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, 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 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.
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.
Financial statement auditors with experience in performing a risk assessment and tests of controls.
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.
- Renee Rampulla
Non-Member Price $219.00
Member Price $179.00