The American Institute of CPAs (AICPA), CPA.com and CaseWare International Inc. today announced the launch of OnPoint EBP, a cloud solution designed to facilitate the efficient and effective performance of “limited scope” employee benefit plan audits.
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“This is one more step in our evolution of resources to support firms in their performance of quality services”
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.
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“The tools many auditors rely on today for employee benefit plan audits are inefficient, requiring manual data entry, redundant processes and outdated, on-premise technology,” said Erik Asgeirsson, president and CEO of CPA.com, the business and technology arm of the AICPA. “We’ve seen how modern, cloud-based solutions have transformed client accounting services, and OnPoint EBP brings many of the same elements of efficiency and quality to limited scope EBP audits.”
Technology and evolving standards are transforming the way audits are being conducted. The AICPA has been a leader in this area, particularly in its work to define and develop the audit of the future through projects such as the Dynamic Audit Solution (DAS). The AICPA has committed significant resources over the last six years to promote and improve the quality of audit engagements through the Enhancing Audit Quality initiative, a data-driven program to improve auditors’ performance through guidance, peer review and other measures.
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