SOC for Service Organizations Deep Dive (Day 2)

Enhance your knowledge of SOC for service organizations examinations! Why is SOC reporting important? Outsourcing has become a trend. The use of t...

4/8/2022 9am - 2:30pm | Online | AICPA

Members: $105.00, Non-members: $130.00

CPE Categories: Auditing (5.5 CPE)

Description

Enhance your knowledge of SOC for service organizations examinations! Why is SOC reporting important? Outsourcing has become a trend. The use of technology is expanding rapidly. As a consequence, reporting on system and organization controls is becoming more prevalent, as user entities look to experienced service auditors like you to provide reliable reports on controls at service organizations. However, peer review commonly identifies deficiencies related to compliance with the attestation standards in SOC examinations. Find out what you need to know to provide reports user entities and auditors can trust while avoiding common mistakes. How can you prevent common missteps in SOC reporting? Familiarize yourself with authoritative and interpretive guidance applicable to SOC 1r and SOC 2r examinations. Apply the guidance appropriately in planning, executing, and reporting on SOC for service organizations examinations. How will this course help? This course dives into key aspects of planning, executing, and reporting on SOC for service organizations examinations. It references applicable guidance and presents several thought-provoking and practical activities. Instructors with significant SOC reporting experience share their knowledge to enable you to perform examinations in compliance with the attestation standards.

Target Audience

Managers, senior managers, and partners responsible for performing and managing their firms' SOC for service organizations engagements. Senior staff of firms specializing in SOC for service organizations engagements.

Course Objectives

Identify guidance that affects system and organization controls (SOC) for service organizations engagements.

Determine how to avoid common SOC for service organizations pitfalls based on peer review findings.

Assess the needs of a service organization to determine the appropriate SOC for service organizations engagement and suitability of criteria.

Apply your knowledge and skills in planning, executing, and reporting on a SOC for service organizations examination.

Subjects

Overview of SOC services and guidance

Types of SOC for service organizations engagements

Sections of the report, including the service auditor's opinion and testing and management's description and assertion

Consideration of subservice organizations, complementary user entity controls, and use of internal audit and specialists

Planning considerations related to engagement acceptance and continuance, scoping, risk assessment, and materiality

Assessment and documentation of design and operating effectiveness of controls

Types of opinions and concluding activities

Other topics of interest, such as SOC 2r+ reports, SOC 3r reports, and blockchain implications

Prerequisites

Substantial experience performing and managing staff on SOC 1r, SOC 2r, and SOC 3r engagements. Basic knowledge of the 2017 trust services criteria.