What Plan Sponsors Need to Know: Providers and SOC Reports

Nearly every plan sponsor in the country outsources critical recordkeeping, cashiering, and custody services to third-party providers. While those services are outsourced, the fiduciary responsibility for their accurate execution still resides with the plan sponsor.

During this webcast, cohosted by Moss Adams, we provided context on SOC (System and Organization Controls) examinations, also known as SOC audits. We discussed what you need to know to be an intelligent user of SOC audits as well as the following topics:

• Why the Department of Labor cares about SOC audits
• SOC 1 and SOC 2 definitions
• What to look for when reviewing SOC reports
• How to perform necessary SOC reporting