Streamline your corporate stock programs using the Stock Administration Audit Work Program for effective risk management and compliance solutions. This sample highlights detailed procedures for planning and preparation, including reviewing stock administration policies, developing a project plan, and identifying key risk and control points. The document provides specific tasks for fieldwork, such as assessing recordkeeping, verifying distributions, and ensuring proper communication with plan participants.

It emphasizes the importance of internal controls, segregation of duties and compliance with tax rules. Additionally, the program includes steps for testing investment elections, deductions and benefit payments, as well as recommendations for improving administrative processes. By following this work program, you can systematically identify and address deficiencies, enhance process efficiencies, and ensure accurate and secure management of stock administration plans.

Sample questions include:

• Who is responsible for ensuring that all plan information is transmitted to the recordkeeper/custodian properly and timely for the plan valuations (e.g., census data, payroll deductions, etc.)?
• What medium is used to document plan recordkeeping transactions (e.g., forms or paperless)?
• What is the record retention policy for participant transaction requests?
• What method is used to determine estimated liabilities? Who determines estimated liabilities? How are estimates trued up to actuals at year end?