Service Organization Control (SOC) Engagements

Accounting System Consulting Serices in Minneapolis, MN
In addition to our Tax and Accounting services, Copeland Buhl & Company PLLP is also certified to perform Service Organization Control (SOC) engagements. Many companies use service organizations to perform certain functions, and performing a SOC engagement can provide customers and prospects assurance that controls over areas such as IT security, data availability, processing integrity, confidentiality, financial reporting, and privacy are properly in place.

Benefits of a SOC Report:

  • Demonstrate that your internal controls are in place and functioning correctly
  • Show customers the seriousness with which you take security and confidentiality
  • Provide additional financial statement validity
  • Provide a report for customers on important non-financial data

Copeland Buhl & Company PLLP can perform SOC engagements for your organization at three different levels to meet your company's needs.

SOC 1

  • Focus on internal control over financial reporting
  • Provides a detailed report for financial statement auditor or stakeholders
  • Evaluates financial transaction processing systems

SOC 2

  • Report can apply to any system, not just financial
  • Report on any of the following: Security, Availability, Confidentiality, Processing Integrity, Privacy
  • Report includes infrastructure, software, people, procedures and data
  • Provides a detailed final report meant for restricted use

SOC 3

  • Same focus as SOC 2
  • Provides a short report and a report for general distribution
  • After undergoing SOC 3, companies may use SOC 3 logo seal on website

 

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For more information about SOC engagements, please contact us.