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Who Needs an SSAE 18 (SOC 1) Audit? If your Company (the 'Service Organization') performs outsourced services that affect the financial statements of another Company (the 'User Organization'), you will more than likely be asked to provide an SOC 1 Type II Report, especially if the User Organization is publicly traded.

SSAE18 SOC 1 is a report that informs a service organization's customers and their customer's auditors on the controls the service organization has in place to safeguard their customer's financial statements.

One of the things to keep in mind to differentiate each of these services is that audits are performed to discover data, risks, or compliance issues that may not have been known before the audit took place, and attestation is to evaluate and review how true the data or information is when compared to a stated purpose,

16 is an attestation standard put forth by the Auditing Standards Board (ASB) of the American Institute of Certified Public Accountants (AICPA) that addresses engagements undertaken by a service auditor for reporting on controls at service organizations that provide services to user entities, for which a service

Examples of attestation engagements are: Reporting on financial projections made by a client. Reporting on pro forma financial information formulated by a client. Reporting on how well the internal controls in a client process function.

Statement on Standards for Attestation Engagements 18 (SSAE 18) is a standard from the American Institute of Certified Public Accountants (AICPA). The organization's Auditing Standards Board (ASB) created these regulations to evaluate service companies.

An attestation engagement is an arrangement with a client where an independent third party investigates and reports on subject matter created by a client. Examples of attestation engagements are: Reporting on financial projections made by a client.