Course Summary: We have two different exciting topics we are discussing at our January meeting.  First, we will discuss the new SSAE 16 guidance and the related SOC 1 and SOC 2 reports, with the focus primarily being on the users of these reports, although we will discuss them from a service organization's point of view briefly.  We also will talk about Vendor Management in general.  Our second topic is Corporate Governance, which will be both a presentation and a discussion of hypothetical cases.

Course Details: See below for a course outline for each topic:

• SSAE 16/ SOC 1 & 2
• Differences between SOC 1 and 2
• What are the SOC 2 and 3 reports and who can get them
• What should be included in contracts with vendors to require a SOC report
• What should internal audit be looking for when they received their reports to ensure it provides the information they need
• What should internal audit expect if they are the ones being audited for SOC 1/ SOC 2
• How to pick relevant control objectives/ activities that will benefit organizations
• Vendor Management:
• What to include in contracts to allow companies to audit their vendors
• Using SOC reports to shift audit costs to vendors
• What to look for when selecting a vendor
• Maintaining good relationships with vendors
• Making sure vendors meet expectations
• MSAs - advantages and disadvantages
• Making sure Business Associate Agreements are in place when necessary
• How to make sure vendors are securely handling data
• Corporate Governance:
• The regulatory environment
• Executive compensation
• Board structure, organization, and practices
• Shareholder activism
• Risk oversight

Speakers: 

• John Barnes: Partner, Grant Thornton (SOC Reporting)
• Orus Dearman: Director, Grant Thornton (SOC Reporting)
• Bailey Jordan: Partner, Grant Thornton (Vendor Management)
• Paul DeNicola: Director; Center for Board Governance, PwC (Corporate Governance)

Time: 8:30 AM – 5:00 PM (registration begins at 8:00 AM); lunch is included for all ticket types (including half-day tickets)

CPE Credits: 8