Employee Benefit Plans Annual Audit Virtual Conference | 5202784B

Date :
June 12, 2020 8:00 AM - 4:00 PM
Location :
Webcast
Facility :
Webcast Event
Level of Difficulty :
Update
Member Price :
345.00
Nonmember Price :
455.00
CPE Credits :
CPE 8.50, AA 8.50
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Regulatory, reporting and disclosure requirements surrounding employee benefit plan auditing are growing and changing. Audit deficiencies are more common than firms care to see. The risk of plan failures or fraud is always present for plan sponsors. Learn about the complexities, trending issues and steps you can take to be up to date on regulatory, audit and accounting requirements, perform quality audits and serve your clients with timely and accurate advice.

Objectives:

  • Recognize which updates on standards and regulations impact your employee benefit plan audit practice.
  • Identify areas of risk for plan failure and fraud.
  • Determine new tools to successfully perform high-quality audits.

Major Subjects:

  • Accounting, Auditing and Reporting Update
  • Operations Errors: Pitfalls and Solutions
  • Communications to Those Charged with Governance
  • Adding Value for Plan Sponsors
  • Form 5500
  • Mergers and Terminations

Advanced Prep:

None

Misc. Information:

Register Today!

Sponsors

Level of Difficulty:
Update
Field of Interest:
Auditing
Prerequisites:
Basic knowledge of accounting and auditing and experience with employee benefit plan audits.
Designed For:
CPAs who perform employee benefit plan audits and senior managers, staff, financial professionals, individual advisers and attorneys who specialize in working on employee benefit plans.

Instructors

Andrew Douglas Armstrong, CPA
Andy is a Partner in SingerLewak’s Assurance & Advisory Practice in the Silicon Valley office. Andy has 13 years of experience consulting and auditing employee benefit plans and he is the Firm’s Employee Benefit Plan Practice Lead Partner. Andy has worked on audits of employee benefit plans with assets ranging from $250,000 - $3,000,000,000 and has seen many unique and “interesting” situations related to these plans. Andy received a Bachelor of Arts degree in Business-Accounting from the University of Utah.
Jasmine Starr Baker, CPA
Jasmine S. Baker, CPA Jasmine is a Partner at Lindquist LLP, in the San Ramon, California, office. She has over 15 years of specialized experience providing audit and accounting services to employee benefit plans and labor organizations. Her experience includes auditing single-employer and multi-employer plans, including defined contribution plans, defined benefit pension plans, and health and welfare plans. Jasmine excels at both client engagements and behind-the-scenes projects. She serves as the engagement partner for financial statement audits, reviews and compilations; counsels clients and attends board of trustee meetings to report findings. In addition to working with clients; Jasmine participates in the firm’s Audit and Accounting Committee and provides training to the firm’s professionals on a variety of industry-specific topics. Her professional memberships include the American Institute of Certified Public Accountants, the California Society of Certified Public Accountants, and the International Foundation of Employee Benefit Plans. She earned a Bachelor of Science degree in accounting from Saint Mary’s College of California.
Darlene M. Bayardo, CPA

Darlene Bayardo, a director in the national assurance department at BDO, has more than 20 years of experience with national public accounting firms and private accounting with extensive knowledge in the audits of employee benefit plans (EBPs). As a lead technical resource in BDO’s national EPB audit practice, her responsibilities include ERISA audit quality and risk management. The majority of her time is dedicated to technical consultations, development of audit and accounting guidance, resources and training programs for employee benefit plan auditors, industry development, communications, and quality reviews for BDO’s national EBP audit practice. She instructs national training courses and regularly contributes to BDO’s periodic newsletter, EBP Commentator.

Bayardo’s EBP experience has included all types of defined contribution, defined benefit and health and welfare plans; numerous plans with one sponsor and various service providers; 11-K filings; and master trusts. She advises and assists clients in the area of benefit plan accounting and compliance and has extensive experience in the preparation of financial statements and footnotes for employee benefit plans. Bayardo is a member of CalCPA and the AICPA, serves on the AICPA Employee Benefit Plans Expert Panel, and was an active member on the AICPA Technical Standards Subcommittee of the Professional Ethics Executive Committee. She holds a bachelor’s degree in accounting from Loyola Marymount University.

