SOC for Service Organizations Reporting Essentials

New to SOC reporting?

Many organizations outsource services for various reasons. They rely on controls at those service organizations for assurance.

A SOC for service organizations report on internal control related to the services provided by a service organization provides valuable information that users need to address and assess the risks and controls associated with outsourcing.

Patrick Morin, an experienced service auditor, will provide you with an overview of SOC for service organizations reporting. Obtain a basic understanding of SOC for service organizations examinations before learning how to perform an engagement or use a report.

Who Will Benefit

• Service auditors
• Service organization management
• Financial statement auditors
• Internal auditors
• Entities that outsource functions to service organizations

Key Topics

• Purposes of SOC 1®, SOC 2®, and SOC 3® reports
• Differences among the reports and their intended users
• Standards that are relevant and applicable to SOC 1, SOC 2, and SOC 3 reporting engagements
• Common peer review findings related to SOC engagements

Learning Outcomes

• Recall key information related to SOC for service organizations examinations.
• Differentiate between SOC 1, SOC 2, and SOC 3 reports.
• Identify the guidance that is relevant and applicable to SOC 1, SOC 2, and SOC 3 reporting engagements.