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SOC 2 Audits – Anchorage (AK)

SOC 2 Examinations

Anchorage and Alaska business owners need to ensure sensitive data is protected, especially when it comes to the financial and personal identification information (e.g. social security numbers) of customers and clients. Ensuring there are robust internal controls and cybersecurity policies and practices in place to protect against a breach is essential. Increasingly, many clients and customers are asking their vendors for a Systems Organization Control (SOC 2) Audit Report as a condition for doing business with them, or, in the case of contract renewals, continuing these relationships. A SOC 2 Report is an opinion on the effectiveness and design of an organization’s internal controls that meet the AICPA Trust Services Criteria. In essence, it is a statement verifying the effectiveness of an organization’s risk management efforts to protect the information of its customers and clients.

Anchorage SOC 2 Audits

McKonly & Asbury provides SOC audits to companies in Anchorage, Alaska and beyond. Typically, we work with organizations that use or store sensitive financial and personal data that cybercriminals want. Our clients include data centers, loan servicing companies, insurance companies, medical claims processors, payroll providers, and more. Broadly, any 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 2 audits:

• SOC 2 Type I – A SOC 2 Type I report is an opinion on management’s description of a service organization’s system and the suitability of their design of controls that meet the AICPA’s Trust Service Criteria for Security. It can also address Availability, Processing Integrity, Confidentiality, and/or Privacy, depending on the requirements of your customers. The report is made up of the auditor’s opinion, management’s assertion on the presentation and design of the controls, a description of the service organization’s systems and controls, and a listing of the organization’s controls. The SOC 2 Type I audit report differs from the SOC Type II in that the former covers ONLY the suitability of the design and addresses ONLY at one specific point in time.
• SOC 2 Type II – A SOC 2 Type II report is an opinion on management’s description of a service organization’s system and the suitability of the design and operating effectiveness of controls that meet the AICPA’s Trust Service Criteria for Security. Similar to a SOC 2 Type I, this report can also address Availability, Processing Integrity, Confidentiality, and/or Privacy, depending on the requirements of your customers. A SOC 2 Type II audit report contains the same core components as a Type I, but Type II is expanded to include the procedures used by the auditor to test the stated controls and the results of such tests over a defined period, rather than a single point in time.

Map of Anchorage (AK)

About Anchorage (AK)

One of the key sectors driving the Anchorage business community is resource extraction. Alaska is known for its abundant natural resources, including oil, gas, minerals, and seafood. Anchorage serves as a major center for the energy industry, with companies involved in exploration, production, and support services. The city’s strategic location near the North Slope oil fields and Cook Inlet gas reserves contributes to its importance as an energy hub.

Anchorage is also a major transportation and logistics center. The city’s Ted Stevens Anchorage International Airport is a vital link connecting Alaska to the rest of the world, facilitating the movement of people and goods. Anchorage’s strategic location at the crossroads of air, sea, and land transportation routes makes it an ideal hub for logistics, distribution, and warehousing. Additionally, the Port of Anchorage serves as a critical gateway for importing and exporting goods, supporting international trade.

Tourism plays a significant role in the Anchorage business community. The city serves as a gateway to the stunning landscapes and wildlife of Alaska, attracting visitors from around the globe. Tourism-related businesses, including hotels, restaurants, tour operators, and retail establishments, contribute to the local economy and provide employment opportunities.