SOC/SSAE 18
About SOC/SSAE 18
The SOC (System and Organization Controls), also known as SSAE 18 (Statement on Standards for Attestation Engagements), is a standard overseen by the American Institute of Certified Public Accountants (AICPA) that governs the way organizations report on their compliance controls.
The SOC 1 report focuses on financial controls, while the SOC 2 report focuses more broadly on availability, security, processing integrity, confidentiality, and privacy within the organization.
The SOC 2 Type 1 report assesses the design of security processes at a specific point in time, while a SOC 2 Type 2 report assesses the effectiveness of those controls over time by observing operations for six months.
By undergoing an SSAE 18 audit, a service organization can provide independent third-party verification about the state of its internal controls governing the integrity, reliability, effectiveness, and security of the processing services provided to user organizations.
This audit can help service organizations distinguish themselves from competitors and improve or sustain business relationships with user organizations.
Does your company need it?
The SOC (System and Organization Controls) is an auditing standard for service organizations. Various industries and organizations often require it for vendors who provide them with services.
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How can Univate help?
At Univate Support, we offer comprehensive assistance to ensure your operations comply with SOC/SSAE 18 requirements. Our services include training, documentation, and implementing policies, procedures, processes, templates, checklists, guidelines, and other necessary controls. We provide end-to-end support until your organization completes a compliance audit, meeting all control requirements.
Our Implementation Approach:
Salient features of our engagement approach are:
- Unique and Proven engagement approach
- End-to-end documentation
- Training on the control implementation and sustenance.
- Complex client implementation experience in different countries
- Cost arbitrage
- Reduce management time required
- Reduce the cost of sustenance
- Reduce cycle time of end-to-end implementation process
- Our unique automation tool automates managing the system
Our assessment and implementation support methodology addresses the key areas like:
- Conduct a Gap Assessment of the existing controls.
- Assess risks and opportunities.
- Define, review and update Policies, procedures, processes, templates, guidelines, and checklists.
- Active support for effective implementation of controls
- Internal audit for compliance
- Corrective and remediation/ preventive actions
- Conduct/support the final compliance audit process
Implementation benefits:
- Enhances customer confidence
- Improves internal controls
- Increases transparency
- Meets regulatory requirements
- Enhances competitive advantage
