Why do I need a SOC Report?
For many service providers, the primary reason for engaging in a SOC audit is to satisfy a requirement imposed by a client or regulatory body. Customers expect their providers to provide them with assurance about policies, procedures, and controls that impact the services they buy.
When the need for an audit is not driven by a customer or regulatory requirement, service organizations may also choose to engage in an audit to build trust with their customers and their customers’ auditors by proactively demonstrating that they have established internal controls around the security of information and processing of customer data. A properly designed and executed audit helps to reduce or eliminate the need for customers to send their auditors to their service providers in order to gain comfort around internal controls.