Service organizations that provide outsourced services such as data centers, cloud computing, SaaS (Software as a Service) providers, trust departments, transfer agents, retirement plan administrators, as well as medical claims, credit card and payroll processors may need to provide their clients’ auditors and other third-party users assurance that their internal controls over financial reporting are properly designed and operating effectively. Statement on Standards for Attestation Engagements No. 16 (SSAE 16) establishes the criteria that service organizations must meet to receive an unqualified opinion. SSAE 16 engagements, also known as SOC 1 engagements, can provide the information your customers need. At HCVT, we tailor our SOC 1 engagement approach to your industry risks with a focus on the key areas that impact internal controls and financial reporting.
To learn more about SOC reports, click here.