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What is a SOC Audit and When Do You Need a SOC Report

  • Accountant
  • CRMA
  • CPA/CFF
  • CFE
  • CGAP
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • IAP
  • QIAL
  • CBA/MCBA
  • CFIRS
  • CWS

Published: May, 2022

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  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • What is a service organization
    22 mins
  • Types of SOC reports
    32 mins
  • Trust Services criteria
    46 mins
  • Trust services criteria for general use
    70 mins
  • SOC for cybersecurity
    80 mins

Course Description

As organizations out-source financially significant business processes, auditors need to rely on service organization auditors to obtain sufficient evidence related to the financial transactions performed by these outsourcing organizations. This evidence is frequently obtained by requesting a Service Organization Control (SOC) report that addresses the internal controls that operate at the service organization.

As these SOC reports are a critical part of audit evidence, it is vital that both auditors and those using the service organization have a thorough understanding of the components, uses, and issues related to using a SOC report in an audit.

In this online CPE course, Speaker Robert Minniti will discuss various types of SOC reports and when organizations should obtain a SOC report. He will discuss reviewing a SOC report to determine if the vendor meets the internal control requirements your company has established. He will also discuss the new Cybersecurity SOC report.

This CPE Audit Course is designed for individuals who would like to obtain a basic understanding of SOC reports.

If you would like to explore leading practices in internal control, Certification in Internal Audit Leading Practices might interest you. 

Learning Objectives

  • To obtain a basic understanding of SOC audit.
  • To identify the different types of SOC reports.
  • To determine when a SOC report is needed.
  • To discuss the new Cybersecurity SOC report.

Recommended For

  • This Online CPE Conference is recommended for CPA (US), CIA, IAP, QIAL, CMA, CFF, CFE, CVA, CGFM, CBA/ MCBA, CRMA, CPA-CA, CGAP, CFIRS, CWS Accounting firms, and Accounting professionals would like to obtain a basic understanding of SOC reports.

Who Should Attend?

  • Auditors
  • Certified Fraud Examiner
  • Certified Public Accountant (CPA)
  • Certified Valuation Analysts
  • CPA (Industry)
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Cybersecurity Pros
  • Forensic Auditor
  • Fraud & Forensic Auditor
  • Fraud Analyst
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2 General Credit of Auditing for Accountant/Bookkeeper/Tax Professionals
  • 2 CPE Credit of Auditing for Certification in Risk Management Assurance (CRMA)
  • 2 CPD Credit of Auditing for Certified Financial Forensics (CFF)
  • 2 CPE Credit of Auditing for Certified Fraud Examiner (CFE)
  • 2 CPE Credit of Auditing for Certified Government Auditing Professional (CGAP)
  • 2 CPE Credit of Auditing for Certified Government Financial Manager (CGFM)
  • 2 CPE Credit of Internal Auditing for Certified Internal Auditors (CIA)
  • 2 CPE Credit of Auditing for Certified Management Accountants (CMA)
  • 2 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
  • 2 CPE Credit of Auditing for Certified Valuation Analyst (CVA)
  • 2 CPE Credit of Auditing for Internal Audit Practitioner (IAP)
  • 2 CPE Credit of Auditing for Qualification in Internal Audit Leadership (QIAL)
  • 2 CPE Credit of Auditing for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 2 CE Credit for Certified Wealth Strategist (CWS)

Additional details

  • Course Level :
    Basic
  • Credits :
    2
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Dr. Robert Minniti

President, Minniti CPA LLC

Dr. Minniti is the President and Owner of Minniti CPA, LLC. Dr. Minniti is a Certified Public Accountant, Certified Forensic Accountant, Certified Fraud Examiner, Certified Valuation Analyst, Certified in Financial Forensics, Master Analyst in Financial Forensics, Chartered Global Management Accountant, and is a licensed private investigator in the state of Arizona. Dr. Minniti received his doctoral degree in business administration from Walden University, received his MBA degree and Graduate Certificate in Accounting from DeVry University’s Keller Graduate School of Management, and received his Bachelor of Science in Business Administration degree from the University of Phoenix. Dr. Minniti taught graduate and undergraduate courses in forensic accounting at DeVry University, Grand Canyon University, Kaplan University, Northwestern University, and the University of Phoenix.

He designed graduate and undergraduate courses for Grand Canyon University, Northwestern University, and Anthem College. He is a writer and public speaker. He has experience in forensic accounting, fraud examinations, financial audits, internal audits, compliance audits, real estate valuations, business valuations, internal control development, business continuation planning, risk management, financial forecasting, and Sarbanes-Oxley compliance work. Dr. Minniti is an instructor teaching continuing professional education classes for the American Institute of Certified Public Accountants, Compliance Online, CPE Link/CCH . AccountingEd, Global Compliance Panel, Clear Law Institute, CPE Solutions, Canopy CPE, The Institute of Management Accountants, the National Association of Valuators and Analysts, the Association of Certified Fraud Examiners, the Institute of Internal Auditors, and various state CPA Societies.

About Company

Minniti CPA LLC

www.minniticpallc.com

MINNITI CPA LLC is seeking professional, hard-working, licensed CPAs with at least four years of experience.

The Firm demands independence, integrity, objectivity, competence and due care from all of its personnel in the conduct of its engagements. Our Firm is structured to provide leadership in achieving high quality professional performance while maintaining the concept of individual responsibility. Policies and procedures have been established providing assurance that professional engagements are properly planned and executed. Decisions are based on the substance of issues, not on form.

Our policies and procedures designate Partners of the Firm for consultation on significant ethical, technical and industry questions. The policies and procedures are designed to assure that clients receive the best professional services we can provide. We continually keep in mind the public interest. We expect our Partners and Associates to identify and resolve all important engagement issues.

The job requires high level tax preparation skills, superior tax research and problem solving abilities, broad software knowledge, and excellent written and oral communication skills. We have a team approach to provide high quality client service for tax compliance, planning, financial statements, and general business consulting.

Faq

FAQs content

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  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.6

18 Ratings

Excellent

12

Very Good

4

Average

2

Poor

0

Terrible

0

BS

Brian Smith, CPA (US)

May 26th, 2022

While I refer to SOC reports (typically SOC 1 and SOC 2), this was the first CPE course that I have found that dealt with them so directly. VEry helpful.

KG

Kris Greninger, CIA, PgMP

Aug 21st, 2022

I liked the cadence of this course, great information about the SOC reports.

RW

Randy Williams, CPA (US)

May 6th, 2022

Comments below.

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