This series of courses will provide information and guidance on the three new reporting options on controls at a service organization that have replaced SAS 70 reports:
- SOC 1 reports on controls relevant to user entities internal control over financial reporting
- SOC 2 reports on controls over security, availability, processing integrity, confidentiality, or privacy
- SOC 3 reports, less-detailed but similar to SOC 2 reports
Objectives:
- Understand the various professional standards and guides available for examining and reporting on controls at a service organization
- Understand which SOC reporting framework to select for a particular engagement
- Better understand the SOC 1 reporting framework
- Focus on the differences between the SAS 70 report and the SOC 1 report
- Examine planning, performing, and reporting the SOC 1 engagement from an implementation perspective
- Better understand the SOC 2 and SOC 3 reporting frameworks
- Examine planning, performing, and reporting the SOC 2 engagement from an implementation perspective
- Review the unique aspects of SOC 3 reporting
FREE Financial Reporting Center Whitepaper on Service Organization Control (SOC)
Prerequisite: SOC 1 - Basic understanding of audits of service organizations; SOC 2 and SOC 3 - Completion of SOC 1, equivalent training, or experience in audits of service organizations
NASBA Field of Study: Auditing
Author/Moderator: John F. Hudson, CPA
Level: Intermediate/Advanced
Recommended CPE credit: 18
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