SOC 1 reports will look nearly identical under SSAE 18 as they did under SSAE 16, and changes to the reports will be minor, so there is not much that service organizations will have to change, especially Holtzman Partners clients. However, the shift to SSAE 18 does result in 5 main changes.
The MHR case is the latest in a series of enforcement cases involving ICFR, and it emphasizes the point that the existence of a material weakness as of a particular date does not hinge upon on whether a material misstatement actually occurs.
Earlier this year the AICPA issued an update to the Trust Services Principles and Criteria (TSPC) impacting how SOC 2 and SOC 3 examinations are conducted and reported. It is essential for companies undergoing these examinations to understand the changes to the TSPC since they will significantly impact the examination process. The 2014 version of […]