SSAE 18 SOC 1 audit reports are available at fixed fees for Austin, TX and San Antonio, TX businesses from NDNB, Texas’ leading provider of SOC audits and compliance services. With years of experience performing regulatory compliance audits and assessments, NDNB has the expertise and knowledge for ensuring an efficient, high-quality audit process from beginning to end. While the SOC 2 assessment standard is highly suitable for many of today’ technology businesses (i.e., data centers, SaaS & cloud computing, etc.), SSAE 18 SOC 1 reporting focuses on the Internal Control over Financial Reporting concept, known simply as ICFR.

SOC 1 Reporting and ICFR – What Texas Businesses Need to Know

Specifically, service organizations providing material services to customers for which such functions have the ability to impact their customer’s financial reporting, are the ideal candidates for SSAE 18 SOC 1 audit reports. Banks, trust departments, actuarial services, third party administrators (TPA) – these are all excellent examples of SSAE 18 SOC 1 audit reporting candidates.

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If you as a service organization are working with any type of client specific data that may be relevant to such clients’ financial reporting, then the SSAE 18 SOC 1 standard is an ideal audit indeed. Since the retirement of the historical SAS 70 audit standard some years ago, SSAE 18 SOC 1 reporting has become the global de factor reporting standard for internal controls relating to financial systems – no question about it – but please keep in mind that SOC 2 is also a viable option, particularly for technology-oriented service organizations.

SSAE 18 SOC 1 Audit Reports Austin, TX, San Antonio, TX | Fixed Fees

SSAE 18 SOC 1 audits can be tiresome, mundane, and operationally challenging – after all, it’s an audit – and it’s why NDNB has developed a flexible, scalable roadmap for ensuring a successful assessment process from beginning to end. Starting with a SSAE 18 SOC 1 Readiness Assessment, followed up by remediation (if applicable), then concluding with the actual audit itself. It’s a process NDNB has refined for years, and it’s efficient indeed, and cost-effective.

Specifically, the NDNB SSAE 18 SOC 1 process includes the following phases:

Phase I: Scoping & Readiness Assessment. A brief, yet highly valuable exercise for ensuring scope, business processes – and other critical subject matter – are properly identified, discussed, assessed, and agreed upon. It’s important to assess both the operational and information security aspects of one’s internal control environment – the various policies, procedures, and related processes within a company. And while most businesses are very good at what they’re doing, they generally loathe the documentation aspect of compliance, which makes a scoping & readiness assessment important as it identifies these critical issues.

Phase II: Remediation and Implementation of Controls. Service organizations – while generally very good at what they do – loathe documentation, which is a big part of SSAE 18 SOC 1 compliance. It’s why almost every readiness assessment conducted by NDNB finds considerable gaps and deficiencies in regards to information security documentation.

Phase III: SSAE 18 SOC 1 Assessment Procedures. This is where the real work begins as we’ll be collecting a vast amount of audit evidence from your organization – screenshots, memos, system settings information, log files, and other audit information – as it’s needed for validating one’s internal control environment. NDNB has luckily perfected the audit collection and assessment procedures, ultimately resulting in a minimization of business interruptions for your organization.

Phase IV: Report Issuance. The final SSAE 18 SOC 1 report undertakes an extensive quality assurance process for ensuring the entire report is complete, accurate, and grammatically correct, from beginning to end. After all, it’s the report being shown to intended users of one’s services, thus the quality and representation must be second to none.

To learn more about NDNB’s SSAE 18 SOC 1 audit services – along with SOC 2, PCI DSS, HIPAA, and many other compliance solutions for Austin, TX and San Antonio, TX businesses, contact Christopher G. Nickell, CPA, at 1-800-277-5415, ext. 706 today.