SOC 1 report: Difference between revisions
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imported>Doug Williamson (Create page. Sources: The Treasurer Dec 18 / Jan 19, p25 & Techtarget webpage https://searchcloudsecurity.techtarget.com/definition/Soc-1-Service-Organization-Control-1) |
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Revision as of 20:44, 3 February 2019
Information technology - standards.
A SOC 1 report covers Service Organization Controls. These are internal controls that are likely to be relevant to an audit of financial statements.
A SOC 1 report is written documentation of the internal controls that are likely to be relevant to an audit of a customer’s financial statements.
SOC 1 is divided into Type 1 and Type 2 reports.
- A Type 1 reports on a service organization’s suitability of design of controls on a specific date
- A Type 2 reports on the effectiveness of the control design over a period of time.