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.
There are common management issues in employee benefit plans. Having the appropriate user controls in place will assure to plan management that policies and procedures are being followed.
As consistent with SAS 70 audits, service organizations can obtain Type I or Type II reports for both SOC 1 and SOC 2 audits.