“What is a SOC Report and why should I be insisting on it?”

“System and Organization Controls” (SOC) Reports were developed by The American Institute of Certified Professional Accountants (AICPA).  These reports are utilized by independent, third-party auditors to examine a service organization’s controls put in place to protect their clients’ assets. “Controls” being a policy, process, or procedure that is created to achieve a desired event or to avoid an unwanted event. The two most common types of SOC Reports are: SOC 1 – focused on outsourced services [...]