Due to growing concerns over the security of customer information and data, service organizations are often asked to demonstrate that adequate controls and safeguards in place through a SOC audit.
Due to growing concerns over the security of customer information and data, service organizations are often asked to demonstrate that adequate controls and safeguards in place through a SOC audit.
Why does my company need a SOC audit? If you are a service organization handling information that may have an impact on your clients’ financial reporting, you may be requested to obtain a SOC 1 report. This report can provide assurance to outside parties that your organization has been through an in-depth audit of control objectives and activities by an independent accounting and auditing firm.
SOC 2 compliance is vital to safeguarding data and proving to your clients that your organization protects their information by following specific governance, operational and information technology control objectives. A SOC 2 report can address one or more of the AICPA’s Trust Services Criteria: security, confidentiality, availability, processing integrity and privacy standards.
Due to growing concerns over the security of customer information and data, service organizations are often asked to demonstrate that adequate controls and safeguards in place. The SSAE 18 audit includes a review of controls over transaction processing, security, data hosting and other related processes.