Organizations often outsource some of their functions to service providers which can perform the functions professionally and cost effectively. Outsourcing arrangements increase the company's revenue and reduce costs.On the other hand, outsourcing also results in new risks arising from the cooperation with the service providers. In order to manage the risks arising from cooperation with service providers, companies need information about the design, operation, and effectiveness of the controls implemented by the service provider.
SOC 2® reports aim at supporting companies by analysing and evaluating the effectiveness of the service provider's controls.
SOC 2® is a voluntary standard for service organizations, developed by the American Institute of CPAs (AICPA), which specifies how service providers should manage customer data. Two types of SOC2® audit were defined: Type 1 and Type 2. We are able to issue both types of reports.
SOC 2® covers the following domains:
Based on rigorous auditing practices, a SOC 2® Report from Crowe provides assurance that a service provider
Moreover, we can issue SOC 3® Report also. SOC 3® Report is a short, public version of the SOC 2® Type 2 Report. SOC 3® report is designed for users who need a general overview of the service organization’s controls, but do not require a detailed description of the system and the testing procedures.
SOC 3® reports can be freely distributed to anyone, unlike SOC 1® and SOC 2® reports, which are restricted to specified parties.
SOC 3® reports can help service organizations demonstrate their compliance with various standards and regulations.