SOC 1, SOC 2 and SOC 3 Audit Services

Is your service organization transparent and able to demonstrate internal controls are reliable, accurate, and fairly presented? Can your organization assure stakeholders, management, regulators, and current and potential clients that personal, financial, or confidential customer data is adequately protected and processed? If your organization cannot provide acceptable assurance, it will be strengthend and improved by a Service Organization Controls (SOC) audit.

Bankole, Okoye & Associates, P.C. is a leading regional CPA firm that specializes in performing SOC 1, SOC 2, and SOC 3 audits for service organizations. Contact us at 281-741-7900 now or request a free initial consultation to learn more about our full menu of audit and assurance services.

Benefits of SOC Audits

SOC audits assure adequate controls are in place regarding financial reporting, data security, confidentiality, availability, privacy, or processing integrity.
Potential customers may be unwilling to consider vendors that cannot demonstrate they meet SOC standards.
SOC reports from your organization may be necessary or preferred by your clients to comply with various audit or regulatory requirements, such as Sarbanes-Oxley (SOX), Gramm–Leach–Bliley Act (GLBA), Health Insurance Portability and Accountability Act (HIPAA), Federal Financial Institutions Examination Council (FFIEC), Dodd-Frank or Payment Card Industry Data Security Standard (PCI DSS) requirements.

Types of SOC Audits

There are three types of SOC audits: SOC 1, SOC 2, or SOC 3. Accounting and Business Consultants, LLC will help determine the specific reporting needs or your service organization as well as plan and perform an appropriate kind of SOC audit.

SOC 1 Audits

A SOC 1 report is important for the assessment of internal controls over financial reporting and is used in the audit of your clients’ financial statements. SOC 1 reports are specifically designed for auditors of a user entity’s financial statements, management of the user entities, and management of the service organization. SOC 1 is a Report on Controls at a Service Organization Relevant to User Entities’ Internal Control over Financial Reporting (SSAE 16). It also provides credibility to your customer so they can trust the quality of your services and that your organization is transparent about any control matters.

SOC 2 Audits

SOC 2 is a report on controls at a service organization relevant to security, availability, processing integrity, confidentiality, or privacy. SOC 2 guidance will apply in an audit of a service organization’s system that relates to non-financial statement processes and controls. A SOC 2 report helps your clients satisfy their vendor management, business continuity, or regulatory requirements. It also offers the transparency that will allow your customers to put confidence in the quality of your services and controls.

SOC 3 Audits