The cornerstone of trust in financial reporting is achieved through SOC 1 Reports. Organizations can effectively communicate information about their risk management and control framework to multiple stakeholders. SOC 1 reports are ideally suited for businesses that handle financial or non-financial information for their clients that impact the customer financial statements or internal controls over [...]
If your organization handles, processes, stores, or transmits financial information, or information that can impact the financial statements of your customers, then a SOC 1 audit can help evaluate the internal controls of your organization and review how your organization protects client data. An organization may be required to obtain a SOC 1 report from [...]
When considering the broad spectrum of services provided by outsourced service providers in today’s marketplace, some service types lend themselves clearly to one SOC reporting option over another. To best understand the reporting options, it’s important to consider the intended use and audience in each case. There are three SOC reporting options currently available in [...]
