| Phase | Assigned role | Starts | Runs | Tasks |
|---|---|---|---|---|
| Planning | Senior manager | Day 0 | 10 days | Acceptance and continuance · Independence confirmation · Risk identification meeting |
| Fieldwork | Senior | Day 12 | 12 days | Participant data testing · Contributions · Distributions · Investments and fair value · Notes to the financial statements |
| Wrap-up | Senior manager | Day 26 | 5 days | Subsequent events review · Management representation letter |
| Detail review | Partner | Day 33 | 5 days | No tasks. The phase is the whole step. |
| Processing | Administration | Day 40 | 5 days | Form 5500 filing package |
Day 0 is the day the project opens. A phase names the role that carries it; the person follows from who the project names for that role.