Soc 1 Initials Made Easy

ESign using SOC 1 Type 2 certification

we at sSAE 16 professionals fully understand the many levels of confusion regarding sock one versus sock 2 and type 1 versus type 2 audits allow us to shed some light and hopefully offer some clarification to this subject matter now what are we really talking about here first of all a sock 1 audit is the exact same thing as an sSAE 16 art think of it as technical jargon for example a crawfish is a crawdad and vice versa a sock 1 is an sSAE 16 now let's discuss sock one versus sock 2 and type 1 versus type 2 audits in fact many service organizations think a sock 1 is equivalent to a type 1 and a sock 2 is equivalent to a tight turn this confusion is well-founded we are here to offer some clarification sock 1 and sock to reports are completely different reporting standards think of them as fruit sock 1 can be an apple wala sock 2 is an orange they are both fruit just like the sock 1 and sock doable audits but there are key differences like color taste and texture likewise there are key differences between a sock 1 and sock 2 particularly sock 1 audits are specifically focused on internal controls over financial reporting while sock to reports focus on controls at a service organization relevant to security availability processing integrity confidentiality or privacy okay so now that we understand sock one in sock to let this does type one versus type through audit a type one audit tests of controls are placed in operation as of a specified point in time a type two auto tests the operating effectiveness of controls over a period of time of at least six consecutive calendar months now here's the confusing part there are both sock 1 type 1 and type 2 audits as well as sock two type 1 and type 2 bodies however think of sock beginning with the letter S which designates scope while type 1 or 2 begins with the letter T which designates time covered during the audit on behalf of sSAE 16 professionals we hope this clarifies a confusing yet extremely important subject matter that is proven critical to the growth and success of various service organizations if you have further questions on this please give us a call or contact us through our website you