This session is part 1 of 2 of working through the planning and risk assessment process for the fundamental track case study and will continue in Session #19. These sessions include consideration of SOC 1 reports and certifications for limited scope audits.
Recognize necessary procedures to properly plan an employee benefit plan, through utilization of an example.
Recall risk assessment standards and linkage to planned procedures based on risk evaluation by audit area at the assertion level, utilizing examples of documentation tools.
Recognize when limited-scope audits are appropriate utilizing evaluation tool.
Identify a SOC 1 report and recall its components' (i.e., user controls) impact on planned procedures and risk assessment by walking through a SOC 1 evaluation.