MYCPE ONE

Understanding SOC1_SOC2 Attestation Report 1 Credit 1 Credit

Oct 01, 2024, 11:00 AM EDT

Understanding SOC1_SOC2 Attestation Report 1 Credit 1 Credit

How Should Financial Statement Auditors and Other Relying Parties Use the Reports?

  • Blaise Wabo

    CISA, CPA/CITP, CPA (US)

  • Rating

    4.5

  • Reviewed on

    February, 2025

  • Subject Area

    Auditing

Select your learning mode

  • Access the course at your convenience
  • Take the assessment test
  • Get your certificate
  • Attend the live interactive session
  • Answer the polling questions
  • Get your certificate
Oct 01, 2024, 11:00 AM EDT

Access to this course is included with a MYCPE ONE subscription.

See how subscription works

AI Review Summary

Generated by AI based on all course reviews

Learning Objectives

  • To explain why SAS 70 evolved into SOC 1 and SOC 2 audit reports.
  • To identify why partners, investors, and vendors ask for SOC audits.
  • To review which types of organizations are good candidates for SOC audits. 
  • To discuss how to prepare for SOC audits.
  • To analyze how stakeholders should use the reports.

Course Overview

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:

  • Investors, auditors, business partners, vendors, clients, and prospects
  • Software vendors, payroll providers, collection companies, data centers, and cloud providers
  • Managed service providers, CPA firms, HR firms, law firms, and consulting firms

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.

On Demand Credits for All Qualifications

Live Webinar Credits for All Qualifications

License details Credits Status
Auditing for Certified Public Accountants (CPA-US) 1 CPE Approved
Internal Auditing for Certified Internal Auditors (CIA) 1 CPE Eligible
Auditing for Certified Fraud Examiner (CFE) 1 CPE Eligible
Auditing for Certified Management Accountants (CMA) 1 CPE Eligible
Auditing for Certification in Risk Management Assurance (CRMA) 1 CPE Eligible
Auditing for Certified Financial Forensics (CFF) 1 CPD Eligible
Auditing for Certified Government Financial Manager (CGFM) 1 CPE Eligible
Auditing for Certified Government Auditing Professional (CGAP) 1 CPE Eligible
Auditing for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Approved
Auditing for Internal Audit Practitioner (IAP) 1 CPE Eligible
Auditing for Certified Internal Controls Auditor (CICA) 1 CPE Eligible
Auditing for Qualification in Internal Audit Leadership (QIAL) 1 CPE Eligible
Auditing for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Approved
Auditing for Maine Licensed Public Accountant (ME-LPA) 1 CPE Approved
Auditing for Certified Controls Specialist (CCS) 1 CPE Eligible
License details Credits Status
Auditing for Certified Public Accountants (CPA-US) 1 CPE Approved
Internal Auditing for Certified Internal Auditors (CIA) 1 CPE Eligible
Auditing for Certified Fraud Examiner (CFE) 1 CPE Eligible
Auditing for Certified Management Accountants (CMA) 1 CPE Eligible
Auditing for Certification in Risk Management Assurance (CRMA) 1 CPE Eligible
Auditing for Certified Financial Forensics (CFF) 1 CPD Eligible
Auditing for Certified Government Financial Manager (CGFM) 1 CPE Eligible
Auditing for Certified Government Auditing Professional (CGAP) 1 CPE Eligible
Auditing for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Approved
Auditing for Internal Audit Practitioner (IAP) 1 CPE Eligible
Auditing for Certified Internal Controls Auditor (CICA) 1 CPE Eligible
Auditing for Qualification in Internal Audit Leadership (QIAL) 1 CPE Eligible
Auditing for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Approved
Auditing for Maine Licensed Public Accountant (ME-LPA) 1 CPE Approved
Auditing for Certified Controls Specialist (CCS) 1 CPE Eligible

Additional Information

Credit

1

Credit

1

Course Level

Intermediate

Instructional Method

QAS Self Study

Group Internet Based

Pre-requisites

None

Advance Preparation

None

NASBA APPROVED

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

MY-CPE LLC 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.

About Instructor

Blaise Wabo is a Knowledge Leader and Director at A-LIGN with more than 14 years of experience in security compliance and risk management. Joining A-LIGN in 2013, he launched the HITRUST/HIPAA and Healthcare Services practice and has led teams delivering over 500 SOC attestation reviews, 300+ HITRUST and HIPAA assessments, and 100+ NIST 800-53 and 800-171 assessments for Global 1000 and Fortune 500 clients.


Blaise holds CPA, CISA, CITP, CCSK, and CCSFP credentials, enriching his rare expertise at the intersection of accounting, technology, and security compliance. As a respected thought leader, he has published dozens of blogs and whitepapers and regularly speaks at conferences such as HIMSS, HITRUST, and ISACA. Blaise also contributes to diversity in the profession, chairs A-LIGN’s DEI Network, mentors through ISACA Denver, and volunteers in his community.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. Our courses qualify for credits with NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other professional organizations.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses accepted by NASBA and other professional organizations?

MY-CPE LLC courses are accepted for continuing education credit by various professional certification programs, including NASBA, IRS, CFP Board, and HRCI. MY-CPE LLC is also recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP® and SHRM-SCP® recertification activities.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course 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 professional organizations for compliance and reporting purposes.

How are credits reported to governing bodies?

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.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. Our courses qualify for credits with NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other professional organizations.

