New Service Level of Engagement for Attestation Engagements (SSAE 18) (Currently Unavailable)

Author: Lynn Fountain

SSAE 18 is aimed to increase the usefulness and quality of Service Organization Control Reports (SOC), now referred to as System Organization Control Reports (SOC). The changes made to the standard requires companies to take more control and ownership of their own internal controls around the identification and classification of risk and appropriate management of third party vendor relationships. These changes, while, not overly burdensome, will help close the loop on key areas that industry professionals noted gaps in many service organization’s reports.

This on-demand course will examine the concepts of Service Organization Control Reports, performing readiness assessments, executing the SOC engagement, documenting and reporting on the engagement. We will also evaluate the various Types of SOC reports including Type I and Type II. Lastly, we will examine the requirements of the new standard for monitoring sub-service organizations.

Publication Date: July 2019

Designed For
CFO’s, Controllers, Financial professionals, Auditors, Legal professionals, Compliance professionals, Accounting professionals, and Board members.

Topics Covered

• Transition to SSAE 18
• Major Change Areas
• Important Considerations for SSAE 18
• SOC 1 Reports
• SOC 2 Reports
• Trust Service Criteria (TSC)
• SOC 3 Reports
• SSAE 16 vs. SSAE 18
• SSAE Reporting
• Physical Components of SSAE 18
• Readiness Assessment
• SSAE Deliverable
• Who Needs an SSAE Review

Learning Objectives

• Recognize the history of SOC reports and the transition of the SSAE standards
• Identify major change areas from SSAE 16/SSAE 18
• Describe important considerations for SSAE 18
• Recognize and apply concepts of SOC 1, SOC 2, SOC 3 reports along with Type I and Type II reports
• Identify the detail behind the Trust Service Criteria
• Recognize the requirements to prepare for a SOC engagement and a readiness assessment
• Identify the physical attributes required in an SSAE 18 report
• Differentiate SOC 1, SOC 2, and SOC 3 reports
• Describe the primary purpose for a readiness assessment

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Auditing (2 hours)

Program Prerequisites
None

Advance Preparation
None