PWCEmployeeBenefits.docx

PWCEmployeeBenefits.docx

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PWCEmployeeBenefits

ExampleControlActivities

Info.ProcessingObjectives（CAVR）

PCAOBAssertions

AutomatedorManualcontrol1

EmployeeBenefits–ParticipantData

Participantdataareproperlyrecordedonatimelybasis.Employeebenefitinformationisperiodicallycomparedtoemployeepersonnelfileorotherwiseverified.

Participantforms.,enrollment,transfers,investmentallocation,etc.）arecontrolledandaremaintainedforfuturereference.

Accuracy,

Completeness

Valuationorallocation,

Completeness

Manual

Thenumberofplanparticipantsisreconciledusingenrollmentforms.

Accuracy,

Completeness

Valuationorallocation,

Completeness

Manual

Subsidiaryrecordsaremaintainedforparticipantswhoareactive,retired,orterminatedwithvestedbenefits.

Accuracy,

Completeness

Valuationorallocation,

Completeness

Manual

Planrecordsmaintainedbythesponsorarereconciledwithinformationmaintainedbythirdpartyserviceproviders.

Accuracy,

Completeness

Valuationorallocation,

Completeness

Manual

Participantdataareupdatedandreconciledtoemployers'personnelandpayrollrecords（orparticipatingemployers'inamultiemployerplan）.

Accuracy,

Completeness

Valuationorallocation,

Completeness

Manual

Participantsareencouragedtoreviewtransactionsinitiatedelectronicallyordirectlywiththethirdpartyadministrator.

Accuracy

Valuationorallocation

Manual

Accountbalancesandbenefitdataarefurnishedtoparticipantsonwrittenrequest.

Accuracy

Valuationorallocation

Manual

Participantlistisperiodicallymatchedtothelistofemployeesand/orretireesandwhereappropriateemployeeelectionsnottoparticipateareconfirmed.

Participantforms.,enrollment,transfers,investmentallocation,etc.）arecontrolledandaremaintainedforfuturereference.

Accuracy,

Completeness

Valuationorallocation,

Completeness

Manual

Subsidiaryrecordsaremaintainedforparticipantswhoareactive,retired,orterminatedwithvestedbenefits.Periodically,thesesubsidiaryrecordsareperiodicallyreconciledtosourcedocuments.

Accuracy,

Completeness

Valuationorallocation,

Completeness

Manual

Planrecordsmaintainedbythesponsorarereconciledwithinformationmaintainedbythirdpartyserviceproviders.

Accuracy,

Completeness

Valuationorallocation,

Completeness

Manual

Participantdataareupdatedandreconciledtoemployers'personnelandpayrollrecords（orparticipatingemployers'inamultiemployerplan）.

Accuracy,

Completeness

Valuationorallocation,

Completeness

Manual

Employeeparticipationrefusalsareretainedforfuturereference.

Accuracy

Valuationorallocation

Manual

Contributionsarerecordedattheappropriateamountandintheappropriateperiodonatimelybasis.

Sponsororemployerpayrollrecordsarecomparedwithcontributioncalculations.Inthecaseofmultiemployerplans,someformofperiodicpayrollauditisperformed.

Accuracy

Valuationorallocation,

Completeness

Manual

Initialcontrolsareestablishedovercontributionrecordsforbothemployerandparticipantcontributions.,salaryreductionamounts,aftertaxandrollovers）.

Accuracy,

Completeness

Valuationorallocation,

Completeness

Automated

Clericalaccuracyofcontributionformsischecked.

Accuracy

Valuationorallocation

Manual

Subsidiarycontributionrecordsarereconciledtothetrustee/assetcustodianorthirdpartyadministratorreports.

Accuracy,

Completeness

Valuationorallocation,

Completeness

Manual

Contributionformsarereconciledtocashreceiptsledgerandbankdeposits.

Accuracy,

Completeness

Valuationorallocation,

Completeness

Manual

Controltotalsforparticipantandemployercontributionsaremaintained.

Accuracy,

Completeness

Valuationorallocation,

Completeness

Manual

Contributionreceiptsareissuedtoparticipantscontainingnoticesrequestingreviewsofdiscrepancies.

Accuracy,

Completeness

Valuationorallocation,

Completeness

Manual

ParticipantcontributionsareremittedtothetrustwithinguidelinesprescribedbyDepartmentofLaborregulation.

N/A

N/A

N/A

Whenaserviceorganizationisutilized,controlsareinplacetoprovidereasonableassurancethatcontributionremittancesareappliedtotheappropriatePlanandparticipantaccountsandprocessedaccuratelyandcompletelybymoneytype.,contributionsversusloanrepayments）accordingtotheinvestmentoptionsselectedbytheparticipant.Confirmationnotices.,turnarounddocuments）andquarterlystatementsaremailedtoplanadministratorsandparticipants.Theseindividualsshouldhaveproceduresinplaceforreviewingthesedocumentsonatimelybasisforaccuracyandcompleteness.