Summer Breen
Summer Breen is an assurance senior manager with Armanino. She has over 13 years of experience in public accounting. She is dedicated to audits of employee benefit plans and she has experience in single employer plans with a variety of funding arrangements, including defined benefit pension plans, 401(k) plans, 403(b) plans, and 103-12 investment entities.
Robert K Butterfield
Robert (Rob) K. Butterfield was born in Hartford, Connecticut in 1951. With a long family history steeped in the New England states (and the Caribbean), Rob remained rooted in the area and attended Boston University, where he obtained his undergraduate degree in 1974. No stranger to hard work and adventure, Mr. Butterfield made his way West to San Diego to attend the University of San Diego School of Law where he earned his Juris Doctorate in 1977. Mr. Butterfield’s legal career extends over four decades in San Diego. He has practiced employee benefits, tax, estate planning and corporate law since 1977. Beyond his legal career, Mr. Butterfield remains a dedicated community leader cofounding “Promises2Kids”, participating in many charitable events throughout each year, running for U.S. Congress as a nominee of a major political party in 1988, and has held several past leadership positions in local civic and legal organizations:  Past President, Western Pension and Employee Benefits Council – San Diego Chapter  Member, Administrative Board of the San Diego City Retirement System, 1986‐ 1991  Member, City of San Diego's 2004 Pension Reform Committee  Member, Taxation Section, State Bar of California, 1977 to present  Member, San Diego County Bar Association Taxation Section, 1977 to present, Chairman 1985 Mr. Butterfield enjoys an active lifestyle when he is outside of the office, where he can be found skiing during the winter, hiking, and captaining his waterski boat on our local bays with his loyal dog, Cannoli (during the summer). An avid historian and lifelong {00331412.DOCX} learner, Mr. Butterfield enjoys travel. A “bucket list” item is to visit the Caribbean island of Saba where his maternal grandfather grew up (descended from pirates). He also has his interests in the arts. Mr. Butterfield’s daughter, Jillian Butterfield, is an accomplished singer and performer, who currently resides in New York City (except when she is performing). Jillian has recently secured the lead role as Belle in the production of Beauty and the Beast on the Disney Dream cruise ship.
Jason D Figgat, CPA
Jason Figgat is an assurance senior manager with Armanino and has provided audit and consulting services to the sponsors of benefit plans since 2007. He has experience with single employer plans with a variety of funding arrangements, including defined benefit pension plans, 401(k) plans, 403(b) plans, health and welfare plans, and employee stock ownership plans.
Brent Hulbert
Brent helps organizations understand and successfully meet the significant decisions and maze of obligations for running their retirement programs. Leveraging RSM’s independence and objective viewpoint, Brent helps employers understand their retirement plans from design to investment components, provider services and fees. He assists with the retirement plan fiduciary process and monitoring services, easing the burden of the fiduciaries. Brent has over 15 years of experience in the financial services industry, with over 12 years working exclusively with group retirement plans such as 401(k), 403(b), profit sharing, defined benefit, ESOP and non-qualified plans. Brent takes great pride in developing solid client relationships. With a comprehensive understanding of the client’s goals, he provides plan advice and practical solutions that help build an efficient retirement plan strategy.
Jill C. Kitchin, CPA

Jill Kitchin is a senior audit manager in the San Francisco office of Hood & Strong LLP. She manages and oversees financial statement audits and other projects, ensuring that outstanding client service is provided. With more than 13 years of public accounting experience, Kitchin has the technical knowledge and experience to assist clients improve their internal control policies and procedures, as well as assist with accounting-related projects and audits. She is also responsible for leading the internal education for the firm’s employee benefit plan group. Her personal approach along with her commitment to quality has made her successful in providing excellent accounting services. Kitchin’s areas of expertise include audits of employee benefit plans; audits of not-for profits, foundations, museums, independent schools, and colleges and universities; audits of privately-held businesses; and internal control and operations reviews. In addition to serving as chair of Hood & Strong LLP’s Volunteer Committee, she is a member of the AICPA and CalCPA. Kitchin holds her master of business administration from Saint Mary’s College of California, and her bachelor’s degree from the University of the Pacific. She is licensed by the California Board of Accountancy as a CPA.

Marilee P. Lau, CPA

Marilee Lau provides consulting services and teaches various educational programs on accounting and auditing for employee benefit plans. She assists audit firms specializing in employee benefit plans by providing technical support and performing internal reviews of their EBP audit practices. Before retiring in 2009, Lau was the national partner in charge of KPMG’s employee benefit plan audit practice.

Lau is a founding member and a former chair of the AICPA Employee Benefit Plan Audit Quality Center’s Executive Committee, which was established in 2004. She was the AICPA’s 2011-2013 representative to the DOL’s ERISA Advisory Council. Lau has served on the AICPA’s Employee Benefits Plans Experts Panel and was the chair of the EBP Audit Guide Overhaul Task Force. She assisted the AICPA in writing the ESOP chapter for the EBP Guide as well as the pension chapter for the State and Local Government Guide. She was also a member of AICPA Ethics Subcommittee for employee benefit plans from 2012-2016. Lau is heading up the task force to write the multiemployer chapter for the EBP Guide, and she is a member of the AICPA Peer Review Subcommittee for EBP and performs oversight reviews of the Peer Reviews for EBP audits. She has also served on the Accountants Committee for the International Foundation of Employee Benefit Plans.

