Tech Insights: Trust and Transparency in a Cloudy World

In a world of cloud computing and business process outsourcing, SOC reporting assures companies that their data, particularly their financial data, is secure when in a vendor’s hands, as well as demonstrates the trustworthiness of a service organization. Evolving from the original SAS 70 auditing standard, the following Service Organization Controls (SOC) reports are currently available:

• SOC 1, Type 1 & 2. Financial assurance. Direct predecessor of SAS 70.
• SOC 2, Type 1 & 2. For data integrity and security. Also known as the auditor-to-auditor report.
• SOC 3 (SysTrust or WebTrust). For data integrity and security. Leveraged for marketing.

Clients need assurance that their information is safe and that the results are reliable. Service organizations with a SOC report have a competitive advantage.

Trust and Transparency in a Cloudy World addresses SOC reporting in further depth, including:

• The old SAS 70 standard
• The new SSAE 16 standards
• The details and differences of each report
• When and how to pursue a SOC examination

For questions about which report is right for your organization, contact Brian Thomas, Weaver partner-in-charge, IT advisory services, or Neha Patel, Weaver partner, IT advisory services.