SOC 2 Audits – Des Moines (IA)
SOC 2 Examinations
Des Moines and Iowa 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.
Des Moines SOC 2 Audits
McKonly & Asbury provides SOC audits to companies in Des Moines Iowa, 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 Des Moines (IA)
About Des Moines (IA)
The Des Moines business community is a vibrant and diverse economic hub in the state of Iowa. The city of Des Moines, as the state capital and largest city in Iowa, offers a range of industries and business opportunities.
One of the prominent sectors in the Des Moines business community is insurance. The city is often referred to as the “Insurance Capital of the Midwest” due to its significant concentration of insurance companies. Several major insurance companies have their headquarters or significant operations in Des Moines, including Principal Financial Group, American Equity Investment Life Insurance Company, and EMC Insurance Companies. The insurance industry plays a vital role in the local economy, providing employment and attracting professionals in various fields.
Additionally, the agriculture industry is integral to the Des Moines business community. As Iowa is known for its fertile farmland and agricultural production, Des Moines serves as a regional center for agricultural business and innovation. The city hosts the World Food Prize, an international event that recognizes contributions to improving global food security. Several agricultural companies and organizations, such as DuPont Pioneer and the National Pork Board, have a presence in Des Moines.
The technology and startup scene in Des Moines has been growing in recent years. The city has seen the emergence of numerous tech startups, particularly in sectors such as software development, financial technology, and data analytics. The Greater Des Moines Partnership, a regional economic and community development organization, has been actively supporting the growth of the technology sector through initiatives, resources, and networking opportunities.
McKonly & Asbury provides SOC 2 Audit services remotely to businesses in Des Moines from our Pennsylvania office locations. Interested in learning more about the SOC 2 audit services offered to companies in Des Moines and Iowa. Complete the form below and we will follow up with you shortly.