Employee Benefit Plan Internal Controls

The AICPA Employee Benefit Plan Audit Quality Center has published a very useful Plan Advisory entitled “The Importance of Internal Controls in Financial Reporting and Safeguarding Plan Assets”.  The document begins with general background information that might put you to sleep, but then moves into more interesting topics such as “How Your Auditor Can Help You Improve the Effectiveness of Your Plan’s Internal Control.”  The most useful part of the document starts on page 14, and if you are short on time, I recommend you start here.  It provides dozens of examples of controls for employee benefit plans in areas such as investments, contributions, loans and participant benefits.  The Plan Advisory can be accessed below:

Plan Advisory


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