Every year as summer draws to a close, one of the most sought-after topics for discussion that clients, business associates, and others reach out to our firm about is regarding Gap Letters— sometimes called Bridge Letters.
Tag: SOC 1
The Cloud Security Alliance (CSA) and the AICPA
With all the commerce and other types of transactions and information that traverse the Internet, it is useful that there are organizations such as the CSA, AICPA, and many others, which are focused on serving the public’s interests. And while nothing will ever give complete assurance as to the internal controls for a service organization, SOC audit reports go a long way to providing a level of assurance that is acceptable to most people and organizations.
SOC Certifications: Are SOC 1 & SOC 2 Audits Actually Certifications?
There is no such thing as a SOC or SSAE 16 (known as SOC 1, which is the marketing name for the standard) certification.
SOC 1 (f. SSAE 16) Review Guidance
Many U.S. companies receive what, until recently, were called SAS 70 audit reports from certain types of vendors.
SOC 1 vs. SOC 2 – What is the Difference and How do you Know What you Need?
Many of our clients and prospects get asked for a “SOC report” without any further clarification. Also, many get asked for a SOC 1 and a SOC 2… so how do they know what they need? Do they need both? Just one? We get these questions all the time, and with a quick conversation, we […]
How Long Does a SOC Examination Take?
We are frequently asked how long it takes to complete a SOC examination. Unfortunately there is not an answer that fits for every examination because every service organization is different. But, if an organization has controls in place the average time taken for a SOC examination is typically one to three months for Type I reports, and six to 12 months for Type II reports. If controls are not in place, the examination can take longer.
What is a Third Party Administrator (TPA) Audit?
A Third Party Administrator (TPA) is a service organization that provides a variety of services to the insurance industry in accordance with a service agreement.
How Long Will It Take To Get Your First SOC Report?
We hear this question all the time from new clients and prospects. How long will it take for us to prepare the required documentation for a SOC report?
Need a SOC Report? How To Know Which One Is Best For Your Service Organization
A SOC (System and Organization Controls) report is a report on controls at a service organization related to various types of subject matter, for example: controls that affect user entities’ financial reporting; controls that affect the security, availability, and processing integrity of the systems; or the confidentiality or privacy of the information processed for user entities’ clients.
Findings/Issues in SOC Reports. What Can the Impact Be?
At Linford & Company we perform many SOC 1 (f. SSAE 16) and SOC 2 engagements.