Service organizations that impact their clients’ internal controls over financial reporting should consider a SOC 1 report to meet customer requirements. SOC 1 is an internationally recognized, third-party assurance audit designed for service organizations. If security, confidentiality, availability or processing integrity is a critical concern, a SOC 2 report may be the appropriate standard.
When you partner with Skoda Minotti Risk Advisory Services for SOC 1 examinations, you gain access to experts who understand your industry and the regulatory pressure you face. We offer an affordable, efficient approach to SOC 1 compliance.
SOC 1 provides service organizations with benchmarks for comparing their internal controls with industry best practices. The benefits of a SOC-1 examination include:
- Instant credibility
- Confirmation that controls, procedures and processes are in place as management intends
- Independent assessment of controls by a vetted third party
- Potential to grow market share
- Reduction of third-party self-assessment questionnaires
- One audit report that can satisfy multiple customers
SOC 1 Examination Services
- SOC 1 Readiness Assessment: We help your organization prepare for your first SOC 1 audit and conduct readiness assessments for organizations new to SOC 1.
- SOC 1 Transition Services: We ensure you achieve compliance as you move from SSAE 18 to SOC-1.
- SOC 1 Type 1: You may have policies and procedures in place, but need to gain a better understanding of SOC 1. A SOC 1 Type 1 engagement prepares your organization for the Type 2 report and provides an assurance report on the design of internal controls as of a specified date.
- SOC 1 Type 2: Earn the highest level of assurance with a SOC 1 Type 2 report. It not only evaluates the design of controls, it includes testing to illustrate the operating effectiveness of your controls over a period of time.
For more information about SOC 1 reporting at Skoda Minotti, please complete the form below or call Ben Osbrach at 440-449-6800.