Why is an SOC 1 Report So Important?
A client working with a service organization will routinely have their financial statements audited. A Statement on Standards for Attestations Engagements 18 (SSAE 18) Service Organization Control (SOC) 1 report performed by R2R will give your client’s auditor the assurance that your IT controls are designed and operating effectively, and that these controls have a positive impact your client’s financial statements.
An SOC 1 report focuses on both business process controls and information technology controls and is restricted to use by your existing customers (not potential customers).
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What is the purpose of a SOC 2 audit?