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Audit Decision Worksheets

This template can be used to assist the auditor and the plan administrator in determining whether an audit is required for a defined benefit, defined contribution, or a health and welfare plan. It is based on the Form 5500 and instructions for Form 5500 for 2009 plan years. Users auditing financial statements for years prior to or subsequent to 2009 should ensure that the audit meets the requirements of the Form 5500 for those particular years.  The Form 5500 and Instructions for Form 5500 are available on the DOL's website at http://www.dol.gov/ebsa.
Each worksheet in this workbook is designed to hide any steps that are not applicable based on the information and answers provided. Thus, a completed worksheet may appear to skip program steps or appear randomly arranged. However, the worksheet's conclusions are not affected by this presentation.
The template consists of the following individual worksheets:
  • DB & DC. This worksheet can be used to determine whether an audit is required for a defined Plans benefit or for a defined contribution retirement plan. The worksheet includes the rules provided in the Pension and Welfare Benefit Administration’s “Small Pension Plan Security Amendments,” (the Amendments).
  • H&W plans. This worksheet can be used to determine whether an audit is required for a health and welfare benefit plan.  
  • 403(b) plans. This worksheet is designed to assist the auditor and the plan administrator in determining whether an audit is required for a 403(b) plan. This worksheet assumes the plan's investments consist solely of annuity and/or custodial contracts pursuant to the provisions of IRC Sect. 403(b).