NAA2316. How to start a SOC practice

Heard a lot about SOC? Could it be the rapid growth of SOC reports over the past 10 years? A 2020 survey of CPA firms indicated that the demand for SOC services was growing (and this continues today). SOC 2 engagements alone have increased by almost 50% from the previous two years. With that kind of growth, do you wonder what’s involved in starting a SOC practice for you or your firm? In this session, SOC SME Jeff Cook will discuss the key factors and decisions you need to consider to develop a SOC practice. This session will give an overview of the various offerings a SOC practice would have, what a SOC business model looks like, SOC practice implementation steps, how to determine scoping and pricing engagements, peer review considerations, and more. No prior SOC experience is necessary, and the information will benefit both CPAs and non-CPAs who are interested in learning more about the SOC space. Join Jeff as he dives into everything you’ll need to get started!

Learning Objectives:

• Recall about the various SOC engagements
• Indicate the steps for implementing a SOC practice
• Identify the scoping questions to ask clients
• Recognize what a SOC practice model looks like
• Distinguish the various resources available for SOC practitioners