TechTalk On “SOC Reporting” On May 18
A TechTalk panel discussion on ‘SOC Reporting’ will take place on May 18th at the Hamilton Princess.
The panel will consist of Brian Desmond, Head of Fund Services and Chief Strategy Officer – Horseshoe Fund Services; Bing Lin, Senior Manager, IT Advisory – KPMG; Cindy Ratzlaff, Vice President of Services – Applied Computer Technologies; Kerr Kennedy, Senior Manager, Information Technology Risk Assurance [ITRA] – EY.
The event poster says, “For decades there has been a trend in businesses outsourcing various functions as a means to achieve operational efficiencies and strategic management or as a result of a lack of internal resources. Payroll, claims, receivables/payables processing, and IT services including change and access management and data center operations are typical processes that are outsourced to service organizations.
“User entities want assurance that service organizations are performing those services as expected. Often, those user entities are submitting personal or confidential customer information for processing or storage, and they want assurance that no breaches in privacy practices will occur.
“Service Organization Control [SOC] Reports are issued by service organizations to user entities to demonstrate compliance with relevant standards regarding controls at the service organization. Recently, a new set of attestation standards [SSAE18] have been issued which will bring more focus to sub-service organizations [i.e. if a service organization uses outsourced services] and Information Provided by the Entity..”
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