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When companies outsource an activity, they must ensure that the service provider’s internal processes are industrialized, transparent, efficient, and secure. ISAE 3402 and SSAE 18 are international standards that assess the quality of internal processes and enhance the transparency of client/supplier relationships. The SOC 1 / ISAE 3402 report, in particular, is an internationally recognized standard that reduces multiple audits for different clients. By relying on our SOC methodology, RSM supports you in conducting this audit, issuing an attestation, and continuously improving your internal processes.
The assurance of proving to your clients that your internal processes are transparent and optimized!
What Are the Benefits of the SOC 1-ISAE 3402 / SOC 2 / SOC 3 Approach?
Benefits of SOC 1 - ISAE 3402
- For clients: general assurance of compliance with internal processes, policies, and adherence to expectations regarding internal controls related to business and IT processes by outsourced service providers.
For outsourced service providers: the possibility of integration with other control frameworks in financial and IT controls, with staff being made aware of risks.
Benefits of SOC 2 & SOC 3 - ISAE 3402
- The requirements of SOC 2 / SOC 3 align with other frameworks, including ISO 27001 certification and information security principles. This allows you to accelerate the acquisition of other IT security certifications.
SOC 2 / SOC 3 reports demonstrate a strong focus on risk management and robust internal controls. They demonstrate the maturity of your security program, which provides a competitive advantage.
Which Certification Do I Need?
SOC: What Is It?
Service Organization Control (SOC) are control frameworks evaluated through various checkpoints. The goal is to report on the effectiveness of a company's internal controls while providing independent and actionable feedback.
SOC 1: Internal controls over financial reporting
SOC 2 / SOC 3: Review of control and protection levels for data hosting and processing
What Is a SOC 1 - ISAE 3402 Report?
SOC 1 reports evaluate the effectiveness of internal controls that affect the financial reports of a client outsourcing its systems to a service provider. Depending on the need, they may use ISAE 3402 (international framework) or SSAE 18 (US framework). A SOC 1 report allows an opinion on the controls in place at a provider in relation to the preparation of financial statements of entities using subcontractors. As a service provider, this compliance report proves that your internal controls, management, and security measures are reliable and functioning correctly.
What Is a SOC 2 / SOC 3 Report?
Primarily intended for service providers, the SOC 2 report is an examination of the level of control and protection for the hosting and processing of client data. The SOC 2 attestation helps by providing assurance regarding the controls in place for non-financial statements. This examination is based on the Trust Services Criteria — security, availability, processing integrity, and confidentiality (AICPA). To publicly communicate the findings of a SOC 2 report, a SOC 3 report containing essential information but not the detailed testing methodology can be written.
Which Report Fits My Needs and My Clients’ Needs?
- Type 1: Guarantees the evaluation of the design of the controls implemented and their proper implementation.
- Type 2: Guarantees the evaluation of the design of the controls implemented and their effectiveness over a given observation period.
SOC Report Structure
Made up of 5 sections, SOC reports are designed to reassure your clients and explain your procedures and control measures in place. For SOC 2 / SOC 3, they aim to reassure clients and partners.
RSM Supports You in Securing and Managing Your Information Systems
SOC attestations must be carried out by an independent audit firm. RSM, composed of experienced and certified auditors, supports you in obtaining this certification.
RSM’s SOC methodology is a functional, effective concept based on clear specifications of our requirements, continuous communication with clients, and validation throughout the mission. A flexible approach combined with structured procedures will ensure the smooth execution of an audit adapted to your organization’s internal processes.
