Assume that you receive a SOC 1, Type 2 report as a user auditor. How will this report assist your firm in its audit of the user entity?
a. A SOC 1, Type 2 report will allow the user auditor to both understand the service organization’s controls and obtain the results of tests of the service organization’s controls.
b. A SOC 1, Type 2 report will only allow the user auditor to obtain an understanding of the service organizations controls, but it does not report the results of tests of controls.
c. A SOC 1, Type 2 report will only allow the user auditor to obtain the results of tests of controls, but it does not provide the user auditor with an understanding of the service organization’s controls.
d. A SOC 1, Type 2 report will allow the user auditor to both understand the service organization’s controls, and obtain the results of substantive procedures at the service organization.