Lau is a member of the AICPA, CalCPA and the International Foundation of Employee Benefit Plans, and a frequent speaker for numerous professional conferences and programs. She is a graduate of Santa Clara University with a bachelor’s degree in economics and a master of business administration in accounting.

Lynne McMennamin
Lynne McMennamin is an Auditor in the Division of Accounting Services and a Senior Reporting Compliance Specialist in the Division of Reporting Compliance in EBSA’s Office of the Chief Accountant. Before joining the Department of Labor in 2013, Lynne worked in public accounting, specializing in Employee Benefit Plans, for over 20 years, including 10 years as a partner in an international accounting firm. Lynne served on the AICPA Employee Benefit Plan Expert Panel from 2003 to 2007 and on the AICPA Employee Benefit Plan Audit Quality Center Executive Committee from 2008 to 2011. Lynne has a Bachelor of Science degree in Accounting (cum laude) from University of Maryland College Park. She is a CPA licensed in Maryland.
Bertha A. Minnihan, CPA

Bertha Minnihan has been in public accounting since 1995 and serves as the national practice leader for Moss Adams’ employee benefit plan audit group. She has extensive experience directing all phases of audits for a variety of benefit plans including 401(k), 403(b), pension, employee stock ownership, and health and welfare benefit plans. She has also worked with a number of 11-k clients. Her ERISA expertise includes the specialized knowledge required for audits, Form 5500s and related filings. Minnihan provides various consulting services related to the ERISA industry nationwide and dedicates her time to staying on top of Department of Labor requirements while they are still in the proposal and discussion stage.

Minnihan has been named by the Silicon Valley Business Journal as one of its Women of Influence in Silicon Valley and by the San Francisco Business Times as one of its Most Influential Women in Bay Area Business. She serves on the AICPA’s Employee Benefit Plans Expert Panel, and has previously served on the AICPA Employee Benefit Plan Audit Quality Center’s Executive Committee, chaired the annual national AICPA Benefit Plan Conference for several years, and served on the AICPA’s Technical Standards Subcommittee, which assists with the Department of Labor’s review of ERISA audits and auditors. Minnihan also chairs the annual California State Society Annual Employee Benefits Plan Conference and has won CalCPA’s volunteer of the year award. She is frequently called upon to speak at local and national organization events dedicated to the benefit plan audit specialty and her acumen is widely recognized by many of the third-party administrators, trustees and investment custodians utilized by companies in Silicon Valley and beyond.

Thomas Jay Parry, CPA

Tom Parry is a shareholder of Benson & Neff, a local firm located in San Francisco. He is responsible for the system of quality control applicable to all accounting and audit services provided by the firm, and the engagement partner for audits of employee benefit plans performed by the firm. Parry specializes in reviewing quality control policies and procedures for other AICPA member firms and acts as the quality control reviewer for audit and accounting services provided by other firms to both public and privately-held clients.

Parry is the chair of the AICPA Peer Review Board; and a member of the Board’s Standards Task Force and Peer Review Practice Monitoring Task Force for Employee Benefit Plans, as well as the California Peer Review Committee. He also serves on the Quality Control Task Force of the Auditing Standards Board.

Marilyn Ryding
Marilyn Ryding has had a rich and varied career in the retirement plan industry beginning with a 25-year career as a co-owner and principal with Truog-Ryding Company, a third-party administration firm specializing in consulting and administration of employer-sponsored retirement plans. In 2007, she sold her interest in Truog-Ryding Company and accepted a position with ING Financial Advisors, LLC, where she was regional vice president. Now owner and president of a retirement plan consulting practice, Ryding works with over 50 plans ranging in size from small to $100-plus million in assets. As head of sales and marketing for Truog-Ryding Company, Inc., her responsibilities encompassed just about every aspect of the business, including the education and training of employees, supervision of plan administration, plan terminations, plan takeovers, mergers and acquisitions, as well as handling IRS and Department of Labor plan audits. A frequent speaker at retirement plan seminars, Ryding has served on the board of directors for the National Institute of Pension Administrators (NIPA), taught review sessions for the American Society of Pension Practitioners & Actuaries (ASPPA) CPC program, and has been a contributing author for Fundamentals of Retirement Plans, a textbook used in NIPA’s APA program. She received the Lifetime Achievement Award from NIPA in 2003. She has also been a speaker at the Golden State Republican Women Leaders Forum, a workshop sponsored by Working Women magazine; has taught for Lorman Education Services; and most recently has been featured on KNX and KFWB radio’s “Money 101” program hosted by Bob McCormick. Her knowledge and experience has been tapped to provide expert witness testimony in retirement plan-related litigation. She is a board member for the Los Angeles Chapter of NIPA, holds a Life and Health insurance license, and has also earned the Accredited Investment Fiduciary (AIF) designation. She earned her bachelor’s degree at Cornell College and pursued post-graduate studies at the University of Iowa.
Meredith J. Sesser, Esq.

