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21WI-0400: You Have a SOC 1 Report -- Now What? (Webinar)

If you have questions about this event, please call us at 952-831-2707.

Monday, September 20, 2021
8:00am - 12:00pm Central Time
4 CPE (4 technical)

Information is becoming more digitized, and electronic audit evidence is on the rise. With this trend, the use of SOC 1® reports in financial statement audits will become more prevalent. As a financial statement auditor (user auditor), you must obtain an understanding of the essential information contained in SOC 1® reports for the purpose of complying with GAAS in a financial statement audit. This course may also benefit user entities -- management, those charged with governance, and internal auditors -- as it is a user entity's responsibility to consider SOC 1® reports when assessing risks and systems of internal control. Service auditors may also find this course helpful when considering what would be of interest to user entities. This course presents, through real-world examples, the contents of each section of a SOC 1® report, highlighting key items and areas of focus, as well as high-risk areas. As a user entity or user auditor, you will be better able to identify pertinent information that affects your entity or your audit. And as a service auditor, you will be better able to recognize what users are looking for. Take this course to ensure you are considering the implications for the financial statement audit of pertinent information in the SOC 1® report, including the implications for risk assessment and tests of controls, to comply with applicable standards.

Major subjects

  • Common deficiencies in the use of SOC 1® reports in financial statement audits
  • The importance of a SOC 1® report in a financial statement audit
  • Sections of a SOC 1® report, roles and responsibilities for each, and key information within each section
  • Implications of complementary subservice organization controls and user entity controls for the financial statement audit

Learning objective(s)

  • Apply your understanding of SOC 1® reports to effectively perform financial statement audits in compliance with applicable standards.
  • Identify pertinent information in a SOC 1® report and recognize its implications for risk assessment and tests of controls.

Who should take this program?

Financial statement auditors (user auditors) with experience in performing a risk assessment and tests of controls, Those charged with governance (such as management and audit committee members) and internal auditors of entities that outsource services to

Fees

Our records indicate you are a nonmember. If you register, you will be charged $219.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.
Standard Member Fee $179.00
checkmark Standard Nonmember Fee $219.00

More program information

Instructor Renee Rampulla, CPA, CGMA
Location Online
Area
of study
Accounting & audit
Field(s)
of study
Auditing - Technical (4.0)
Level Basic
Format Group Internet Based
Sponsor AICPA
NASBA ID#: 112891
Prerequisites Prereq. None
Advance
prep
None
Cancellation
policy
Receive a full refund if you cancel at least four business days before the event start date. Learn more

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If you have questions about this event, please call us at 952-831-2707.