Full Scope Audit

[Guest contman]

WHAT ARE SOME OF SPECIFIC PROCEDURES PERFORMED BY PRACTIONERS DOING 401K AUDITS, WHEN THE ASSET CUSTODIAN, TRUSTEE, ETC. DOES NOT MEET THE REQUIREMENTS FOR A LIMITED SCOPE AUDIT UNDER DOL SECTION CFR 2520.103-8?

[Guest Robin Vatalaro]

As noone has responded to this post, I would suggest perusing the AICPA employee benefit plans audit guide, or speaking with a CPA you may be acquainted with, who might know an ERISA-savvy auditor that would be willing to answer your questions.

[Guest b2kates]

P.P.C. has an audit guide for employee benefit plans. Obtain a copy.

Also, does the recordkeeper have a SAS 70 report.

The testing of assets is not so difficult, the detail is in testing the transactions.