SOC® 1 Examination
Strengthen your customer’s confidence in your service organization.
A report for those service organizations that have direct or indirect impact on a user entity’s financial reporting, a SOC (System and Organization Controls) examination reports on the controls at your company (the service provider/service organization) as they are relevant to your clients’ internal controls over financial reporting.
Organizations in need of a SOC 1 assessment include payroll companies, debt collectors, and even data centers.
SOC 1 Readiness Assessment
This overview is designed to help the service organization prepare for the examination by identifying deficiencies, gaps, and other areas warranting attention, along with coaching so management can understand their options to repair them.
SOC 1 Type 1 Examination Report
A SOC 1 Type 1 report expresses an opinion on the design of the system of controls placed into operation as of a point in time. Simply put, this report assures your clients and their financial statement auditors that your system has been accurately depicted, the stated controls are sufficiently designed, and they are expected to fulfill your financial reporting control objectives.
SOC 1 Type 2 Examination & Report
A SOC 1 Type 2 report expresses an opinion on the design and operating effectiveness of controls over financial reporting over a specific (historical) period of time. This is most typically a twelve-month period. Thus, this report incorporates an additional step that 360 Advanced tests the controls and shares the results of those tests.
Controls Typically Assessed in a SOC 1 Examination
Control Environment
Physical Security
Environmental Security
Applications
Change Management
Backups & Restoration Processes
Data Communications
Job Scheduling
Transaction Processing
Information Security
Systems Availability
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