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You Have a SOC 1® Report. Now What?
Audit & Assurance
Webcast

You Have a SOC 1® Report. Now What?

Identify pertinent information in a SOC 1 report and recognize its implications on risk assessment and audit procedures in accordance with GAAS when your client outsources services related to financial reporting to a service organization.

$179 - $219
Do you have an AICPA membership? Log in to apply your member discount.

Format

Webcast

NASBA Field of Study

Auditing

Level

Basic

CPE Credits

4

Author(s)

Renee Rampulla

Availability

Product Number

VCL4SOC121070

 Part of Webcast Pass
 Business & partner 
Product Details

Recognize the information that impacts your audit

Information is becoming more digitized, and electronic audit evidence is on the rise. Use of SOC 1® reports in financial statement audits will get more prevalent.

User auditors, user entities and service auditor — don’t miss this

As a financial statement auditor (user auditor), you must understand the essential information contained in SOC 1® reports to comply with GAAS in a financial statement audit. User entities such as management, or those charged with governance and internal auditors responsible for considering SOC 1® reports when assessing risks and systems of internal control will find this webcast beneficial. It will also be helpful for service auditors when considering what would be of interest to user entities.

Real-world examples build understanding

Each section of a SOC1® report is covered using real-world examples in the webcast and highlights key items, focus areas, and high-risk areas.

Be better informed as a user entity or user auditor on identifying 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 for.

Attend this webcast 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.

Key Topics

  • Common deficiencies in the use of SOC 1® reports in financial statement audits
  • The importance of a SOC 1® report in a financial statement audit
  • Sections of a SOC 1® report, roles and responsibilities for each, and key information within each section
  • Implications of complementary subservice organization controls and user entity controls for the financial statement audit

Learning Outcomes

  • 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.

Who Will Benefit

  • Financial statement auditors with experience in performing a risk assessment and tests of controls
  • Those charged with governance such as management and audit committee members, and internal auditors of entities that outsource services to service organizations
  • Service auditors wanting to see the end-result of work performed in a SOC 1® examination
Credit Info
CPE Credits
4
NASBA Field of Study
Auditing
Level
Basic
Prerequisites
None
Access
This is a digital product. With full paid access the content will be available to you for 3 months after purchase date.
Duration
4hr
Pricing
Do you have an AICPA membership? Log in to apply your member discount.
Nonmembers
$219.00
AICPA Members
$179.00

Group ordering for your team

2 to 5 registrants

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6+ registrants

We can help with group discounts. Call us at 1-800-634-6780 (option 1) or email us at salessupport@aicpa.org

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Speakers
Renee Rampulla
CPA
Renee Rampulla, CPA CGMA has over 30 years of professional experience. She writes and lectures on technical accounting and auditing issues. Renee has extensive experience in the auditing of public and privately held entities ranging from the manufacturing and service sectors, to financial services. She was a partner in a regional accounting firm in the northeast in charge of the firm’s accounting and auditing practice and their quality control group. She is the founder of Rampulla Advisory Services, LLC. Her clients include nationally recognized professional organizations, accounting firms, companies, publishers and others. By devoting several years of her career at both regional and Big Four accounting firms Renee accumulated a wealth of technical and practical knowledge. In addition, while working for the American Institute of Certified Public Accountants (AICPA), she performed professional ethics investigations; worked closely with senior technical committees; presented technical guidance before standard setters; and authored and updated several AICPA publications. Renee Rampulla is a frequently requested speaker and is an instructor and author of several continuing professional education (CPE) courses for the AICPA, the New York State Society of Certified Public Accountants’ (NYSSCPA) Foundation for Accounting Education (FAE), and other organizations, covering a variety of FASB and IFRS accounting guidance along with private and public company auditing standards. She has taught over 800 CPE courses. She is a five time recipient of the AICPA’s Outstanding Instructor Award and a recipient of the 2016 New Jersey Society of CPAs “Women of Note”. Renee Rampulla is a current member of AICPA Council and the AICPA’s Ethics Enforcement Committee. She has served as Vice President of Professional Issues for the NYSSCPA, is a past member of the NYSSCPA Executive Committee and former NYSSCPA Director at Large board member. Renee Rampulla also served as the chair of the NYSSCPA’s Professional Ethics Committee from 2015 – 2017, and in 2018 was the President of the NYSSCPA’s Staten Island Chapter. Previously she served in the capacity of several leadership positions for the NYSSCPA Staten Island chapter, including chapter Vice President. She is a member of the NYSSCPA’s Financial Accounting Standards Committee and Professional Liability Committee and a past member of the International Accounting and Auditing Committee. Renee chaired the NYSSCPA’s 2014 Nominating Committee and was a recent member of that committee in 2021. She has served on the New Jersey Society of CPA (NJCPA) Audit Committee from 2015 - 2018; was the 2012 – 2014 Chair of the NJCPA Accounting and Auditing Standards Interest Group and previously served as the 2011-2012 Vice-Chair. She has also served as co-chair of the NJCPA Accounting Standards and IFRS sub-committees of the Accounting and Auditing Standards Interest Group. Renee Rampulla currently chairs two NYSSCPA Task forces; the CPA Evolution Task Force and the CPA Exam Task Force. She also serves as the current issues chair of the National Conference of CPA Practitioners.
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The Association is dedicated to removing barriers to the accountancy profession and ensuring that all accountancy professionals and other members of the public with an interest in the profession or joining the profession, including those with disabilities, have access to the profession and the Association's website, educational materials, products, and services.The Association is committed to making professional learning accessible to all product users. This commitment is maintained in accordance with applicable law. For additional information, please refer to the Association's Website Accessibility Policy. As part of this commitment, this product is closed-captioned. For additional accommodation requests please contact adaaccessibility@aicpa-cima.com and indicate the product that you are interested in (title, etc.) and the requested accommodation(s): Audio/Visual/Other. A member of our team will be in contact with you promptly to make sure we meet your needs appropriately.

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You Have a SOC 1® Report. Now What?
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Nov 03, 2021
2:30pm6:30pm GMT
Dec 22, 2021
3:30pm7:30pm GMT
Nonmember Price
$219.00
Price excluding sales tax
$219.00
Do you have an AICPA membership? 
Log in to apply your member discount.
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