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The risks of quick‑turn SOC engagements and what CPAs should know
System and Organization Controls (SOC) reports are examinations performed by CPAs in accordance with the AICPA's Statements on Standards for Attestation Engagements to evaluate the controls over customer data that service organizations such as cloud providers or payroll processors have in place. SOC reports provide independent assurance to the service organization's customers, aka user entities, that those controls are suitably designed and operating effectively.
The entrance of technology vendors into the realm of SOC reporting has created some efficiencies, but it also has led to promises…
The skinny
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