A System and Organization Controls (SOC 1) audit is a thorough independent assessment of a service organization’s internal controls that are relevant to its clients’ financial reporting. This audit verifies that the controls are appropriately designed and operating effectively to ensure the integrity and confidentiality of financial data processed on behalf of clients. SOC 1 audits are essential for organizations that provide outsourced financial services, including payroll processing, transaction management, and other functions that impact financial statements.
SOC 1 reports are issued in two formats: Type I, which evaluates the design and implementation of controls at a specific point in time, and Type II, which also assesses the operational effectiveness of those controls over a defined period. By undergoing a SOC 1 audit, service organizations provide their clients and stakeholders with assurance and transparency, helping to mitigate risk and strengthen trust in outsourced financial processes.
KBS specializes in guiding service organizations through every stage of SOC 1 audit compliance. Our process begins with a comprehensive assessment of your existing internal controls related to financial reporting, identifying gaps and opportunities for improvement.
Throughout the audit lifecycle, KBS offers expert support to facilitate clear communication with auditors and to promptly address any findings. Our approach not only ensures compliance but also enhances operational efficiency and builds confidence among your clients and stakeholders. Partner with KBS for a seamless and effective SOC 1 compliance journey.
KBS Certification is a globally recognized certification body specializing in independent SOC 1 compliance audit services. We assist service organizations in establishing and maintaining robust internal controls essential for ensuring the accuracy and reliability of financial reporting. Our thorough audit methodology guarantees adherence to SOC 1 standards, providing your clients and stakeholders with confidence and transparency.
With a portfolio of over 7,000 clients, KBS combines global expertise with localized knowledge to deliver tailored audit and compliance solutions. KBS has extensive experience across diverse sectors, including healthcare, finance, technology, and insurance. Our commitment to delivering objective and comprehensive assessments goes beyond standard checklists, enabling organizations to strengthen their control environment and demonstrate SOC 1 compliance with assurance.
Eng
SIGN IN TO KBS ACADEMY