On September 7th, 2018 the American Institute of Certified Public Accountants (AICPA) issued a working draft of Chapter X and Appendixes X,Y, and Z for inclusion in The Audit and Accounting Guide Employee Benefit Plans.

The working draft of Chapter X on multiemployer benefit plans and the related appendixes on various illustrations of financial statement has been developed by the AICPA multiemployer plans task force to assist responsible parties with the preparation of such financial statements including footnotes in conformity with generally accepted accounting principles and to assist auditors in auditing and reporting on such financial statements.

 The financial statements discussed include multiemployer defined benefit pension plans, multiemployer health and welfare plans and multiemployer apprenticeship plans.

 The purpose of the working draft is to solicit comments from preparers, auditors, and users of such plan financial statements. The Financial Reporting Executive Committee (FINREC) is spreading this process and has invited comments by November 6th, 2018.