Understanding and Evaluating Service Organization Controls for Financial Reporting (SOC 1) Report: Considerations for user auditors

In this seminar will discuss the importance of reviewing SOC 1 reports in order to better understand the services being provided, the effectiveness of the service organization’s controls and how they impact the service organization, the user entity (service recipient) and the audit. We will address key steps in fulfilling the user auditors’ responsibility of evaluating a SOC 1 report to determine if key relevant controls are designed effectively, placed into operation, and operating effectively to provide the user auditor with assurance about the controls that impact the underlying financial data.

Objectives: Upon completion of this course participants should be able to:

1. Recognize the importance of reviewing SOC 1 reports to better understand the services being provided.
2. Explain the effectiveness of the service organization’s controls and how they impact the service organization, the user entity (service recipient) and the audit.
3. Identify key steps in fulfilling the user auditors’ responsibility of evaluating a SOC 1 to provide the user auditor with assurance about the controls that impact the underlying financial data.

Instructional Delivery Method: Group Live

P. R. Field of Study: Accounting and Auditing

NASBA Field of Study: Accounting and Auditing

Pre-requisite: None

Advance Preparation: None

Level: Intermediate

Date: November 21, 2019

Registration: 8:15am - 9:00am                            Seminar: 9:00am - 12:00pm

Instructor: Yael O. Rivera Ortiz, CPA, Crowe PR PSC

Place: Colegio de CPA, Capital Center Building I, PH 2, Hato Rey

Materials: This course will be paperless and the materials will be distributed electronically. Download them through "Mi Perfil", on the Colegio's website, where will be available for seven days after the event. Electronic devices may be brought to the classroom to access the downloaded materials.

Electronic evaluation: Once you have registered your entry to this educational activity, you can quickly and easily access and complete the evaluation through "Mi Perfil". On our website "Home" page you will find detailed instructions for completing the form.

Notice: The Colegio de CPA reserves the right to substitute instructors and suspend a course due to insufficient enrollment or other causes beyond our control. We reserve the right to refuse admission. Space is limited. Registration is subject to the available slots. The tuition price for CPA applies to those who at the time of registration do not owe debts to the Colegio.

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