Understanding SOC1_SOC2 Attestation Report 1 Credit
How Should Financial Statement Auditors and Other Relying Parties Use the Reports?
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Oct 01, 11:00 AM
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Organizations that provide services to other entities need a way to manage risks associated with outsourcing those services.
The original standard for reducing that risk was known as a SAS 70 Attestation which was performed by a CPA. The result was a report used to demonstrate the effectiveness of internal controls over financial reporting. Organizations began to use the report as evidence that a vendor was secure and safe to work with. When the SSAE 16 report was introduced, it was renamed Systems and Organization Controls 1 (SOC 1) and continued to address financial criteria. SOC 2 was created at the same time to specifically address security, privacy, availability, integrity, and confidentiality. In other words, everything else that doesn't affect financial reporting.
Examples of organizations that might be required to perform a SOC 1 and or SOC 2 Attestation:
If your organization hosts financial information or has a system or process that impacts the financial statements of a client, then SOC 1 is for you. If you are a third-party provider with a system used by other organizations, a SOC 2 Attestation could be requested from you. It's not uncommon to need both SOC 1 and 2 Attestation reports.
Join this CPE Auditing webinar, attendees will learn more about how to get ready for a SOC 1 and SOC 2 assessment and how to use the reports.
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Blaise is the Healthcare and Financial Services Knowledge Leader at A-LIGN and has over 12 years of experience in Security Compliance and Risk Management. He joined A-LIGN in 2013 and started the HITRUST/HIPAA and Healthcare Services practice in 2015. Having a very unique background as a CPA, CISA, CITP, CCSK, and CCSFP Blaise has performed over 500 SOC attestation reviews and over 300 HITRUST/HIPAA assessments for Global 1000 and Fortune 500 clients in various industries.
Blaise is also a sought-after speaker and has delivered several speaking engagements at well-renowned conferences such as HIMSS, HITRUST and ISACA. Blaise has also written dozens of blogs and whitepapers on the topics of Security Compliance, Telemedicine, Blockchain technology and Third-Party Risk Management.
Prior to joining A-LIGN, Blaise was a Senior Consultant at Century Payments, Inc., and an Advisory Associate at KPMG.
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To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.
Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.
To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
Audits of System and Organization Controls 1 and 2 was a very good refresher course in the pronouncements and the impact of Sarbanes Oakley. I deeply appreciate Blaise's capacity to keep the audience interested in a rather challenging topic. Great way to gain auditing refreshment of prior knowledge studied but never utilized. Thank you!
This is a great seminar as a refresher course for SOC 1, 2, and 3. The course is especially valuable for those who rarely utilize SOC consultation, but is a very good and understandable narative as part of the CPA's learning experience. Thank you.
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