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SSAE18 is now effective as of May 1, 2017, and if you have not made the necessary adjustments required, now is the time to find a quality provider to discuss the proper steps. All organizations are now required to issue their System and Organization Controls (SOC) Report under the SSAE-18 standard in an SOC 1 Report. SSAE 18 is important to bankers because it requires CPAs to focus on such critical regulatory issues as third party vendor management practices, validating the data on reports that vendor management provides, and performing a comprehensive risk assessment of their vendor clients. Another important addition in SSAE 18 is the need for vendors to
conduct thorough due diligence and ongoing monitoring on all vendors (i.e., sub servicers) they use. Control risks increase when your vendors contract with sub servicers which are why the ASB expanded this part of the required audit process. Attending this webinar by Gary Deutsch, will help you prepare for examinations of your third-party risk management program. Join Today.
Key Learning Objectives- What has changed and what is the same in the transition from SSAE 16 to SSAE 18
- How to evaluate when you can rely on SSAE 16 reports or if you need SSAE 18 reports
- How to interpret SSAE 18 SOC 1 reports to incorporate the results into your third-party vendor management regulatory compliance program
- How to effectively incorporate SSAE 18 SOC 1 risk assessments into your institution's risk assessment process
- Understand the types of engagements institutions can ask for beyond SOC 1 under SSAE 18
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 | Gary Deutsch
Owner - BRT Publications LLC
Mr. Deutsch is a licensed CPA in Maryland. He has also achieved the Certified Management Accountant, Certified Internal Auditor and Certified Bank Auditor designations. Mr. Deutsch has extensive risk management and internal audit experience through his association with financial institutions of all sizes as well as through his role leading the KPMG financial institution consulting practice in the Mid-Atlantic region | |
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