Who is a CPA (Certified Public Accountant) Auditor?
In accordance with the AICPA's attestation standards, a Certified Public Accountant (CPA) is an accredited professional capable of conducting audits and attestations for Service Organizations. These audits focus on internal controls, covering financial and non-financial reporting requirements based on either SOC 1 or SOC 2 criteria.
CPAs scrutinize and report on controls at Service Organizations concerning various aspects, including controls that influence user entities' financial reporting, as well as those affecting the security, availability, processing integrity of systems, and the confidentiality and privacy of information processed for user entities' clients.
Necessity of CPA Firms for SOC Attestation in Saudi Arabia
Under the AICPA SOC Audit Attestation standards, only an independent CPA (Certified Public Accountant) can conduct a SOC audit and attestation. These SOC auditors are overseen by the AICPA and must strictly adhere to the established professional standards.
Their approach encompasses meticulous planning, execution, and supervision of audit procedures, ensuring compliance with accepted auditing standards. This qualification enables CPA firms to assist Service Organizations in confronting the evolving challenges of cybersecurity and compliance through SOC examinations. The conducted audit and the subsequent attestation provide clients and stakeholders of Service Organizations with a source of credibility and trust.
Role of a CPA in SOC 1 or SOC 2 Audit Reports
As previously mentioned, SOC audits can solely be carried out by independent Certified Public Accountants (CPAs). Moreover, only a CPA firm specializing in auditing IT business process controls can complete SOC Audit Reports. These reports are attestation reports where CPAs offer opinions on the alignment of management's assertion with the necessary controls, as outlined by the SOC Attestation Standard's objectives.
The CPA firm's opinion may either be unqualified or qualified, depending on whether the Service Organization's controls meet the stipulated control objectives stated in their management assertion.
SOC 1 and SOC 2 Audit Reports feature four primary sections that report users should consider:
