SOC 1 and SOC 2 issues arising from COVID-19

The American Institute of Certified Public Accountants (AICPA) has prepared a list of representative FAQs and topics to aid practitioners as they perform SOC 1 and SOC 2 engagements in these uncertain times. CPA Canada has adapted the AICPA guidance to reflect Canadian standards and terminology in a new non-authoritative guidance.

This Audit and Assurance Alert raises awareness about the issues arising from COVID-19 related to performing the following engagements:

• SOC 1: Reporting on controls at a service organization relevant to the user entities’ financial statements; and
• SOC 2: Reporting on controls at a service organization relevant to security, availability, processing integrity, confidentiality and privacy.

SOC 1 and SOC 2 issues arising from COVID-19