As an external service provider, we design our processes to meet the client’s operational and processing needs. We focus on providing the clients’ services in an efficient and effective manner. We ensure that the client also needs to (i) understand controls over the processes they have outsourced and their effect on their internal controls; (ii) evaluated the design of those controls; (iii) have confidence that the controls are functioning as intended.
Service Organization Controls (SOC) Reports are prepared in accordance with the International Auditing and Assurance Standard Board’s (IAASB) International Standard on Assurance Engagement (ISAE) 3402 or the American Institute of Certified Public Accountant’s (AICPA) Statement on Standards for Attestation Engagements (SSAE) No. 16. These standards allow independent auditors to issue reports that help meet the compliance and audit needs of the client.
Our approach is focused on helping in meeting the client’s audit and compliance requirements. It includes the following :
• Working to understand the client’s regulatory and compliance needs in order to develop a strategy for meeting those needs;
• Working to understand the client’s regulatory and compliance needs in order to develop a strategy for meeting those needs;
• Assisting in developing the control objectives of the processes’
• Assisting in planning an appropriate approach to the risk assessment and identifying the basis of assertion;
• Helping the personnel identity that controls it has implemented to address the control objectives;
• Assisting in describing the controls in the SOC Reports
• Reporting on the results of our testing on design and operating effectiveness of the controls.
