32AU-C 703 Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA


AU-C 703:

  • Provides guidance on the auditor's responsibility to form an opinion on the financial statements of employee benefit plans (EBPs) subject to the Employee Retirement Income Security Act of 1974 (ERISA)
  • Addresses the form and content of the auditor's report issued as a result of an audit of ERISA plan financial statements

    (AU-C 703.01)


“Limited-scope audits” are now referred to as ERISA section 103(a)(3)(C) audits. ERISA section 103(a)(3)(C) permits plan management to elect to exclude from the audit certain investment information a qualified institution ...

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