SOC 1 Examinations – Philadelphia (PA)
SOC 1 Audits – Philadelphia (PA)
SOC 1 Examinations
Philadelphia and Pennsylvania business owners need to ensure sensitive data is protected, especially when it comes to the financial and identification information (i.e. social security numbers) of customers. Ensuring there are robust internal controls and cybersecurity policies and practices in place to protect against a breach is essential. In fact, many customers may expect to see a Service Organization Control (SOC) Audit report before doing business with a service provider. This audit verifies that the tools, processes, and procedures have been tested and are effective. Some may desire a SOC 1 audit, while others will obtain more value from a SOC 2 audit or SOC 3 audit. Whatever the desired level of assurance, it’s important to work with an experienced provider to drive the process.
Philadelphia SOC Audits
McKonly & Asbury provides SOC audits to companies in Philadelphia and Pennsylvania. Typically, we work with those that use or store sensitive financial and other data that cybercriminals may want. Some examples include data center companies, loan servicing companies, medical claims processors, and payroll companies. Broadly, any service organization that provides services to customers that directly impact the customer’s financial statements would be a candidate for such a report. Service organizations should evaluate their needs along with their customers’ reporting needs prior to determining the type of SOC report that is applicable to their needs. There are two types of SOC 1 audit, including:
- SOC 1 Type I – These reports are defined as a report on the fairness of the presentation of management’s description of a service organization’s system and the suitability of the design of controls to meet the related control objectives. SOC 1 Type I examinations focus on the service organization’s system narrative, as well as the design effectiveness of the controls within the system, and are focused on the system and controls in place at a specific point in time.
- SOC 1 Type II – These reports are defined as a report on the fairness of the presentation of management’s description of a service organization’s system and the suitability of the design and operating effectiveness of controls to achieve the related control objectives. SOC 1 Type II examinations differ from the Type I examination since the reports include an opinion on the operating effectiveness of the controls, in addition to the design effectiveness covered in Type I.
Map of Philadelphia (PA) – 19106
About the Philadelphia (PA) Business Community
Philadelphia, Pennsylvania, boasts a dynamic and diverse business community, with key sectors including finance, healthcare, biotechnology, information technology, manufacturing, and tourism. The city is home to several Fortune 500 companies, such as Comcast, Aramark, and FMC Corporation, underscoring its prominence in the corporate world. The financial services sector is a cornerstone of Philadelphia’s economy, with the city housing the Philadelphia Stock Exchange, a global leader in options trading. Additionally, the city is a hub for information technology and biotechnology, attracting new life sciences ventures and ranking among the top U.S. venture capital hubs. Healthcare is another significant industry, with institutions like the University of Pennsylvania Health System and the Children’s Hospital of Philadelphia contributing to the city’s status as a major health education and research center. The area codes used in Philadelphia (PA) are 215, 267, and 445.
Contact Us
McKonly & Asbury provides SOC 1 Audit services to businesses in Philadelphia from our Pennsylvania office locations. Interested in learning more about the SOC 1 audit services offered to companies in Philadelphia and across Pennsylvania? Complete the form below and we will follow up with you shortly.
National Reach
McKonly & Asbury also provides SOC 1 Examinations for businesses and organizations at the following locations: Baltimore (MD), Boston (MA), Chicago (IL), Dallas (TX), Denver (CO), Indianapolis (IN), Las Vegas (NV), Los Angeles (CA), Memphis (TN), Miami (FL), New Orleans (LA), New York City (NY), Portland (OR), Richmond (VA), Salt Lake City (UT), and Seattle (WA).