Transparency and trust between businesses transacting with each other is essential. System and Organization Controls (SOC) reports answer this challenge in high-risk business environments. Reports by SOC professionals can define a strong operational reputation.
SOC reporting doesn’t have to be tedious. Our approachable team takes a streamlined SOC engagement with a talent for taking this detailed, technical service and making it efficient, simpler and valuable.
More than simply a “check the box” report, SOC provides tangible benefits, including:
- Enhanced ability to attract ideal customers and retain them through increased confidence
- Satisfaction of external audit requirements
- Documentation of internal controls
- Enhanced risk management
There are multiple SOC options for different end users and different systems. Get in touch and we can help you determine the best one for your organization.
- SOC 1 reports (Type 1 and Type 2) are designed for financial transaction processing and satisfy financial statement auditors as well as user entities.
- SOC 2 reports (Type 1 and Type 2) provide assurance over controls relevant to security, processing integrity, availability, confidentiality, and/or privacy of systems and the data the systems store or process. These reports can play an important role in oversight of an organization, corporate governance, risk management processes and regulatory matters.
- SOC 3 reports are intended for general audiences and public distribution and cover the same testing procedures and requirements as SOC 2 but omit the detailed test results and the description of the system.
- SOC for Cybersecurity reports on an organization’s enterprise-wide cybersecurity risk management program with information that can help senior management, boards of directors, analysts, investors and business partners gain a better understanding of the organization’s efforts to manage its cybersecurity risk management program. These reports provide a framework for communicating about the effectiveness of cybersecurity risk management program to build trust and confidence.
- SOC for Supply Chain provides a reporting framework on systems and controls in the production, manufacture, or distribution of goods. These reports can be used to communication information about supply chain risk management efforts, plans, processes and controls to stakeholders.
To reap the benefits of SOC reporting for your organization, or to determine which SOC report is right for your business, contact us.