The Form 5500, Annual Return/Report of Employee Benefit Plans, and schedules may provide useful information to auditors to help them better understand the plan and assess whether information in the plan’s financial statements is properly reported.
This non-authoritative Employee Benefit Plan Audit Quality Center (EBPAQC) practice aid provides:
An overview of the Form 5500 Series
Non-authoritative tips and considerations for auditors in understanding the Form 5500 and schedules
How information in the Form 5500 and schedules may relate to the plan’s financial statements