AAR2503. Navigating SOC 1 Reports

SOC 1 reports are essential for understanding the controls at service organizations that impact employee benefit plan audits—but using them correctly can be challenging. This session will dive into the most common errors auditors make when relying on SOC reports and provide strategies to avoid inspection findings related to their use. We’ll cover how to properly document and leverage SOC 1 reports in your audit process, ensuring compliance and audit quality. To bring it all to life, we’ll share real-world stories—“For the Love of SOC”—highlighting lessons learned from actual files. The session will also cover best practices for documenting SOC 1 reliance and integrating findings into the overall risk assessment. Designed for auditors and plan sponsors, this presentation will help demystify SOC 1 reports and enhance audit quality and compliance.


Learning Objectives:

  • Identify common errors auditors make when reviewing and relying on SOC 1 reports in employee benefit plan audits
  • Apply best practices to properly document and use SOC reports
  • Analyze real-world examples to understand practical challenges and solutions when incorporating SOC reports
Date/Time
–
CPE Credits
1.5
NASBA Field of Study
Auditing
Level
Intermediate
Prerequisites
3-5 Years
Advanced Preparation
None
Speakers
Image of Kerri Franz

Kerri Franz

Partner
Weaver, LLP
Image of Ingrid Boyd

Ingrid Boyd

CPA
Principal
Sikich