Service Organization Control (SOC) Reporting, which consists of SSAE 16 SOC 1, SOC 2, and SOC 3 reporting, was developed by the American Institute of Certified Public Accountants (AICPA) as a comprehensive replacement to the now historical, one-size fits all SAS 70 auditing standard. SOC 1 reporting utilizes the SSAE 16 professional standard, while SOC 2 and SOC 3 incorporate the AT 101 standard, ultimately resulting in three (3) different types of reporting options for today’s service organizations.

Though there are a number of critical elements that helped shape and ultimately form the new AICPA SOC reporting framework, it's equally important to note that each of the three (3) SOC options are aimed at very specific needs and reporting requirements for service organizations themselves. In short, thankfully, the SAS 70 auditing standard is gone, replaced by a new and dynamic – and much better aligned – options for reporting on controls at service organizations. NDB provides SOC audits for businesses all throughout North America. Let’s take a look at how each of the three (3) SOC options size up in today’s market and who their intended audience is:

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