29 CFR 2520.103-8 - Limitation on scope of accountant's examination.

Updated to:December 2005
 
CONTENT

TITLE 29 - LABOR

SUBTITLE B - REGULATIONS RELATING TO LABOR

CHAPTER XXV - EMPLOYEE BENEFITS SECURITY ADMINISTRATION, DEPARTMENT OF LABOR

SUBCHAPTER C - REPORTING AND DISCLOSURE UNDER THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974

PART 2520 - RULES AND REGULATIONS FOR REPORTING AND DISCLOSURE

subpart c - ANNUAL REPORT REQUIREMENTS

2520.103 - 8 - Limitation on scope of accountant's examination.

(a) General. Under the authority of section 103(a)(3)(C) of the Act, the examination and report of an independent qualified public accountant need not extend to any statement or information prepared and certified by a bank or similar institution or insurance carrier. A plan, trust or other entity which meets the requirements of paragraph (b) of this section is not required to have covered by the accountant's examination or report any of the information described in paragraph (c) of this section.

(b) Application. This section applies to any plan, trust or other entity some or all of the assets of which are held by a bank or similar institution or insurance carrier which is regulated and supervised and subject to periodic examination by a State or Federal agency.

(c) Excluded information. Any statements or information certified to by a bank or similar institution or insurance carrier described in paragraph (b) of this section, provided that the statements or information regarding assets so held are prepared and certified to by the bank or insurance carrier in accordance with 2520.1035.