Practice Aid: Using a SOC 1 Report in Audits of Employee Benefit Plans
by AICPA
2021-05-31 18:53:04
Practice Aid: Using a SOC 1 Report in Audits of Employee Benefit Plans
by AICPA
2021-05-31 18:53:04
"Employee benefit plan administrators commonly use third-party administrators or service organizations to process certain transactions on behalf of the plan. It's important for auditors to understand these service organizations. SOC 1 reports provide...
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"Employee benefit plan administrators commonly use third-party administrators or service organizations to process certain transactions on behalf of the plan. It's important for auditors to understand these service organizations. SOC 1 reports provide information to user auditors to assist them in understanding service organizations, including internal control, for the purposes of planning and performing an audit of a user entity's financial statements. This practice aid addresses how a SOC 1 report should be considered in the audit of an employee benefit plan and which audit procedures should be applied to the information in the SOC 1 report"--
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