System and Organization Controls (SOC) Reporting

Agenda

Understanding a SOC 1

• Definition and Purpose of a SOC 1 Report
• Overview of the Audit Process for SOC 1 Reports
• Explanation of the Control Objectives and Key Focus Areas in SOC 1 Reports
• Examples of Industries and Organizations That Typically Require SOC 1 Reports

Understanding a SOC 2

• Definition and Purpose of a SOC 2 Report
• Explanation of the Five Trust Service Criteria: Security, Availability, Processing Integrity, Confidentiality, and Privacy
• Overview of the Audit Process for SOC 2 Reports
• Example of Control Areas and Best Practices Covered in SOC 2 Reports
• Industries and Organizations That Commonly Request SOC 2 Reports

Key Benefits and Use Cases

• Discussion on the Benefits of Receiving SOC 1 and SOC 2 Reports
• Examples of How SOC 1 and SOC 2 Reports Can Enhance Trust, Credibility, and Compliance
• Use Cases and Scenarios Where Organizations Commonly Utilize SOC 1 and SOC 2 Reports

Preparing for a SOC 1 and SOC 2 Audit

• Overview of the Necessary Preparations and Documentation Required for a Successful Audit
• Tips for Selecting the Right Audit Firm and Engagement With Auditors
• Commons Challenges and How to Address Them During the Audit Process
• Strategies for Maintaining Compliance Between Audit Period

Understanding a SOC 3

• Definition and Purpose of a SOC 3 Report
• Restricted Reports vs. General Use Reports

Credits

Faculty

Jaclynn Finney

Linford & Company, LLP

• Partner, Linford & Company
• Over ten years of experience in internal control-based audit, project management, attestation, and assurance services
• Spent a number of years supporting the Department of the Navy directly and as a contractor with KPMG
• Has held responsibility for a significant number of internal control reviews, IT general control reviews, and performing data analytics
• Certified Information Systems Auditor (CISA)
• B.S. degree in accounting and finance, Old Dominion University

Hilary Stavrakas

Linford & Company, LLP

• Partner, Linford & Company
• Eight years of IT audit and assurance experience
• Previously worked for Deloitte managing audit readiness assessments, Sarbanes-Oxley 404 and SOC examinations, and complex remediation procedures
• Certified Information Systems Auditor (CISA)
• M.Acc. degree, University of Colorado-Denver; bachelor’s degree in business administration, Colorado State University