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AICPA and CPA.com Launch OnPoint EBP on CaseWare Cloud Platform

The American Institute of CPAs (AICPA), CPA.com and CaseWare International Inc. have launched OnPoint EBP, a cloud solution designed to facilitate the efficient and effective performance of “limited scope” employee benefit plan audits.

Jun 25th 2020
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OnPoint EBP is powered by the CaseWare Cloud platform and designed for audits of employee benefit plans pursuant to ERISA Section 103 (a)(3)(C). It combines AICPA-developed methodology, engagement management, analytics, advanced client collaboration tools and links to authoritative guidance within a single application.

There are close to 84,000 employee benefit plan audits conducted in the United States each year, nearly 70 percent of which are limited-scope audits. Of the 5,000 CPA firms that perform EBP audits, a little more than half do four or fewer engagements each year.

OnPoint EBP was designed to drive quality and efficiency through its unique Plan Profile, which functions as a scoping tool to identify specific features and nuances of the plan under audit. Among other advantages, the tool: 

  • Provides a guided approach to risk identification and assessment
  • Integrates diagnostics to indicate when an auditor’s response warrants additional consideration or when someone chooses a non-standard path
  • Automates drafting of financial statements and note disclosures as a permissible nonattest service
  • Streamlines audit processes with dynamic content and workflow
  • Facilitates collaboration with the client and engagement team

OnPoint EBP is commercially available to all firms through CPA.com and may be used for ERISA limited scope audits both currently and after the adoption of SAS 136 Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA.

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