As one of the region’s largest providers of high-quality SOC reports, we have compiled a library of responses to the questions we are asked nearly every day. We’re happy to share our insights, questions include:
System and Organization Controls (SOC) reports, formerly Service Organization Control reports, are examinations provided by CPAs in connection with system-level controls of a service organization or entity-level controls at other organizations. These engagements are performed in accordance with Statement on Standards for Attestation Engagements (SSAE) No. 18, which is a professional standard promulgated by the American Institute of Certified Public Accountants (AICPA).
A SOC report is often requested by organizations (user entities) that receive significant services from a service organization and the user entities’ auditors (user auditors).
Obtaining a SOC 2 report differentiates the service organization from its peers by demonstrating the establishment of effectively designed internal corporate governance and oversight and allows customers, stakeholders – or both – to gain confidence and place trust in the service organization’s system.
Prior to undergoing a SOC examination, an organization should engage a CPA firm to perform a SOC Readiness Assessment. SOC Readiness Assessments are designed to assist organizations in assessing their preparedness for a SOC examination.
Schneider Downs employs a unique approach to SOC reports, integrating the expertise of information technology, internal audit and external audit professionals. By combining cross-disciplinary knowledge and project management expertise, we are able to effectively deliver on our clients’ expectations. If you are interested in learning how we can assist your organization, please contact us to get started or learn more about our practice at SOC .
DOES YOUR ORGANIZATION NEED A SYSTEM AND
ORGANIZATION CONTROLS (SOC) REPORT?
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Schneider Downs is a Top 60 independent Certified Public Accounting (CPA) firm providing accounting, tax, audit and business advisory services to public and private companies, not-for-profit organizations and global companies. We also offer Internal Audit; Technology Consulting; Software Solutions; Personal Financial Services; Retirement Plan Solutions and Corporate Finance Services. Schneider Downs is the 13th largest accounting firm in the Mid-Atlantic region and serves individuals and companies in Pennsylvania (PA), Ohio (OH), West Virginia (WV), New York (NY), Maryland (MD), and additional states in the United States with offices in Pittsburgh, PA, Columbus, OH, and McLean, VA.
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