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Defined contribution plans
Sampling

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* When selecting a sample of participants to perform substantive audit procedures regarding benefit payments, what could be a possible strategy?

Develop a sample selection strategy by reviewing a list of benefit payments that is stratified between types of payments (for example, terminations, retirement, hardships, death).

A discovery sample of 25 could be tested to uncover deviations from the plan's processes; if errors in the original sample are discovered then an expanded sample can be selected.

The auditor can select a sample from a list of terminated employees.

Both of the first two options above. Depending on the audit risk assessment, either option could be valid.

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Defined contribution plans Sampling

Defined contribution plans Sampling

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Defined contribution plans
Sampling

Defined contribution plans
Sampling