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      What information is missing from the Transamerica workpapers?

      This article summarizes information that is missing from each of the Transamerica workpapers in detail.

      • Contribution Allocation Testing:
        • The input report does not include the percent elected for allocation, so this information is blank in the AuditMiner workpaper for Transamerica.
      • Distribution Package  
        • The Distribution input report does not include the distribution fees, federal taxes, state taxes, loan default, forfeiture, net distribution, payee or amounts paid. AuditMiner has left the columns blank so they can be populated by the auditor, if deemed necessary, and the net distribution calculation will automatically update once populated.  
      • Investment Disclosure Support 
        • The input report does not include ticker symbol, current year shares, current year price, or current year cost of the investments.
      • Investment Income Allocation
        • The fund return is not calculated as there are no ticker symbols in the input reports
      •  Loan Package
        • If there are multiple loans issued within the Plan Year, a second line in the population was created for the participant to capture information for both issued loans. If the loans issued in the same year are for the same amount, AuditMiner is unable match up the loan information between reports and the data will be blank.  
        •  Loan number, original loan date, original loan amount, payment amount, interest rate, maturity date and loan status are obtained from the Loan Register report for Loans Issued during the plan year. AuditMiner is unable to match loan information for loans issued prior to the plan year from the Loan Register.  
        • The input report does not include unpaid accrued interest or loan default. 
        •  If a participant had a loan issued and distributed during the plan year, it will not appear on the Loan Register.  Loans come off the Loan Register only when offset with a distribution. This creates a difference between the Loan Register and the Participant Data File input reports.  
      • Participant Activity Detail Package
        • Loan funds are excluded from the Participant Activity Detail Package 
      •  Plan Analytics 
        • Contributions include the Contribution Refunds from the Participant Activity Detail Package. 
      •  Rollovers Package
        • The rollover input report does not include rollover date, participant elected allocation percent, or the qualified institution.