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Experienced In-Charge/Senior - Using a Service Organization and the Use of a Specialist Logo aicpa

  $89.00 - 109.00 |   CPE: 1.5 |   AICPA |   Sep 2019 |   Auditing |   AICPA Store
Who Will Benefit?
  • Experienced in-charge auditors
  • Audit seniors
  • Firms that want consistent training and level setting
Key Topics
  • Risk assessment
  • System and organization control (SOC) reports
  • Using a specialist in an audit
Learning Objectives

This course will prepare you to do the following:

  • Distinguish between type 1 and type 2 SOC 1® reports, when each type applies, and the required procedures when using each.
  • Identify the differences between an auditor's specialist or management's specialist and required procedures when either is used.

This CPE course can be purchased individually, or as a part of the Audit Staff Essentials - Experienced In-Charge/Senior training bundle.

The Committee of Sponsoring Organizations of the Treadway Commission's (COSO's) Internal Control—Integrated Framework (framework) speaks of the auditor's responsibility from inception of the transaction through to the financial statements. But what happens when the company's transactions leave the system? Should auditors be concerned about transactions once outside the system? The answer, of course, is, "Absolutely they should be concerned."

The goal of this module is to provide what you need to know about your responsibilities when your client engages a service organization. Further, auditors have often found it necessary, in complex or unfamiliar areas, to engage specialists to obtain the requisite knowledge or experience necessary to perform certain engagements. This module will explore how and when to refer to both areas and the related performance and documentation requirements in each. Also included is a discussion of the SOC2 reports regarding privacy.

Topics covered:
  • Assurance: Technical: Audit, Intermediate