Accuracy,

Completeness

Valuationorallocation,

Completeness,

Existence/Occurrence,

Rightsandobligations,

Presentationanddisclosure

Manual

Whenaserviceorganizationisutilized,planadministratorshavepoliciesandproceduresinplace,whichprovidereasonableassurancethattheirinputintotherecordkeepingsystemisaccurateandcomplete.Planadministratorsshouldhaveproceduresinplacetotimelyfollow-uponallreconcilingitems.

Restrictedaccess

N/A

Manual

Participanteligibilityisdeterminedinaccordancewiththeapprovedplaninstrument.Alleligibleindividuals,andonlysuchindividuals,areincludedinbenefitprograms.

Eligibilityisdefinedintheplaninstrument.

N/A

N/A

N/A

Enrollmentapplicationsorthirdpartyenrollmentreportsarereviewedandapprovedbytheplancommitteeoraresponsibleofficial.

Accuracy,

Completeness,

Validity

Valuationorallocation,

Completeness

Existence/Occurrence

Manual

Existenceandstatusofparticipantsisperiodicallyverifiedbyreferencetoexternalinformation.

Enrolledparticipantlistisperiodicallyagreedtotheparticipantrecords.Anyexceptionsareinvestigated.Priortoupdatingtherecordsaresponsibleofficialapprovestheupdate.

Accuracy,

Completeness

Valuationorallocation,

Completeness

Manual

Subsidiaryrecordsaremaintainedforparticipantswhoareactive,retired,orterminatedwithvestedbenefits.

Accuracy,

Completeness

Valuationorallocation,

Completeness

Manual

Accesstotheparticipantdatabaseandsupportingdataisrestricted.

Accesstocomputerizedcontributionrecordsislimitedtothosewithalogicalneedforsuchaccess.

Restrictedaccess

N/A

Automated

Physicalaccesstothecomputerfacilitycontaininghardware,peripherals,communicationsequipment,backupmediaandsensitiveoutputandformsisrestrictedtoauthorizedpersonnel.

Restrictedaccess

N/A

Manual

Formalproceduresforgrantingandterminatingaccesstocompanyfacilities,includingcomputercenter,existandarefollowed.

Restrictedaccess

N/A

Manual

Physicalaccesstoblankcheckstocks,printers,andsignaturefontsisrestrictedtoauthorizedpersonnel.Checklogsareusedtoconfirmchecksprintedandnumbersused.

Restrictedaccess

N/A

Manual

Logicalaccesssecurityisadministeredandmaintainedaccordingtomanagement'sintentionsandauthorization.

Restrictedaccess

N/A

Automated

Accesstothesystemisgrantedtoindividualsbysecurityadministrationpersonnelbasedonwrittenrequestforsuchauthorization.

Restrictedaccess

N/A

Automated

Accessrightstoterminatedortransferredemployeesareremovedormodifiedtimelybythesecurityadministrationpersonnelbaseduponwrittenrequestfromauthorizedmanagement.

Restrictedaccess

N/A

Manual

Accesstocomputerresourcessuchasapplicationprograms,datafiles,sensitiveutilitiesandsystemcommandsislimitedtoauthorizedindividuals.

Restrictedaccess

N/A

Automated

Accesstothesystemisgrantedtoeachuserviaauniqueuseridentificationandpassword.

Restrictedaccess

N/A

Automated

Accesstosystemsislimitedbaseduponjobresponsibilities.

Restrictedaccess

N/A

Automated

Theabilitytomodifyapplicationexecutableprogramsandproductiondatafilesislimitedtoauthorizedindividuals.

Restrictedaccess

N/A

Automated

Confirmationnoticesaresenttoparticipantstoconfirmaccuracyofadditionsandmodificationsofdata.Planadministratorsshouldhaveproceduresinplacetotimelyfollow-uponalldiscrepancies.

Accuracy

Valuationorallocation

Manual

Theparticipantreviewsconfirmations.

Accuracy

Accuracy

Manual

Appropriatepersonnelaretrainedinandregularlyinformedofchangesinthetermsoftheplans.

Responsiblepartiesareawareofandfamiliarwithdisclosurerequirements.

Completeness,

Accuracy

Presentation&disclosure

Manual

Changesindisclosurerequirementsaretimelycommunicatedtotheresponsibleparties.

Completeness,

Accuracy

Presentation&disclosure

Manual

Anappropriateofficial,withreferencetosupportingdocumentation,approvesalladditionstotheparticipantlist.

Theplancommitteeoraresponsibleofficialreviewsenrollmentapplicationsorthirdpartyenrollmentreports.

Accuracy,

Completeness,

Validity

Valuationorallocation,

Completeness

Existence/Occurrence

Manual

ControlObjectives

ExampleControlActivities

Info.ProcessingObjectives（CAVR）

PCAOBAssertions

AutomatedorManualcontrol1

EmployeeBenefits–Reporting

Actuarialvaluationsandotheractuariallydeterminedamountspreparedforpurposesofemployeebenefitplanaccountingand/ordisclosurereflectstheunderstandingandagreementoftheplancommitteeorresponsibleofficials.

Plancommitteeorotherresponsibleandknowledgeableofficialstimelydiscusswithanappropriatelylicensedactuarytheirreport,andagreetotheactuarialmethodsandsignificantassumptions.discountrate,longtermrateofreturn,methodologyforamortizationofactuarialgain