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AuditMiner Workpapers General Information

This disclaimer and general overview applies to all articles contained in the Workpaper Guides section of our Resource Center

Disclaimer

The AuditMiner tool and workpaper guide has not been peer reviewed. The workpapers, including procedure steps, may not be appropriate for every scenario. The auditor is required to use judgment based on experience and knowledge of plan to determine if, when, and how to use the workpaper guide and procedures within. The conclusions on all testing workpapers will need to be updated for any exceptions or discrepancies identified by the auditor.

Overview

The Workpaper Guides were created to be used as a reference for AuditMiner customers. The guide explains the purpose of each workpaper, where the auditor can find the audit procedures in the AICPA Employee Benefit Plan Audit & Accounting Guide (AAG-EBP), and addresses frequently asked questions.

The data for the AuditMiner workpapers is obtained from the recordkeeper input reports you provide. The recordkeeper maintains the activity posted to the participants’ accounts and allocates plan activity. You can find the list of recordkeepers that AuditMiner has integrations with here.

If you have any questions or feedback, please email support@auditminer.com.

General Workpaper Information

  • The AuditMiner Workpapers are provided as fully editable Excel files for your firm to use as standardized workpapers in your EBP engagements.
  • Any font in blue or parenthesis in the workpapers are generally intended to be updated by the auditor.
  • AuditMiner leaves all formulas visible in our workpapers for transparency and convenience.

Testing Workpapers

AuditMiner produces up to 5 Testing Workpapers per engagement: Contribution Allocation, Investment Income Allocation, Distributions, Loans and Rollovers. These workpapers contain the following tabs.

Notes

The Notes tab outlines the workpaper’s purpose, lists the audit procedures performed, and provides a templated workpaper conclusion. The system also documents the sample methodology selected by the auditor during the engagement set up process. 
 
The Notes tab may also be used by engagement teams to add additional audit documentation such as notes and tickmarks that describe work performed by the auditor. The system automatically includes a template Tickmark Legend. Engagement teams may use the AuditMiner template or their own documentation that is standard to their firm or procedures. 
 

Testing

The Testing tab contains the sample selected per the sampling methodology setup in AuditMiner and summarize on the Notes tab; any relevant columns for necessary for testing; and an attribute testing column for each procedure on the Notes tab for tickmarking.

Population

The full population can be found on the Population tab for the Distributions, Loans, and Rollovers workpapers. For Contribution Allocation and Investement Income Allocation, the Notes tab in these workpapers will direct you to use the Participant Activity Detail produced by AuditMiner as the population.