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Case Study Seven: SOC 2 Audit for an IT Managed Services Provider

Summary Level

A large customer of an IT service organization providing outsourced managed services required an SOC 2 audit.

Details

Client’s Situation:

A large customer of an IT service organization providing outsourced managed services required a SOC 2 audit. Our client is a Managed Service Provider (MSP) that combines innovative technologies with years of in-depth experience to optimize the availability and performance of many large and complex applications across a diverse customer base through a unique range of proven services. An SOC 2 audit is important to our client’s customers and operations.

Accounting and Business Consultant’s Engagement Role:

We were engaged to perform an SOC 2 audit in accordance with auditing standards established by the American Institute of Certified Public Accountants (AICPA).

Engagement Results:

We successfully planned and performed an SOC 2 audit for a service organization, allowing them to meet requirements imposed by a significant customer. In guiding the service organization through their first SOC 2 audit, operational and governance improvements were adopted by the organization to standardize the service organizations best practices. The service organization is more transparent and disciplined in providing its services, which has resulted in new customers, revenue growth, and efficient monitoring of risks and controls.