SOC 3 Reports - Purpose, Use Cases, and Practical Limits (Video) (Course Id 2607)

• Who is this course for?
  This course is for auditors, compliance professionals, risk managers, and anyone needing Continuing Professional Education (CPE) in the area of auditing and vendor risk management.

• What is this course about or what problem does this course solve?
  The course provides a practical understanding of SOC 3 reports, including their purpose, structure, and limitations. It helps professionals evaluate their usefulness in vendor risk management and compliance programs.

• How can the knowledge from this course be used?
  The knowledge can be applied when reviewing or evaluating SOC 3 reports for vendor assurance, helping professionals assess the reliability and limitations of third-party service providers.

• Why is this course important to a CPA, Accountant, or IRS Enrolled Agent?
  Understanding SOC 3 reports is important for ensuring that proper risk management and compliance procedures are followed, especially when evaluating third-party vendors or service providers.

• When is this course relevant or timely?
  This course is relevant when evaluating vendor risk and compliance in various sectors, especially when engaging in audits or assessments involving third-party assurance.

• How is a course like this consumed or used?
  This course is a video-based, self-paced QAS self-study course, enabling learners to complete it online at their convenience.

This course provides a clear and practical overview of SOC 3 reports, including their structure, intended audience, and real-world use cases. Participants will learn how SOC 3 reports differ from SOC 2, what components they include (and exclude), and how to evaluate their usefulness in vendor risk management and compliance programs. The course also covers Trust Services Criteria, the limitations of SOC 3 reports for SOX reliance, and red flags to watch for when reviewing publicly available assurance documentation.

Video - NASBA QAS - NASBA Registry - 2607

Course Learning Objectives

• Explain the purpose and limitations of SOC 3 reports
• Understand the Trust Services Criteria that are the basis of SOC 2 and SOC 3 reports
• Describe the components of a SOC 3 report and how they relate to SOC 2
• Recognize appropriate use cases for SOC 3 reports

Chapter 1 - SOC 3 Reports - Purpose, Use Cases, and Practical Limits

Chapter 1 Review Questions

Glossary/Index