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SOC 2 Audits – Florida

SOC 2 Examinations – Florida

Florida 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 robust internal controls and cybersecurity policies and practices are 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.

Florida SOC 2 Audits

McKonly & Asbury provides SOC audits to companies in  Florida 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.

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About Florida

The Florida business community is a dynamic and diverse economic ecosystem that plays a vital role in the state’s overall prosperity. With a large and growing population, a strategic location, and a business-friendly environment, Florida has become a magnet for entrepreneurs, corporations, and small businesses alike.

Florida’s economy is driven by a variety of industries, including tourism, aerospace and aviation, healthcare, agriculture, and technology. The state’s beautiful beaches, theme parks, and warm climate make it a top destination for tourists, contributing significantly to the hospitality and entertainment sectors. Moreover, Florida is home to NASA’s Kennedy Space Center, bolstering the aerospace and aviation industry.

Healthcare is another cornerstone of Florida’s economy, with renowned medical institutions and a burgeoning biotech sector. The state’s agriculture sector is known for citrus fruits, vegetables, and cattle ranching, while the technology sector, particularly in areas like Miami and Tampa, is rapidly expanding.

McKonly & Asbury also provides SOC 2 examinations to companies in Arkansas, Arizona, California, Colorado, Delaware, Florida, Georgia, Indiana, Iowa, Illinois,  Kentucky, Maryland, Michigan,  New Jersey, North Carolina, Ohio, Pennsylvania,  South Carolina, Tennessee, Texas,  Washington, West Virginia and Utah.