SSAE 18 Definition - SOC 1 Reports

SSAE 18 is commonly defined as a Service Organization Control Report #1 or SOC 1 Report.  SOC 1 reports are performed and issued undert the Statement on Standards for Attestation Engagements (SSAE) No. 18 Reporting on Controls at a Service Organization (AICPA, Professional Standards, AT sec. 801) establishes the requirements and guidance for reporting on controls at a service organization rlvant to user entities' internal control over financial reporting. The controls addressed in SSAE 18 are those that a service organization implements to prevent, or detect and correct, errors or omissions in the information it provides to user entities. A service organization’s controls are relevant to a user entity’s internal control over financial reporting when they are part of the user entity’s information and communication system maintained by the service organization.

Definition was referenced by: 

Service Organizations: Applying SSAE No. 18, Reporting on Controls at a Service Organization Guide (SOC 1)
Publisher: AICPA 


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