Webinar (AICPA): You Have a SOC 1® Report. Now What?

Description

Information is becoming more digitized, and electronic audit evidence is on the rise. Use of SOC 1® reports in financial statement audits will get more prevalent. User auditors, user entities and service auditor — don’t miss this.
As a financial statement auditor (user auditor), you must understand the essential information contained in SOC 1® reports to comply with GAAS in a financial statement audit. User entities such as management, or those charged with governance and internal auditors responsible for considering SOC 1® reports when assessing risks and systems of internal control will find this webcast beneficial. It will also be helpful for service auditors when considering what would be of interest to user entities.

Real-world examples build understanding (bold – subhead)

Each section of a SOC1® report is covered using real world examples in the webcast and would highlight key items, focus areas and high-risk areas.

Be better informed as a user entity or user auditor on identifying 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.

Attend this webcast 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.

Learning Objectives

*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.

Major Topics

*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

Provider
AICPA - Durham
Course Level
Basic
CPE Field of Study
Auditing
4
Who Should Attend

Financial statement 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 service organizations; Service auditors wanting to see the end-result of work performed in a SOC 1® examination

Instructor(s)
Renee Rampulla
Prerequisites

None

Advanced Preparation

This webinar is produced by AICPA. You will receive your login link/instructions and Certificate of Attendance directly from this third-party vendor. It is important that you review your COCPA confirmation for details on receiving your login instructions and COA from said vendor.

Location
Webinar
Event Information
When
Nov 3, 2021
8:30 am - 12:30 pm MDT
Location
Webinar
Total CPE Credits
4
Format
Webinar

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Webinar (AICPA): You Have a SOC 1® Report. Now What?


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