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DTSTAMP:20260519T014235Z
DTSTART:20270115T150000Z
DTEND:20270115T170000Z
SUMMARY: Keys of SOC Reports: Following SSAE 18 Requirements
DESCRIPTION: Today's businesses have seen a dramatic increase in the use of outsourced providers to assist with executing processes From payroll\, accounts payable\, information technology\, benefit plan administration & many other core processes. These processes ultimately have an impact on an organization's internal control over financial reporting but also could impact compliance & operational issues

In 2011\, the Statement on Standards for Attestation Engagements (SSAE) 16 replaced the former Statement on Auditing Standards (SAS) 70. In May 2017\, a new standard\, SSAE 18\, superseded SSAE 16

The concepts covered in this course are referred to as a Service Organization Control Report (SOC). Organizations who utilize outsourced providers should understand the various types of SOC reports\, their intended use & their implication on a company's financial reporting process\, regardless of your status as a publicly traded or privately held organization. The process can be complicated to understand as a user organization. Currently\, several types of SOC Reports exist including:


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&#x09\;SOC 1: Type 1
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&#x09\;SOC 1: Type 2
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&#x09\;SOC 2: Type 1
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&#x09\;SOC 2: Type 2
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&#x09\;SOC 3
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&#x09\;Cybersecurity SOC
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This course speaks briefly to the transition From SAS 70 to SSAE 16 & now SSAE 18. However\, the focus is on the various Service Organization Control Reports\, their purposes & uses\n  
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