In this video, we cover management responsibilities under SOC 2 engagement as covered on Information Systems and Controls ISC CPA exam.
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Under a SOC 2 (Service Organization Control 2) engagement, management has several key responsibilities to ensure the successful completion of the audit and the issuance of the SOC 2 report. Here are some of the management responsibilities typically associated with a SOC 2 engagement:

Establishing Trust Service Criteria (TSC): Management is responsible for determining which Trust Service Criteria (TSC) are relevant to their organization's services. TSCs include security, availability, processing integrity, confidentiality, and privacy.
Defining Control Objectives and Activities: Management must define specific control objectives and activities that address the selected Trust Service Criteria. These controls should effectively mitigate risks and ensure compliance with relevant standards and regulations.
Implementing Controls: Management is responsible for implementing and operating controls effectively throughout the reporting period. This includes ensuring that controls are adequately designed, documented, and consistently applied.
Providing Evidence of Control Effectiveness: Management must provide evidence to the auditor demonstrating the effectiveness of controls throughout the reporting period. This may include documentation, policies, procedures, system configurations, and other evidence of control implementation and operation.
Cooperating with the Auditor: Management should cooperate with the auditor throughout the SOC 2 engagement, providing access to relevant personnel, systems, facilities, and documentation. They should also respond promptly to auditor inquiries and requests for information.
Remediating Control Deficiencies: If control deficiencies are identified during the audit, management is responsible for taking corrective action to remediate these deficiencies in a timely manner. This may involve implementing new controls, improving existing controls, or addressing underlying issues.
Reviewing Draft SOC 2 Report: Management should review the draft SOC 2 report prepared by the auditor to ensure accuracy and completeness. They should provide feedback and address any inaccuracies or omissions before the report is finalized.
Issuing Management Assertion: Management is required to provide a written assertion in the SOC 2 report, stating that the description of the system and the effectiveness of controls are fairly presented and accurate.
Maintaining Confidentiality and Integrity: Management should ensure the confidentiality and integrity of information provided to the auditor during the SOC 2 engagement. This includes protecting sensitive data and restricting access to authorized individuals.
Continuous Monitoring and Improvement: Beyond the initial SOC 2 engagement, management should continue to monitor and improve controls to address changing risks and requirements. Regular assessments and audits help ensure ongoing compliance with SOC 2 standards.
Overall, management plays a critical role in the SOC 2 engagement process, from defining the scope and objectives to providing evidence of control effectiveness and ensuring ongoing compliance with relevant standards and regulations.


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