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SOC 1 Examination

A successful SOC 1 report demonstrates your commitment to protecting your clients’ financial reporting processes and can also improve the effectiveness of your internal controls over financial reporting.

Types of SOC 1 Reports

Type I

Sunera CPAs assesses the description of your system as well as the suitability of your control design as of a specific point in time. Following the examination, we will issue an opinion regarding:

  • The fairness of your description of the system
  • Whether the controls within the description were in operation at the specified date
  • Whether your controls are suitably designed to meet the control objectives
Type II

A Type II examination includes testing the operating effectiveness of your controls to determine if they are supporting your control objectives over a period of time. Our report includes the same content as a Type I report but also includes an opinion on the effectiveness of your controls and a detailed description of our testing procedures and results.

Benefits of a SOC 1 Report

A SOC 1 report will demonstrate to your clients that you have set up sound control objectives and robust control activities around financial reporting. Additional benefits include:

  • Satisfy contractual requirements from service organization customers and reduce future audit requests
  • Provide clients with added confidence in the security of their information
  • Generate positive publicity by announcing a successful SOC 1 examination
  • Differentiate a service organization from its competitors
  • Benchmark controls
  • Provide third-party assurance of effective controls to internal stakeholders

 

Focal Point Data Risk, LLC ("Focal Point") is associated with Sunera CPAs & Associates LLP (“Sunera CPAs”), a registered CPA firm through an alternative practice structure. The two companies are separate legal entities that work together to serve critical business needs. Focal Point offers risk management consulting services and is not a licensed CPA firm. Sunera CPAs & Associates LLP provides SOC attestation services. 

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