SOC 2 Audits – Charleston (WV)

SOC 2 Examinations

Charleston and West Virginia 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.

Charleston SOC 2 Audits

McKonly & Asbury provides SOC audits to companies in Charleson, West Virginia, 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 Charleston (WV)

About Charleston (WV)

One of the key sectors driving the Charleston business community is energy. West Virginia has a rich history in coal mining, and while the industry has faced challenges in recent years, it remains a significant economic driver. Many energy companies have their headquarters or regional offices in Charleston, employing a considerable number of residents in areas such as mining, natural gas, and renewable energy.

In addition to energy, healthcare plays a crucial role in Charleston’s business landscape. The city is home to major hospitals, medical centers, and healthcare organizations, providing quality healthcare services to the region. These institutions not only contribute to the local economy but also attract medical professionals, researchers, and entrepreneurs to the area.

Charleston also has a diverse mix of businesses in sectors such as manufacturing, technology, retail, hospitality, and finance. Manufacturing companies produce a range of goods, including chemicals, plastics, metals, and construction materials. Technology firms contribute to the city’s digital transformation and innovation, while retail and hospitality establishments cater to the needs of residents and visitors alike. The finance sector includes banking institutions, insurance companies, and financial services providers that support the financial needs of businesses and individuals.