Service Organizations - Reporting on Controls at a Service Organization Relevant To User Entities’

This updated and improved guide is designed to help CPAs effectively perform service organization control (SOC) 1 engagements under Statement on Standards for Attestation Engagements (SSAE) No. 16, Reporting on Controls at a Service Organization. With the growth in business specialization, outsourcing to service organizations has become increasingly popular, increasing the demand for SOC 1SM engagements. This guide will help you: * Gain a deeper understanding of Service Organization Control Guidance and common practice issues, giving you the foundational knowledge to effectively perform engagements. * Provide best in class services related to planning, performing, and reporting on a service auditor s engagement. * Successfully complete the transition from SAS No. 70, Service Organizations, to SSAE No. 16, Reporting on Controls at a Service Organization (issued in April 2010). * Understand the kinds of information auditors of the financial statements of user entities need from a service auditor s report. * Implement SSAE No. 16 requirement regarding obtaining a written assertion from management of a service organization by providing illustrative management assertion for a type 1 and type 2 report. * Provide management representation letters and control objectives for various types of service organizations. In addition, this guide contains over 20 illustrative service auditor s reports to help you with situations that may require modification of the report. This guide has been fully conformed to reflect changes resulting from the clarified auditing standards.