SAS 136 increases the need for error-free payroll files and impeccable compliance in areas like compensation, distributions, and vendors’ fees.
Auditing standard SAS 136 … [adds] new procedures to CPAs’ audits beginning December 15, 2021. The burden for producing the added plan-related documentation required will likely fall to employers’ human resources departments.
SAS 136 transfers a significant amount of liability for an audit’s accuracy from an auditor to a plan’s fiduciaries, increasing the need for error-free payroll files and impeccable compliance in areas like compensation, distributions, and vendors’ fees. MORE >>
CPAs Shift Audit Risk to Plan Fiduciaries
