SOC Internal Control Audits

When a business' financial statements are audited, their auditor needs information about the internal controls over financial reporting, including controls at their outside service companies (for example, 401k plan recordkeepers, third party administrators, or other businesses that require SOC 1 audits). To obtain that information the business engages a CPA to perform an examination of the controls at the outside service company as a Service Organization Control or SOC audit. The financial professionals at Rizick & Rizick CPAs have the skills and experience to conduct internal control audits and deliver two types of SOC reports that provide assurance that financial reporting is adequately protected, controlled, and processed by a business.

SOC 1, Type 1 and SOC 1, Type 2 Audits

SOC1, Type 1 audits provide a description of your company’s internal controls over financial reporting. SOC 1, Type 2 audits provide and test the description of your company’s internal controls over financial reporting. SOC 1 reports validate the organization’s commitment to delivering high quality, secure services to clients and can also be a marketing tool for prospective customers.

To learn more about how we can perform this type of audit and deliver a SOC report for your organization, call us at 732-387-0872 now or request a phone consultation through our website.