans. In addition, the AICPA Audit and Accounting Guide Employee Benefit Plans, provides guidance to practitioners on certain accounting, auditing, and reporting matters unique to employee benefit plans.

Defined benefit, defined contribution, and health and welfare are types of employee benefit plans. The objectives of financial reporting for all types of employee benefit plans are to report the resources available to fund participant benefits and the claims on those benefits. Regardless of plan type, employee benefit plan financial statements should include a statement of net assets available for benefits as of the end of the year and a statement of changes in net assets available for benefits. Defined benefit plans have additional statements in connection with disclosing the actuarial present value of accumulated benefits. Common elements in the financial statements of an employee benefit plan include investments, contributions receivable and received, investment income receivable and received, net appreciation (depreciation) in the fair value of investments, benefits paid and expenses paid. Refer to appendixes A– C and B-1–C-1 in this course and appendixes C–F in the Audit and Accounting Guide Employee Benefit Plans for illustrative financial statements and disclosures by plan type.