Tag Archives: Department of Labor

Bringing Boards Into the DOL Loop

State Board Report July 2015 The May 2015 report from the Office of the Chief Accountant, Employee Benefits Security Administration (EBSA), U.S. Department of Labor (see SBR 6/15) on the quality of employee benefit plan audits performed by independent qualified public accountants was "a call to action," NASBA Executive Vice President and COO Colleen K.…

EBSA Issues Report on EBP Auditors

State Board Report June 2015 The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) released its anticipated report on "Assessing the Quality of Employee Benefit Plan Audits" on May 28. For the 2011 filing year, 81,162 audit reports on employee benefit plans (EBP) were submitted to the EBSA by 7,330 different CPA firms. To…

NASBA Urges DOL to Report to Boards

State Board Report May 2015 Talks with leaders of the Department of Labor and NASBA Executive Vice President Colleen K. Conrad and NASBA Chief Legal Officer Maria-Lisa Caldwell have been moving forward to have the DOL provide referrals of inadequate employee benefits plan audits performed by CPAs sent to the State Boards of Accountancy at…

Panel Looks at DOL Concern

State Board Report November 2014 The Department of Labor’s concern with the quality of audits of Employee Benefit Plans (EBP) being performed by CPA firms (see SBR 3/14) was brought to the attention of the State Boards’ Executive Directors at their March 2014 meeting, but it had been brought to the attention of the AICPA…

DOL’s Dingwall Urges Communication

State Board Report April 2013 Estimating he had sent out about 100 letters to Boards of Accountancy to alert them to substandard work performed by CPAs in their audits of employee benefit plans, Ian Dingwall, Chief Accountant of the Department of Labor, encouraged Executive Directors at their Tucson meeting to respond to these letters. Very…