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 (user
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 may also benefit user entities — management, those charged
with governance, and internal auditors — as it is a user entity’s responsibility
to consider SOC 1® reports when assessing risks and systems of internal control.
Service auditors may also find this course helpful when considering what would
be of interest to user entities.
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
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.
- 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.