SOC 1 Audit

A SOC 1 Audit refers to an examination of a service organization’s internal controls over financial reporting. SOC 1 audits are conducted in accordance with the Statement on Standards for Attestation Engagements (SSAE) No. 18, which provides guidelines for auditors performing engagements on service organizations. The primary objective of a SOC 1 Audit is to assess the design and operating effectiveness of controls relevant to financial reporting. These controls are evaluated to ensure that they provide reasonable assurance over the accuracy, completeness, and reliability of financial information processed by the service organization.

What is a SOC 1 Report

By Audit Peak|2024-08-14T17:12:09-04:00August 14th, 2024|SOC 1|

How confident are you in the financial accuracy of your third-party service providers? In today’s complex business environment, this

When Should You Request a SOC Report from Your Service Providers

By Audit Peak|2024-08-14T17:19:52-04:00July 9th, 2024|SOC 1, SOC 2, SOC 3|

Ensuring the security, availability, and integrity of data is paramount for any business, especially when entrusting critical operations to

Best Practices for Navigating a SOC 1 or SOC 2 Audit

By Audit Peak|2024-08-14T17:16:37-04:00August 17th, 2023|SOC 1, SOC 2|

Whether it's to assure stakeholders of the robustness of your internal controls, or as a statutory requirement, System and

Understanding and Defining SOC 1 Control Objectives

By Audit Peak|2024-08-14T19:13:06-04:00July 18th, 2023|SOC 1|

As we navigate the labyrinth of financial controls and audits, understanding specific terminologies and processes can often prove challenging.

Importance of the SOC Bridge Letter in Internal Control

By Audit Peak|2024-08-14T17:28:11-04:00April 19th, 2023|SOC 1, SOC 2|

In the world of internal control and risk management, the term "SOC Bridge Letter" has become increasingly important for

Understanding Agreed Upon Procedures in Auditing

By Audit Peak|2024-07-25T10:14:50-04:00April 15th, 2023|Agreed Upon Procedures, SOC 1|

In the world of auditing and financial reporting, one concept that is often misunderstood or overlooked is Agreed Upon

Addressing Common SOC 1 Audit Challenges

By Audit Peak|2024-08-14T17:26:50-04:00December 29th, 2022|SOC 1|

In today's rapidly evolving business landscape, maintaining the trust and confidence of clients and stakeholders is more important than

How to Scope a SOC 1 Audit: A Comprehensive Guide

By Audit Peak|2024-07-25T08:59:19-04:00October 15th, 2022|SOC 1|

A SOC 1 audit is an essential tool for assessing the effectiveness of a service organization's internal controls over

Understanding Complimentary Subservice Organization Controls

By Audit Peak|2024-08-14T19:16:14-04:00October 13th, 2021|SOC 1, SOC 2|

In today's interconnected business world, organizations are increasingly relying on third-party service providers to perform critical functions (e.g., managed

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