| Dear Center Members: |
This alert contains information about:
- Volunteer Opportunities
- EBP Committee Changes
- 2019 Mandatory EBPAQC Membership Requirements Compliance Questionnaire
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2020-2021 AICPA Volunteer Committee Application Process Underway
If you are interested in contributing to the profession and networking with your peers, then consider applying to serve on the EBPAQC Executive Committee or the Employee Benefit Plans Expert Panel. The application period is now open for the next volunteer year (May 2020 – May 2021) and applications will be accepted until October 1, 2019. Volunteer committee applications can be accessed via https://volunteers.aicpa.org/default.aspx. Please be sure to provide a detailed resume along with your application that includes pertinent information about your EBP experience. To attach your resume, click on the Resume and Letters of Recommendation option under the Apply tab. If you have any questions regarding the application process or volunteering in general at the AICPA, email inquiries to AICPAVolunteerServices@aicpa.org.
Following is information about these volunteer opportunities and applicant qualifications.
EBPAQC Executive Committee
The EBPAQC Executive Committee establishes general policies of the Center and oversees its activities. The Executive Committee is made up of 16 members who may serve up to three consecutive one-year terms. The Committee comprises members from small, medium, and large firms from various geographic regions throughout the country. Candidates for the EBPAQC Executive Committee must be the firm's Center Designated Partner, have significant employee benefit plan audit experience, and the candidate's firm must be in compliance with all Center membership requirements. Candidates should also have demonstrated commitment to improving ERISA audit quality within their firm and be active in their state CPA society or other similar activities. Membership on the Executive Committee requires a minimum commitment of 125 to 150 volunteer hours per year. Committee members should be prepared to attend two in-person committee meetings per year and periodic committee conference calls, participate in the activities of two or three task forces, participate on EBPAQC webinars, and speak on behalf of the Center at various AICPA and state society conferences.
EBP Expert Panel
The Employee Benefit Plan Expert Panel monitors employee benefit plan industry developments, trends and opportunities to identify and advise on reporting, attest and assurance issues unique to employee benefit plans. The EBP Expert Panel is made up of 14 members who may serve up to three consecutive one-year terms. The Panel comprises members from small, medium, and large firms from various geographic regions throughout the country. Membership on the Expert Panel requires a minimum commitment of 75 to 100 volunteer hours per year. Candidates will be evaluated based on employee benefit plan audit experience, proven leadership qualities and skills, availability to participate in panel and task force activities, and active participation in their state CPA society or other similar activities.
EBPAQC Executive Committee Volunteer Changes
On behalf of the entire Center membership we would like to thank outgoing EBPAQC Executive Committee members Ilene Kassman, KPMG LLP and Michele Weldon, PwC, for their outstanding service on the committee and for contributing to the success of the Center during their years of volunteer service.
We welcome new Executive Committee members Steve Perazzoli, PwC, New York, NY and Beth Thompson, KPMG LLP, Houston, TX. Also continuing on the Executive Committee are Chair Jim Haubrock, Clark, Schaefer, Hackett & Co; Jennifer Allen, Crowe Horwath LLP; Doug Bertossi, CliftonLarsonAllen LLP; Sandi Carrier, Deloitte & Touche LLP. Monique Elliott, Elliott Group CPAs, PLLC, Charlotte, NC; Beth Garner, BDO, Atlanta, GA; Judy Goldberg, EY, Houston, TX; Melissa Herbert, Warren Averett; Travis Jack, Metz & Associates PLLC; John Nicolopoulos, RSM USA LLP; Jodi Rinne, HSMC Orizon, LLC; Debbie Smith, Grant Thornton LLP, Oakbrook Terrace, IL; Gwen Stoute, HoganTaylor LLP, Fayetteville, AR; and Wendy Terry, WithumSmith+Brown, PC, Orlando, FL.
We thank all of these members for contributing a significant amount of volunteer time and energy in helping EBPAQC members and overseeing the activities of the Center.
