SOC® ASSESSMENTS & EXAMINATIONS
soc 1 reports in detail
SOC 1 reports
The SOC 1 Report (System and Organization Controls 1 Report) is 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.
Controls typically assessed: Control Environment, Physical Security, Environmental Security, Applications, Change Management, Backups & Restoration Processes, Data Communications, Job Scheduling, Transaction Processing, Information Security, and/or Systems Availability.
For organizations like payroll companies, debt collectors, and data centers.
Earning a SOC report shows your commitment to data protection and operational transparency—and can give your business a competitive edge in regulated industries.
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.
TESTIMONIALS
You Don’t Have to Take Our Word for it
“I often see companies that have around 100 employees saying they want to go after certain types of compliance but they don’t want to hire a full IT team. That’s where 360Advanced’s Security MANAGED SERVICES PROGRAMS really shine. They allow small companies to achieve good security and work with a compliance partner thatprovides a great service and walks you through the whole compliance process.”
Martyn Simpson
CISO | Preservica
“I’m very proud of the compliance program we’ve built at DataBank, and that we’ve had 10
years of exception-free SOC reports — which is unheard of in our industry. That success
comes from our diligence to maintain the highest quality compliance program, and having a
team like 360 Advanced to support us in doing that.”
Calli Schlientz
Director, Compliance | DataBank
From Six Sites to Sixty-Four: How DataBank Built a Scalable, Exception-Free Compliance Program
DataBank is a vast network of data centers that serves many of the world’s largest enterprises, technology, and content providers.
Read the Case Study
Learn more about SOC Examinations with our free guide
System and Organization Controls (SOC) reports allow service providers to demonstrate that they are operating in an ethical and compliant manner. The guide discusses the difference is between each report, and when to use them.
Download the SOC Guide NowContact
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