Financial Literacy Education
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Source: AccountingWeb Corporations are required to comply with ERISA-related fiduciary obligations, one of which is financial literacy education for employees in company-sponsored retirement plans. CPAs are well positioned to assist clients, and to provide financial literacy education to clients’ employees. By offering this service, CPAs can gain exposure to large numbers of prospective clients. If CPAs don’t offer this service, their clients may find other CPAs that do. The Department of Labor and the AICPA recently announced they have partnered in a national campaign to educate employers and service providers about their fiduciary responsibilities under the Employee Retirement Income Security Act. (see http://www.aicpa.org/pubs/cpaltr/jul2004/dol.htm Information on the AICPA “360 Degrees of Financial Literacy,” program can be found at: http://www.360financialliteracy.org/. From AccountingWeb, |