SOC 1 SSAE 18 audit frequency is a common topic in today's growing world of regulatory compliance, as more and more organizations are being required to undertake SOC 1 SSAE 18 Type 1 and/or Type 2 reporting. Sure, they can be a taxing and expensive proposition, which always prompts the question, "how often do I have to do a SOC 1 SSAE 18 Typpe or Type 2 assessment". Generally speaking, once you've welcomed yourself to the world of regulatory compliance, your customers are going to expect an annual SOC 1 SSAE 18 assessment from you.
It's an Annual Commitment
That's right, once a year is the norm - after all - a SOC 1 SSAE 18 assessment that becomes historically old and "stale" is of little or no value for intended users of such a report. Just stop and think about how much can change in one (1) full calendar year for a company - new business lines, changes in operations - the list can go on and on. It's the prime reason why SOC 1 SSAE 18 audit frequency is generally an annual commitment. Sure, this can be quite a challenge for service organizations – both financially and operationally – but the pricing for these types of engagements has come down considerably with the numerous CPA firms competing for your business.
Even with that said, working with your CPA firm on an annual basis regarding audit preparation, planning, and other related activities should help ease the operational and financial costs to some degree. Just remember to choose a well-skilled, proven firm, one with years of experience performing SOC 1, SOC 2, and SOC 3 engagements. Additionally, if you would like to learn more about SOC 1 SSAE 18, please visit the official SOC Report Resource Guide at socreports.com, developed exclusively by NDNB, a nationally recognized PCAOB CPA firm specializing in SOC 1, SOC 2, and SOC 3 compliance.