Limited Scope Audits of Employee Benefit Plans

EBPAQC Limited Scope Audits - Keiter CPA


Is your employee benefit plan eligible for the limited scope audit exemption?

Eligible employee benefit plans for the limited scope audit exemption must have an authorized representative for the institution manually or electronically sign the certifications and confirm both the completeness and correctness of the required information.

This advisory* covers topics including:
  • The Plan Administrator’s Responsibilities for Determining the Acceptability of a Limited Scope Certification
  • The Auditor’s Responsibilities for Determining Whether a Certification Can Be Relied Upon to Limit the Scope of the Audit
  • The Effect on the Audit Scope and Testing
  • Limited Scope Audits in the Current Statutory and Regulatory Basis
  • Common Deficiencies in Limited Scope Certifications
  • Qualified Institutions
  • Proper certifications
  • Environment
  • The Auditor’s Report