Information for Accountants

The Agreed-Upon Procedures Guide, Sample Independent Accountant's Report, and sample client representation letter for 2023 calendar year reports are now available on the OSA website.

Note that legislation passed into law earlier this year increases the threshold at which an annual audit is required, from the current $500,000 in special fund assets or liabilities to $750,000. The change will become effective on December 31, 2023, and applies to audits of calendar year 2023 and thereafter.

Notices are being sent by email to those relief associations for whom we’ve completed our review of 2022 reporting forms, to confirm whether an audit or agreed-upon procedures engagement is required for 2023 reports filed with the OSA next year. If you have questions about how this law change may impact your relief association, please contact the OSA’s Pension Division.

A relief association with special fund assets of less than $750,000 and special fund liabilities of less than $750,000 and that has not exceeded this threshold in a prior year, is required to have its annual financial reporting form attested to by a certified public accountant in accordance with agreed-upon procedures prescribed by the OSA.

Access to reporting forms for accountants, auditors, and other consultants who work with relief associations expires at the end of each calendar year. Relief associations will need to complete the 2024 User Authorization Form to provide these individuals with access to reporting forms during the 2024 calendar year.

Published last in the November 2023 Pension Newsletter