The SSAE 16/SOC Audit is no joke. It’s a very important tool for service organizations and should be taken seriously. The last thing an organization wants is to receive a qualified opinion on their audit.
In recent years regulators have transitioned toward control reporting standards that are more specific to the service offering provided by the service organization. Enter, SSAE 16, or Statement on Standards for Attestation Engagement No. 16.
If you are a customer of a service organization or the service organization itself, merely obtaining a SSAE 16 (SOC 1) or SOC 2 attestation report isn’t the end of the process. As you review the SOC audit report pay particular attention to the following areas of the report.
Many organizations outsource a wide variety of services in Business to Business relationships. The business decision to outsource can be influenced by a number of factors. Regardless of the underlying reason to outsource to a service provider, the responsibility always remains with the organiza