Video: Purpose and Organization of the Trust Services Criteria

In this lesson, Nick Palazzolo, CPA, delves into the purpose and organization of the Trust Services Criteria, crucial standards set by the AICPA for evaluating the reliability and security of information systems, especially regarding technology like cloud computing. He explains their role in SOC reports, particularly SOC 2 and SOC 3, and contrasts these with SOC 1 reports, which focus on internal control over financial reporting. Nick highlights how these criteria align with the COSO framework, aiding in the application of a structured methodology across various processing components such as security, availability, and confidentiality. Throughout the session, he discusses the additional specific criteria for deeper control evaluation and the assurance these standards provide to service organizations and their stakeholders.

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Considerations Specific to Planning, Performing & Reporting on a SOC Engagement
Module: 2 Concepts, 30 Videos
Considerations Specific to Planning and Performing a SOC Engagement - Overview
1:09
Introduction to Considerations Specific to Planning and Performing a SOC Engagement
8:07
Purpose and Organization of the Trust Services Criteria
3:58
Subject Matters in Trust Services Criteria Reporting
5:13
Management Assertions in SOC Engagements
8:35
Intended Users of SOC 1, SOC 2, and SOC 3 Reports
5:16
Independence Considerations in SOC Engagements
3:39
Materiality in SOC Engagements
3:01
Risk Assessment for Service Organizations and Service Auditors
2:40
Criteria for a Vendor To Be Considered a Subservice Organization
5:42
Inclusive v. Carve-out Method in SOC Engagements
4:20
Service Commitments and System Requirements in SOC 2 Engagements
2:47
Subsequently Discovered Facts on SOC Engagements
6:25
Purpose and Common Sections of a System Description in SOC Engagements
3:31
Management's Description of an Entity's Cybersecurity Risk Management Program
3:52
Complementary User Entity Controls
4:22
Obtaining Management's Written Representations
4:07
Understanding the System in a SOC 2 Engagement
5:46
SOC 1 vs. SOC 2 Engagements
11:31
Considerations Specific to Planning and Performing a SOC Engagement - Summary
1:30
Considerations Specific to Planning and Performing a SOC Engagement - Practice Questions
5:08
Considerations Specific to Reporting on a SOC Engagement - Overview
0:59
Introduction to Considerations Specific to Reporting on a SOC Engagement
2:05
CUECs Effect on SOC Reports
5:31
Carve-out vs. Inclusive Method in Reporting on CSOCs
5:39
Types of Opinions and Report Modifications in the Presence of Deficiencies
11:47
Preparation of SOC 2 Reports
5:05
Form and Content of SOC 1 and SOC 2 Reports
4:49
Considerations Specific to Reporting on a SOC Engagement - Summary
1:42
Considerations Specific to Reporting on a SOC Engagement - Practice Questions
5:45