Employee Benefit Plans Expert Panel Volunteer Changes
The AICPA Employee Benefit Plans Expert Panel consists of volunteers whose primary role is to identify emerging EBP accounting and auditing issues, recommend appropriate action in addressing the issues, assist in developing AICPA EBP resources, and provide technical support to the Center's Executive Committee by participating as speakers on webinars and in reviewing Center tools.
We would like to thank outgoing Expert Panel members Kriste Naples-DeAngelo, EisnerAmper LLP; and David Torrillo, Torrillo and Associates LLP, for their service and contributions.
We welcome the following new members to the Expert Panel: Roland O'Brien, Novak Francella LLC, Bala Cynwyd, PA; and Tiana Wynn, SB & Company LLC, Hunt Valley, MD.
Continuing on the Expert Panel are: Chair, Beth Thompson, KPMG LLP; Darlene Bayardo, BDO; Eileen Brassil, Legacy Professionals LLP; Michelle Buckley, Meaden & Moore; Greg Clark, Gregory M. Clark, CPA; Catherine Daubeck, Deloitte & Touche LLP; Judy Goldberg, EY; Josie Hammond, RSM USA LLP; Chip Harris, RubinBrown LLP; Kathleen McLaughlin, Grant Thornton; Stacy Meyer, CliftonLarsonAllen LLP; and Michele Weldon, PwC.
Prepare for the 2019 EBPAQC Membership Requirements Compliance Questionnaire (Mandatory for All Member Firms)
In early November all member firm's Designated Audit Quality Partners (DAQP) as of September 30, 2019 will receive an email asking them to complete the firm's annual mandatory 2019 Membership Requirements Compliance Questionnaire (Compliance Questionnaire). The online Compliance Questionnaire will ask DAQPs to confirm their firm's compliance with the EBPAQC membership requirements as of September 30th. Firms are requested to complete the Compliance Questionnaire by November 30, 2019. You also will have the opportunity to provide feedback and suggestions on how the Center can improve its support of your firm's efforts in providing quality audit services to your clients.
The Compliance Questionnaire will ask you to verify or update your firm's DAQP and Administrative Contact information. The Administrative Contact is the individual in your firm who receives the Center dues invoice and also receives all Center Alerts (in addition to the DAQP). The Administrative Contact will default to the DAQP if the firm does not assign a separate individual.
The Compliance Questionnaire includes questions about your firm's CPE, staff training, internal inspection, peer review, and whether the firm's DAQP participated in the Mandatory EBPAQC Designated Audit Quality Partners 2019 Audit Planning Live Forum webinar.
Thank you in advance for completing the Compliance Questionnaire by the November 30 deadline, and for your continued commitment to EBP audit quality.
Here are some tips to help you prepare for completing your firm's questionnaire this year:
- Verify that all managers and partners in your firm's EBP audit practice have obtained 8 hours of employee benefit plan specific CPE within the last 3 years. If a manager or partner has not completed the requisite CPE, are they scheduled to either attend an appropriate CPE course, conference or self-study program to obtain the required CPE?
- Verify that your firm's DAQP has participated on the 2019 Annual Designated Audit Quality Partner Planning Webinar. If they have not participated yet, please have them listen to the archived webinar under CPE & Events on the Center website before completing the questionnaire.
- Review your firm's last internal inspection of your EBP audit practice. Was it completed during the last 12 months? If not, is your firm currently in the process of completing its internal inspection, or is it to be scheduled shortly?
- If this is your firm's peer review year, an annual internal inspection is still required. However, the inspection can be modified to avoid duplication of reviews of engagement working paper, report, and client's financial statements. See EBPAQC Membership Requirement Question and Answer No. 7 for more information.
- Verify that your firm's last peer review report has been posted on the AICPA's Public File.
- Review that your firm's policies and procedures as they relate to your firm's EBP audit practice are up-to-date and communicated to your EBP audit staff.
- You may want to review the full list of membership requirements and the membership Q & A on the Center website at www.aicpa.org/EBPAQC.
Sincerely,
AICPA Employee Benefit Plans Audit Quality Center |
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