SOC 1 examinations evaluate your organization’s operational processes and IT controls. The reports are specifically designed to meet the needs of entities that use service organizations and their external auditors as they evaluate the effect of the controls at the service organization on user entities’ financial statements. Use of these reports is restricted to the management team of the service organization, user entities and user auditors.
Readiness Assessment – Readiness Assessments are non-attest consulting engagements designed to identify control gaps and advise the service organization of necessary corrective actions in preparation for a successful SOC examination. We work closely with service organizations to ensure mutual agreement on the control objectives and risks significant to user organizations.
SOC 1 Type 1 – Evaluate the fairness of the presentation of the service organization’s system description and the suitability of the design of the controls in meeting the related control objectives as of a specific date. SOC 1 Type 1 may benefit organizations that have never completed an examination, since it assesses the design of controls at a specified date.
SOC 1 Type 2 – Evaluate the fairness of the presentation of the service organization’s system description and the suitability of the design and operating effectiveness of the controls in meeting the related control objectives over a specified period. The SOC 1 Type 2 examination is recommended for those who have completed a readiness assessment or a Type 1 examination, as it evaluates both the design and operating effectiveness of controls over time.
We also provide SOC 3 examinations and other specialized reports, such as SOC for Cybersecurity and SOC for Supply Chain, to address the risk areas most important to you and your organization.
Not sure if your organization needs a SOC examination? Download our SOC service overview or take our SOC assessment quiz to find out.
Ready to Get Started Contact us for more information on our SOC solutions and capabilities.
Recognized for our deep SOC experience and established service model, we are leaders in the field and sought-after speakers on SOC reporting requirements both regionally and nationally. Key benefits of working with Schneider Downs include:
Visit our SOC Resource Library for helpful thought leadership, including case studies and FAQs.
Schneider Downs employs a distinctive approach to SOC reports by blending the expertise of IT, internal audit, and external audit professionals. Our integration of diverse knowledge and project management skills ensures we meet and exceed our clients’ expectations. To ensure our SOC reports meet your needs, we employ a rigorous Quality Control system and have peer reviews completed by external assessors on a regular basis. To explore how we can support your organization, please contact us to get started.
Big Problem: Company Impacted By Ransomware.
Big Thinking: Restore System On-site And Avoid Six-figure Ransom.
Big Problem: Inefficient Tax Credit Realization.
Big Thinking: Identified A $900,000 Tax Credit, Nearly Twice As Much As Prior Years.
Email us: [email protected]
Schneider Downs is a Top 60 independent Certified Public Accounting (CPA) firm providing accounting, tax, audit and consulting services to public and private companies, not-for-profit organizations and global companies. We also offer risk advisory, transaction advisory, digital consulting, wealth management, retirement plan solutions and investment banking services. Schneider Downs serves individuals and companies in Pennsylvania (PA), Ohio (OH), West Virginia (WV), New York (NY), Maryland (MD), metropolitan Washington (DC) and additional states in the United States with offices in Pittsburgh, PA, Columbus, OH, and McLean, VA.
© 2024 Schneider Downs & Co., Inc. Maryland license number 35239.
Every moment counts. For urgent requests, contact the Schneider Downs digital forensics and incident response team at 1-800-993-8937. For all other requests, please complete the form below.
