Surgent's System and Organization Controls (SOC) Engagements

Overview

In today’s interconnected world, safeguarding information systems is crucial. This course will provide a comprehensive understanding of SOC engagements, exploring the types of reports (SOC 1®, SOC 2®, and SOC 3®) and the related management assertions. The use of the reports for internal controls over financial reporting (ICFR) and operations and compliance will be analyzed. This course equips accounting professionals with the knowledge to effectively lead in compliance reporting.

Highlights

• Purpose and organization of the Trust Services Criteria
• Management assertions specific to different SOC engagement types
• Intended users of SOC 1®, SOC 2®, and SOC 3® reports
• Determination and use of materiality in SOC engagements
• Criteria for considering a vendor as a subservice organization
• Inclusive vs. carve-out method for subservice organizations
• Service commitments and system requirements in SOC 2® engagements
• Appropriate form and content of SOC reports

Prerequisites

Basic understanding of auditing principles

Designed For

Experienced CPAs, CITP designation holders and aspirants, and accountants seeking a greater understanding of information systems and controls

Objectives

• Explain the purpose of the Trust Services Criteria and its organization
• Understand the purpose of SOC reports and the roles of key players and identify management assertions specific to different SOC engagement types
• Preparation

  None