Meredith J. Sesser is of counsel to Brucker & Morra, A Professional Corporation, and is among the nation’s leading authorities on employee benefits law, ERISA and benefits taxation. Sesser’s 17 years of pension and ERISA experience enables Brucker & Morra to assist businesses and non-profit organizations in the preparation, implementation, operation and termination of retirement plans such as defined benefit plans, cash balance pension plans, 401 (k) and profit-sharing plans, and 403(b) plans (plans for public education organizations, governments, religious institutions and non-profit organizations). Sesser represents employers in Department of Labor (DOL) and Internal Revenue Service (IRS) controversies, including investigations, audits, and voluntary compliance to prevent or correct plan disqualification and fiduciary breaches (EPCRS, VCP, DFVCP and VFCP). She counsels clients on inadvertent filing errors, resolves inaccuracies, and works vigorously to successfully abate IRS penalties charged to employers with late or negligent filings of Form 5500 (Annual Return/Report of Employee Benefit Plan). In addition, she advises employers on employee benefit claims.

Sesser provides advice on business structuring and employment relationships, including how to determine and analyze controlled and affiliated groups as well as leased and staff employees, to ensure that a business owner’s retirement benefits are not subject to scrutiny by the IRS. She is the “go-to” lawyer for many third-party administrators. Sesser is the past president of the board of directors of the Los Angeles Chapter of the National Institute of Pension Administrators (NIP A), and is a member of the American Society of Pension Professionals and Actuaries (ASPP A).

Patrick Tokarski
Patrick Tokarski is a Product Manager for the Accounting and Audit Solutions. He has been with Wolters Kluwer since 2016. Prior to joining the product management team, he worked as an A&A Software Consultant helping firms become more productive by conducting training and consulting on various CCH® ProSystem fx® products including Engagement, Knowledge Coach and TeamMate Analytics® among others. Patrick also delivers multiple CCH® Learning and Development Academy School of Audit programs such as Knowledge-Based Audit (KBA) Methodology and role-based programs. Patrick is a CPA and worked in public accounting as an auditor for seven years. In addition, he spent 8 years in the professional standards group of a national firm. He has also worked in private industry accounting as a controller and consultant helping to implement software and process changes. Patrick received his Bachelor’s degree in Accounting from the University of Wisconsin – La Crosse. Patrick currently resides in Madison, Wisconsin.
Mark Jeffrey Wirth, CPA
Mark Wirth has more than 30 years of experience with audits of employee benefit plans and is the West Region leader for the employee benefit plan assurance practice at RSM US LLP. He is involved in developing and presenting training programs both internally for RSM and for the AICPA. In addition to his vast experience with audits of 401k plans, profit sharing plans and defined benefit plans, Wirth has significant experience in auditing ESOPs and companies with ESOPs. He also consults with clients and client service teams on plan accounting issues, plan design issues and resolution of operational defects and compliance violations. Wirth is a member of CalCPA and the AICPA; and a founding member, past board member, and past treasurer of the Los Angeles Chapter of the National Institute of Pension Administrators. He holds a bachelor’s degree in business administration, cum laude, from Western Michigan University.

Agenda:

  • 8:00 AM Welcome
  • 8:05 AM Department of Labor (DOL) Update
    • Lynne McMennamin
  • 8:55 AM Accounting, Auditing & Reporting Update
    • Darlene M. Bayardo, CPA
    • Jill C. Kitchin, CPA
    • Thomas Jay Parry, CPA
  • 9:45 AM Morning Break
  • 9:55 AM Auditing in Trying Times (COVID-19)
    • Marilee P. Lau, CPA
    • Bertha A. Minnihan, CPA
    • Mark Jeffrey Wirth, CPA
  • 10:45 AM Communications to Those Charged with Governance
    • Jasmine Starr Baker, CPA
    • Bertha A. Minnihan, CPA
  • 11:30 AM Adding Value for Plan Sponsors (Trends and Amendments)
    • Brent Hulbert
  • 11:55 AM Lunch
  • 12:35 PM Enhance the quality of your Employee Benefit Audits
    • Patrick Tokarski
  • 1:05 PM The Plan Auditor and Form 5500
    • Mark Jeffrey Wirth, CPA
  • 1:40 PM Mergers and Terminations: What You Need to Know
    • Andrew Douglas Armstrong, CPA
    • Robert K Butterfield
  • 2:30 PM Afternoon Break
  • 2:40 PM Operational Errors: Pitfalls & Solutions
    • Marilyn Ryding
    • Meredith J. Sesser, Esq.
  • 3:30 PM Auditing in a Digital World
    • Summer Breen
    • Jason D Figgat, CPA

Materials:

  • Materials - eBook

Sponsors

Wolters Kluwer
Silver

Sponsors