SOC 1 Reports - Structure, Usage and Review (Video) (Course Id 2603)

• Who is this course for?
  This course is designed for internal auditors, external auditors, compliance professionals, SOX compliance staff, and anyone involved in vendor risk management who needs to understand and rely on SOC 1 reports.

• What is this course about or what problem does this course solve?
  It provides a comprehensive overview of SOC 1 reports—when they are required, their structure, components, differences between Type I and Type II, and guidance to review and rely on them for SOX and financial audit purposes.

• How can the knowledge from this course be used?
  Participants can use the knowledge to interpret SOC 1 control objectives, assess user auditor vs. service auditor responsibilities, evaluate vendor controls, and effectively incorporate SOC 1 reports into audit and compliance workflows.

• Why is this course important to a CPA, Accountant, or IRS Enrolled Agent?
  Understanding SOC 1 reports is critical for reliance on third‑party service organizations’ controls when auditing financial statements or ensuring SOX compliance—key responsibilities of accountants and auditors.

• When is this course relevant or timely?
  The course was released and revised on July 30, 2025, reflecting current standards under SSAE 18 and NASBA registry approval—making it fully up‑to‑date and timely for firms needing current SOC 1 guidance.

• How is a course like this consumed or used?
  This is a self‑study video course (QAS Self Study) available via NASBA QAS with a final exam of 5 questions; upon achieving a minimum score of 70% within one year of purchase, the participant qualifies for 1.0 CPE credit.

This course provides a comprehensive overview of SOC 1 reports, focusing on when they are needed, how they are structured, and how to effectively review and rely on them for SOX and financial audit purposes. Participants will learn to differentiate between Type I and Type II reports, understand the key components of a SOC 1 report, and evaluate the responsibilities of user auditors and service auditors. This course is ideal for internal auditors, external auditors, compliance professionals, and anyone responsible for vendor risk management or SOX compliance.

Video - NASBA QAS - NASBA Registry - 2603

Course Learning Objectives

• Understand the purpose of SOC 1 reports and when they are required
• Describe the structure and contents of a SOC report
• Interpret control objectives and determine which are relevant
• Differentiate between user auditor responsibilities and service auditor responsibilities

Chapter 1 - SOC 1 Reports - Structure, Usage and Review

Chapter 1 Review Questions

Glossary