29. SOC 101 for Auditors

Track: 
Accounting & Auditing
Yellow Book
Field of Study: 
Auditing
Auditing (Governmental)
CPE Credit: 
1.5
Knowledge Level: 
Intermediate
Advanced Preparation: 
None
Prerequisite: 
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
 
10:45AM-12:00PM

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


SESSION SPEAKER(S)