SOC audits provide you with an independent, third-party review of your processes and controls. This can reveal gaps or weaknesses that could save you from a poor reputation by fixing them before your customers have an unpleasant experience.
Report on controls relevant to internal control over financial reporting (ICFR). The American Institute of Certified Public Accountants (AICPA) professional standards for issuing SOC 1 reports require that SOC 1 reports follow the Statement on Standards for Attestation Engagements (SSAE). Businesses that provide services affecting financial reporting for their clients should conduct SSAE 16 SOC 1 audits.
SOC 2 audit reports provide detailed information and assurance about a company’s security, availability, processing integrity, confidentiality, and privacy controls based on their compliance with the AICPA’s TSC (Trust Services Criteria).
A SOC 2 audit is an important part of regulatory oversight, vendor management, and internal governance and risk management.
Similar to SOC 2 reports, SOC 3 reports report on controls related to security, availability, processing integrity, confidentiality, and privacy according to general Trust Service Principles. The difference between SOC 2 and SOC 3 reports is that SOC 3 is a general-purpose report, while SOC 2 is much more restricted, and only intended for allowed parties. SOC 3 reporting is an excellent option for technology companies, similar to SOC 2.
Our team of expert can assist you if you are ready to take the next steps to ensure that your company is conforming to industry standards that safeguard both you and your consumers.
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