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SOC Engagements – SSAE 16

3 ways to assure faith in your systems.

If you are a service company or you are doing business with a service company, are you confident about the controls and criteria in place to address any threats or risks?

Like any business, service organizations are under increasing pressure from their customers to differentiate themselves. Engaging in a SOC report is one of the ways that your organization can distinguish itself from competitors.

SOC 1

This report (also referred to as SSAE 16) is intended to meet the needs of your customers and their auditors in order to evaluate your internal controls on their financial statements

SOC 2

This report provides your customers an assurance of your internal controls over the customer data you maintain. Specifically, it provides a user a detailed understanding of your internal controls that relate to data security, availability, processing integrity, confidentiality and privacy.

SOC 3

This general use report provides the user a much less detailed reporting of your internal controls related to data security, availability, processing integrity, confidentiality and privacy.

Benefits of SOC Engagements

Assurance that client data is effectively safeguarded

Client retention and acquisition resulting from the competitive advantage over firms who d not have SOC reports

Improved risk management and control

The ability to demonstrate the sound controls within the firm

Implementing best practices and elevated industry standards

Deciding which report is right for your business

By partnering with our firm, we will provide you with a small firm service level while utilizing large firm resources. At BS&P we don’t have a one size fits all strategy because we know that no two businesses are alike; we partner with you to accommodate your needs and budget. Our knowledgeable, committed team of professionals is dedicated to making an important contribution to the success of your business.

Meet the experts

Kevin Majchrowicz
Kevin Majchrowicz