In this video, we discuss attestation SOC engagement as covered on the Information Systems and Controls ISC CPA exam.
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SOC (System and Organization Controls) attestation engagement refers to an assessment performed by an independent auditor to evaluate an organization's internal controls related to financial reporting, data security, and operational effectiveness. The purpose of SOC attestation is to provide assurance to stakeholders, such as customers, regulators, and business partners, about the reliability and security of the organization's systems and processes.

There are three main types of SOC reports:

SOC 1: Focuses on controls relevant to financial reporting. It is commonly used for service organizations that provide services that could impact their clients' financial statements.
SOC 2: Concentrates on controls related to security, availability, processing integrity, confidentiality, and privacy of data. It is often used by technology and cloud service providers.
SOC 3: Similar to SOC 2 but provides a high-level overview of the organization's controls and can be freely distributed. It's often used for marketing purposes to demonstrate a commitment to security and reliability.
During a SOC attestation engagement, the auditor evaluates the design and operating effectiveness of the controls outlined by the organization and issues a report detailing their findings. This report can be used by stakeholders to assess the organization's control environment and make informed decisions about risk management and compliance.

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