SOC 1: A System and Organization Control 1 or SOC1 report (SOC audit) is given to a service organization after it demonstrates that it has sufficient internal controls in place to ensure that its client’s financials will not be affected due to its own actions. Clients usually use these reports to demonstrate to their own auditors that they trust the services that you are providing to them and do not expect your actions to impact their business in any way. [Learn More]
SOC 2: A System and Organization Control 2 or SOC 2 report (SOC audit) is given to a service organization after it demonstrates that it has sufficient internal controls in place for its information systems so that they follow one or more of the Trust Services Principles and Criteria. These criteria usually apply to organizations that do store or process information for their customers such as cloud hosting companies, Software as a Service (SaaS) companies or data processing companies. [Learn More]
SOC 3: As a society, we are heading into a digital age where more and more services are being made available online. While this helps in making our lives more convenient, it also means that more and more data is now being stored online or in the cloud. Most organizations that we work with do not have the expertise or infrastructure in information systems to handle the data that is being generated and, therefore, outsource the data handling, storage and processing to companies. The Trust Services Principles list some of the most important criteria when it comes to data storage that service-providing companies must adhere to. [Learn More]
SOC Cyber Security: Cyber Security threats are a real thing for all companies, big or small. With connected offices and on-the-move staff, companies rely heavily on their IT infrastructure to collect, store and share information. Many organizations choose third-party vendors to handle the services required for the smooth functioning of offices. This requires an assessment to ensure that the IT infrastructure is adequate as well as secure enough to handle your organizational requirements. A Cyber Security Attestation is a valuable report that allows you to gauge the level of cyber security is maintained for your data and formulate plans for risk mitigation. [Learn More]
ISAE 3402: As business for an organization grows, there are some non-essential functions that the organization does not wish to focus upon. These functions do not occupy the core of business operations for the organization and are usually outsourced to a third-party organization that handles all aspects related to this function. Although these functions might not be core to the business, their failure may impact the operations or even the survival of the organization. In such a scenario, one needs to be absolutely sure that the organization handling the non-core functions performs its duties efficiently. An ISAE 3402 Service Organization Report is one of the ways of gauging the quality of outsourcing services provided by a service organization. [Learn More]
Agreed Upon Procedures: Businesses cannot scale up organically every time. To reach newer horizons and take your business to a new level, you will need to work with different people, different organizations, different sets of skills, different attitudes and working styles to reach your goal. You might want to buy out a business or consolidate your market position by merging with another business. How does one ensure that work under this new agreement will be done to the satisfaction of both parties? A third-party audit of agreed upon procedures helps. [Learn More]