How to Successfully Navigate the SOC Examination Process
December 12, 2017
Across nearly every industry, third-party service providers are now critical business partners, prompting clients to be more diligent in managing vendors and evaluating service provider control environments. Thus, many clients are requiring Service Organization Controls (SOC) reports to gain assurance that your relevant controls are consistent, documented, and operating effectively.
But, before diving into a SOC examination, it is critical that you understand exactly what it entails for you, your organization, and your staff. What are the examination’s key stages, as well as the responsibilities and requirements of each? This understanding, combined with the right internal team and audit partner, can maximize efficiency, clarity, and — most importantly — value.