Delivering on the Promise of SOC 1 compliance.

Achieve compliance and gain market share ▪ Stop redundant customer audits ▪ Partner with experts who understand your industry and the regulatory pressure you face ▪ Give customers confidence that your service organization meets the highest global standards for internal controls ▪ Differentiate your company from competitors ▪ Eliminate additional customer audits and self-assessment questionnaires ▪ Gain instant credibility, the potential to grow your market share, and the ability to independently assess controls.

Skoda Minotti provides an affordable, efficient approach to SOC 1 (previously SSAE 16) compliance. We bring Big 4 expertise – without the expense – to clients ranging from small private firms to Fortune 500 companies. Our audit specialists will design a customized process to help your organization benchmark and compare internal controls against industry best practices. We also specialize in assisting with first-time compliance.

Understanding SOC 1. SOC 1 is an internationally recognized third-party assurance audit designed for service organizations that replaced SAS 70 in 2011. Service organizations that impact their clients’ internal controls over financial reporting should consider a SOC 1 report to meet customer requirements. If security, confidentiality, availability or processing integrity is a critical concern, a SOC 2 report may be the more appropriate standard.

Want more information on the transition from SSAE 16 to SSAE 18 ? Click here to learn more.

Benefits of a SOC 1 report. SOC 1 provides service organizations benchmarks for comparing their internal controls with industry best practices. In addition to having a vetted independent third-party review of your organization, additional benefits include:

  • Instant credibility
  • Third-party perception
  • Confirmation that controls, procedures, and process are in place as management intends
  • Independent assessment of controls
  • Potential to grow market share
  • Reduction of third-party self-assessment questionnaires
  • One audit report can satisfy multiple customers

SOC 1 Examination Services:

  • SOC 1 Readiness Assessment. Preparing for your first SSAE 16/SOC 1 audit? This is where we’ll start. Skoda Minotti conducts readiness assessments for organizations that are new to SSAE 16/SOC 1.
  • SOC 1 Transition Services. Ensure compliance with new SSAE 18 requirements as you move from SSAE 16 compliance to this updated standard.
  • SOC 1 Type I. You have policies and procedures in place, but need to gain a better understanding of SOC 1. A Type 1 engagement prepares an organization for the Type II report, and provides an assurance report on the design of internal controls as of a specified date.
  • SOC 1 Type II. Earn the highest level of assurance for SOC 1. Type 2 reports not only evaluate the design of controls but include testing to illustrate the operating effectiveness of your controls over a period of time

Visit our FAQs to find out more about SOC 1 Type I and II examination reporting.

Your Guide. Which SOC report does your company need? Click below to get your free reference guide.

Questions? Contact Ben Osbrach and he’d be glad to help.

Ben Osbrach, CISSP / CISA / QSA