Leverage the power of SOC reports in your organization

Are clients confident that their data is safe with you?

Give them a reason to feel secure.

Customers trust you with one of their most valuable assets – sensitive data that can include financial transactions and Personal Identifiable Information (PII) protected by law.

Our dependency on technology continues to increase, and so do threats like data breaches, back-up failures and fraud. Fields like financial services and healthcare have compliance requirements, but information security and privacy are about much more than simple compliance. With hacks and data breaches on the rise, it’s increasingly important for your organization to keep and earn customers’ trust.

Companies are looking for vendors they can trust.

Your customers need assurance that their data is safe. It is imperative to have your technology policies and procedures evaluated. System and Organization Controls (SOC) Reports can provide this confidence to your stakeholders, customers, and their auditors.

We bring extensive skills and decades of experience in analyzing and evaluating internal control structure: we’ve been business consultants and auditors, evaluating internal controls for over 50 years.

Our team assesses internal controls for more than 200 audit clients annually.

This experience with internal controls and project management helps us perform well planned, efficient readiness services and Type I and Type II audits.

The following reports provide information about your controls to help your customers assess and address the risks associated with your services. (For a detailed comparison, please reference the AICPA.)

 

  • SOC 1 Report: A detailed description of your internal controls over financial reporting that impact your customers, so that your customers meet the needs of their management, auditors, and other stakeholders.

 

  • SOC 2 Report: A comprehensive description of your internal controls relevant to the security, availability, processing integrity, confidentiality, and privacy of your system.

 

  • SOC 3 Report: If you want to be able to share your SOC 2, but don’t need to provide more than an overview related to security, availability, processing integrity, confidentiality, and privacy. Can be readily shared, and used for marketing purposes.

 

  • Need to go beyond SOC 2:
    • SOC 2 Plus: If you want to go beyond the SOC 2 trust services criteria (security, availability, processing integrity, confidentiality, and privacy) and report on another regulatory or compliance framework i.e., HIPAA, GDPR, NIST Cybersecurity Framework, Cloud Security Alliance, ISO 27001, etc.
    • SOC for Cybersecurity: If you want a general-use report that’s specifically relevant to the organization’s cybersecurity risk management program.
    • SOC for Supply Chain: Addresses the trust services criteria from SOC 2, relevant to a production, manufacturing, or distribution system.

 

We look at:

  • Controls in place to protect data and systems
  • Controls customers must implement to ensure system objectives can be achieved
  • Independent testing of controls as of a date in time (Type 1) or for a period of time (Type 2)

How do you know you’re ready for an SOC exam?

The quickest way to find out if you are ready for an SOC examination—especially if this is your first time—is to have a readiness assessment completed. We can help identify gaps and provide realistic, commonsense recommendations to get prepared.

For more information concerning SOC examinations and readiness assessment services, please get in touch with our cybersecurity and compliance team.