When customers ask about your internal controls over security, do you have good answers?
Companies who outsource tasks or functions to technology providers are not only demanding greater data security and privacy standards from vendor organizations, they’re often asking for proof. A System and Organization Control (SOC) report can provide the assurance you need to separate yourself from the competition. And win more business.
SOC reports follow a standard framework and process for internal control certification. They were created by the American Institute of Certified Public Accountants and are offered only by licensed service auditors. Several types of SOC reports are available.
SOC 1 reports can provide assurance around your financial reporting controls and compliance. Customers need to know that your controls are working as promised and that the data flowing into their financial statements is accurate and complete.
SOC 2 reports can provide assurance around your data security and operational controls. Customers need to know that your controls satisfy their requirements for security, availability, processing integrity, confidentiality and privacy.
Simply having a clean history and reputation for data security isn’t enough.
At LWBJ, we see SOC examinations as an opportunity to engage clients with best practices and enhance their competitive advantages. We work with many small and mid-size companies to provide the assurance they need to meet the unique needs and requirements of customers, prospects and regulators.
For more information about our complete suite of SOC services, call today.