SOC 3
SERVICES
- Tony Sands, Owner, Tony Sands Speed Training
WHAT ARE SOC 3 REPORTS?
If your organization relies on vendors to process or safeguard your sensitive data or you are a vendor responsible for keeping sensitive data safe, then a SOC 3 engagement could be critical for helping your organization identify and mitigate risk.
A successfully completed SOC 3 examination can provide assurance and confidence to stakeholders that your internal controls are designed and operating effectively based on the selected trust services criteria.
SOC 3 SERVICES
- Scott Sarbey, Managing Partner
WHAT ARE SOC 3 REPORTS?
If your organization relies on vendors to process or safeguard your sensitive data or you are a vendor responsible for keeping sensitive data safe, then a SOC 3 engagement could be critical for helping your organization identify and mitigate risk.
A successfully completed SOC 3 examination can provide assurance and confidence to stakeholders that your internal controls are designed and operating effectively based on the selected trust services criteria.
DOES MY ORGANIZATION NEED A SOC 3 REPORT?
If your organization is providing, or plans to provide, services to other large businesses, expect to receive requests for a controls report. Therefore, we recommend reviewing your organization’s business strategy to determine if a SOC report is an appropriate investment for your future client base or an initiative to differentiate your organization from your competition. In addition, if you currently have a SOC 1, you may receive requests to provide a SOC 2 or SOC 3 as well, to demonstrate controls to protect your client’s data.
WHAT ARE THE DIFFERENT TYPES OF SOC 3 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.
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