EBP audits: Time to implement SAS 136 (AU-C 703)

Auditors will be following Statement on Auditing Standards (SAS) 136, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA, to perform and report on employee benefit plan (EBP) financial statement audits. SAS 136, as amended, is codified in AU-C 703, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA, and is effective for audits of financial statements for periods ending on or after December 15, 2021. Early adoption