SOC 1
SERVICES

"At Sarbey, Lexow & Kaufman we pride ourselves on giving the kind of attentive client service that only a smaller local firm can deliver and couple that with a team of experienced service professionals with the technical skills and expertise of a large, national firm."

- Scott Sarbey, Managing Partner

WHAT ARE SOC 1 REPORTS?

SOC 1 SERVICES

"Sarbey, Lexow & Kaufman has been a trusted business advisor to me and our companies throughout the years. They have provided a variety of services, from corporate tax consulting and compliance to internal audit outsourcing and have even assisted with personal tax planning. They’ve always demonstrated a commitment to client service and continue to be valued members of the team."

- Salomon Srendi, Ocean Azul Partners

WHAT ARE SOC 1 REPORTS?

DOES MY ORGANIZATION NEED A SOC 1 REPORT?

If your organization provides a service that could impact your customer’s internal controls over financial reporting (“ICFR”), there is value in obtaining a SOC 1 report – in fact, it may be required to secure or retain business with customers who use the services.

Even if not explicitly required by user entities, a SOC 1 Report can provide you a competitive edge in the market, help you satisfy compliance requirements, and provide you with an effective tool for communicating your control commitments to your internal and external stakeholders.

A successfully completed SOC 1 examination can provide assurance and confidence that your internal control environment, activities, and monitoring are adequately designed and operating effectively to safeguard your customer’s financial transactions and data.

WHAT ARE THE DIFFERENT TYPES OF SOC 1 REPORTS?

Type 1 reports on the fairness of the presentation of management’s description of the service organization’s system and the suitability of the design of the controls to achieve the related control objectives included in the description as of a specified date.

Type 2 reports on the fairness of the presentation of management’s description of the service organization’s system and the suitability of the design and operating effectiveness of the controls to achieve the related control objectives included in the description throughout a specified period.