How do I earn credits through live webinars?

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.

Are the live webinars accepted by NASBA and other Professional Organizations?

MY-CPE LLC courses are accepted for continuing education credit by various professional certification programs, including NASBA, IRS, CFP Board, and HRCI. MY-CPE LLC is also recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP® and SHRM-SCP® recertification activities.

What are the requirements to maintain compliance with live webinar courses?

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.

How can I access my webinar completion certificates?

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 accepted for compliance and reporting purposes with NASBA, IRS, CFP Board, HRCI, SHRM (for PDCs), Payroll Org, FP Canada, and 25+ other professional organizations.

How are credits reported to governing bodies?

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.

Reviews and Ratings

out of 5

Excellent (61%)

Very Good (33%)

Average (6%)

Poor

Terrible

OM

Owen Mccafferty, CPA (US)

5

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!

OM

Owen Mccafferty, CPA (US)

5

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.

Recommended Courses

Auditing Inventory for Accuracy and Compliance

Apr 28, 12:30 PM EDT

  • CPA (US)
  • CIA
  • CFE
  • CMA
  • CGMA
  • CRMA
  • CPA/CFF
  • CGFM
  • CGAP
  • DE LPA
  • IAP
  • CICA
  • QIAL
  • IA LPA
  • CCS
  • ME LPA

Assurance Update: Getting Ready for 2026 and Beyond

Apr 28, 03:30 PM EDT

  • CPA (US)
  • CIA
  • CFE
  • CMA
  • CGMA
  • CRMA
  • CPA/CFF
  • CGFM
  • CGAP
  • DE LPA
  • IAP
  • CICA
  • QIAL
  • IA LPA
  • CCS
  • ME LPA

Property, Plant & Equipment: Effective Audit Procedures

Apr 28, 04:00 PM EDT

  • CPA (US)
  • CIA
  • CFE
  • CMA
  • CGMA
  • CRMA
  • CPA/CFF
  • CGFM
  • CGAP
  • DE LPA
  • IAP
  • CICA
  • QIAL
  • IA LPA
  • CCS
  • ME LPA

From Pennies to Profits: Cash Flow Secrets Revealed! - Part 2

Apr 29, 09:30 AM EDT

  • CPA (US)
  • CIA
  • CFE
  • CMA
  • CGMA
  • CVA
  • CPA/CFF
  • CFA
  • CGFM
  • DE LPA
  • IAP
  • FPAC
  • QIAL
  • CBA/MCBA
  • IA LPA
  • ME LPA
  • CIPM

SSARS and Nonattest Services for Stronger Quality Control

Apr 29, 11:30 AM EDT

  • CPA (US)
  • CIA
  • CFE
  • CMA
  • CRMA
  • CPA/CFF
  • CGFM
  • CGAP
  • DE LPA
  • IAP
  • CICA
  • QIAL
  • IA LPA
  • CCS
  • ME LPA

AP Invoice Fraud: Red Flags & Controls

Apr 29, 12:30 PM EDT

  • CPA (US)
  • CIA
  • CFE
  • CRMA
  • CPA/CFF
  • CGAP
  • DE LPA
  • IAP
  • CICA
  • MAFF
  • QIAL
  • IA LPA
  • CCS
  • ME LPA
Understanding SOC 1 & SOC 2 Attestation Reports

Inclusions

  • Multiple Credits

    Multiple Credits

    Earn continuing education credits with flexibility. Choose from live webinars, on-demand courses, e-books, or podcasts to fit your learning style and schedule.

  • Certifications & Reporting

    Certifications & Reporting

    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 - fastest in the industry.

  • Credit Tracker

    Credit Tracker

    Track and manage your compliance across all 50 states and over 100 designations. Our Credit Tracker keeps your CPE credits and compliance requirements always up-to-date.

  • Certificate Vault

    Certificate Vault

    Certificate Vault to upload, manage, and access certificates earned from various sources and an integrated credit tracker, allowing users to monitor and manage their credits conveniently for compliance.

  • Compliance Reminders

    Compliance Reminders

    Stay current with our automated reminder system. Receive timely alerts for your CPE requirements, ensuring you never miss a deadline.

  • Mobile App Access

    Mobile App Access

    The MYCPE ONE Mobile App allows you to learn on the go, providing access to educational content on Android and Apple iOS devices. You can learn anytime and anywhere, making it convenient for busy schedules.

  • Live Support

    Live Support

    Our support team is available via live chat, email, and phone from 9 AM to 5 PM ET. We're here to help with any questions or issues, ensuring you have a seamless experience.

Exclusive mobile
app for our unlimited
access subscribers

Get Started with Unlimited Learning

Select your plan, complete your payment, and access a world of knowledge.

Get Started Today

Start your journey towards learning and compliance.

card

$299$199 For 12 Months

Your information is securely encrypted using SSL

Get Started Today

Click Here

More Reasons to Subscribe

  • true true

    80% of Content Rated 4.5+ Stars

    High-quality content rated by professionals.
  • true true

    4X More Content at 1/3rd the Price

    Serious value compared to your regular provider!
  • true true

    Non-Sponsored Content

    Purely educational, unbiased content for your learning.
  • true true

    Monthly & Quarterly Updates

    Keeping you ahead of trends and changes.
  • true true

    Podcasts with Industry Leaders

    Learn and Earn CPE from experts on the go.
More Reasons