29. SOC 101 for Auditors

Accounting & Auditing
Yellow Book
Field of Study: 
Auditing (Governmental)
CPE Credit: 
Knowledge Level: 
Advanced Preparation: 
Basic knowledge of not-for-profit operations, auditing, accounting and/or compliance requirements. General experience working in, or auditing, not-for-profits, including those NFPs audited under GAGAS.

Tuesday, June 19, 2018

This session will help auditors improve their usage of SOC reports in audit engagements, which should be in every auditor's toolkit with NFPs increasingly relying on third-party service providers for processing transactions. This session will include: - Overview of SOC reports, including the different types of reports and those that are relevant to a financial statement audit - Walkthrough of using a SOC report in an audit, including meeting the requirements in the auditing standards - Best practices for using SOC reports to reduce audit risk and increase audit efficiency

Learning Objectives:

  • Participants will learn about the various types of SOC reports
  • Session will provide attendees with information on the relevance of SOC reports in the audit process
  • Attendees will learn how to utilize SOC reports to add efficiency to their audit pr