Form 5500: Overview of Changes to the Form 5500 and Audits of Employee Benefit Plans
Christine Poth, a partner in the Vorys Columbus office and Dawne Parrish, a partner in the Vorys Cincinnati and Columbus offices co-hosted a webinar on June 22, 2022 that provided an overview of the changes to the Form 5500 and audits of employee benefit plans.
There have been several developments in the last couple of years which impact a plan sponsor’s Form 5500. In addition to new auditing standards issued by the AICPA Auditing Standards Board that apply to the audited financial statements that may be required to be filed with the 2021 Form 5500, the Department of Labor has issued content changes to the Form 5500 which are applicable for the 2022 plan year. The webinar provided an overview of the following:
- Overview of the Form 5500 Requirements
- Summary of the Auditing Standards No. 136 and the impact on audits of employee benefit plans
- Summary of the content changes to the 2022 Form 5500
- Summary of proposed changes to Form 5500
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