Documenting auditor consideration of potential prohibited transactions

This non-authoritative EBPAQC tool assists auditors in documenting their consideration of possible prohibited transactions in an employee benefit plan audit.

This tool includes a prohibited transactions decision tree to help auditors determine whether a transaction with a party in interest is considered a prohibited transaction and is structured into five sections:

Section I — Prohibited transactions with parties in interest

Section II — Consideration of possible prohibited transactions

Section III — Communications with responsible parties

Section IV — Effect on