SOC 1, SOC 2, SOC 3 Audits

SOC audit services PA NJCan your organization assure stakeholders, management, regulators, and clients that IT systems and data are adequately protected, controlled, and processed? Is your service organization transparent and able to demonstrate that your internal controls are reliable, accurate, and fairly presented? These are concerns for your business and service organization, which will benefit from a Service Organization Controls (SOC 1, SOC 2, SOC 3) audit.

Accounting and Business Consultants, LLC is a regional CPA firm that specializes in performing SOC 1, SOC 2, SOC 3 audits for service organizations. Contact us now or call us at 215-970-7250 or 800-930-2923 to learn more about our services.

Benefits of SOC Audits

  • SOC audits can assure adequate controls are in place regarding financial reporting, data security, confidentiality, availability, privacy, or processing integrity.
  • Potential customers may be unwilling to consider vendors that cannot demonstrate they meet SOC compliance requirements.
  • SOC reports from your organization may be necessary or preferred by your clients to comply with various audit or regulatory requirements, such as Sarbanes-Oxley (SOX), Gramm–Leach–Bliley Act (GLBA), Health Insurance Portability and Accountability Act (HIPAA), Federal Financial Institutions Examination Council (FFIEC), Dodd-Frank, or Payment Card Industry Data Security Standard (PCI DSS) requirements.
  • Customers and various third parties might request a SOC audit to minimize outsourced IT systems risks.

Types of Audits

Accounting and Business Consultants, LLC specializes in performing SOC 1, SOC 2, and SOC 3 audits for service organizations. We will help your organization determine its specific reporting needs as well as plan and perform an appropriate audit.

SOC 1 Audits

SOC 1 is a report on the assessment of internal controls over financial reporting and is used in the audit of your clients' financial statements. SOC 1 reports are specifically designed for auditors of a user entity’s financial statements, management of the user entities, and management of the service organization. SOC 1 is a report on controls at a Service Organization Relevant to User Entities’ Internal Control over Financial Reporting (SSAE 18). It also provides credibility to your customer so they can trust the quality of your services and makes your organization transparent about any control matters.

SOC 2 Audits

SOC 2 is a report on controls at a service organization relevant to security, availability, processing integrity, confidentiality, or privacy. SOC 2 guidance will apply in an audit of a service organization’s system that relates to non-financial statement processes and controls. A SOC 2 report helps your clients satisfy their vendor management, business continuity, or regulatory requirements. It also offers the transparency that will allow your customers to put confidence in the quality of your services and controls.

SOC 3 Audits

SOC3 is a public, general-use report designed for users who only need assurance about the controls at a service organization and don't have the need for or the knowledge necessary to make effective use of a SOC 2 Report. A SOC3 report can only be provided after a SOC2 audit.