How a SOC Audit Creates Flexibility on your Internal Commitments
Published on by Robert Ramsay in SOC Reports, Technology
If your business provides outsourced service functions like payroll, cloud computing, document management, SaaS, or many others, your customers may be looking for independent validation of your controls. This could be to satisfy their own Sarbanes-Oxley requirements or as part of their own internal due diligence on vendors.
In one particular instance, a subsidiary of an international reinsurance company needed more local personnel to perform a Service Organization Controls (SOC) report. Barnes Dennig provided three local staff trained in SOC Services enabling the company to afford complete outsourcing and freeing internal audit hours. This enabled the company to meet their internal audit plan and allowed for outsourced professionals to perform all of the SOC testing. This resulted in local, flexible service and money saved for other internal commitments.
As certified public accountants (CPAs), we uniquely understand the SOC requirements developed by the American Institute of CPAs. In addition, our team of auditors was involved in Statement on Auditing Standards (SAS) 70 reporting before it evolved into SOC reporting, and we have professionals with significant experience establishing and testing internal controls and IT controls.
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Speak with a Barnes Dennig team member at no cost to learn more about how your business could benefit from our services, have us reach out to you by filling out a brief form here.
You can also learn more about our services from the SOC Reporting page, and our internal controls page.