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SOC 2 Examinations – Scranton (PA)

SOC 2 Audits – Scranton (PA)

 

SOC 2 Examinations

Scranton and Pennslyvania business owners need to protect sensitive data, especially regarding 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 continuing these relationships in the case of contract renewals. 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.

Scranton SOC 2 Audits

McKonly & Asbury provides SOC audits to companies in Scranton, Pennslyvania 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, and payroll providers. 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 Scranton (PA)

About Scranton (PA)

One of the defining features of Scranton’s business community is its adaptability. As the coal industry faced challenges and transformations, Scranton businesses diversified and sought new opportunities. This flexibility allowed the city to transition from a primarily industrial economy to a more diverse and resilient one.

The healthcare sector in Scranton has grown significantly over the years. The city is home to well-regarded medical facilities, hospitals, and healthcare providers that serve both the local community and the broader region. This sector has not only created jobs but also improved access to quality healthcare for residents.

Education has also played a pivotal role in Scranton’s business landscape. The city is home to several higher education institutions, including the University of Scranton, which contribute to the local economy and provide a skilled workforce for various industries. This synergy between education and business has helped nurture innovation and entrepreneurship.

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McKonly & Asbury provides SOC 2 Audit services remotely to businesses in Scranton from our Pennsylvania office locations. Interested in learning more about the SOC 2 audit services offered to companies in Scranton and Pennslyvania. Complete the form below and we will follow up with you shortly.

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