System and Organization Controls (SOC) Reports
Building Trust Through Compliance
Demonstrate your commitment to security, privacy and operational integrity.
Compliance That Builds Confidence
Organizations are increasingly relying on third parties to handle financial transactions, customer data, and IT services. This reliance introduces the need for trust and assurance – how can organizations be sure their service providers are handling sensitive information securely and reliably?
SOC reports are independent audit reports issued by Certified Public Accountants (CPAs) that assess an organization’s internal control environment. These reports help businesses demonstrate their commitment to protecting data and provide services in a manner that doesn’t increase the risk surface of their customers.
Abacus Technologies partners with our affiliated company, BMSS Advisors & CPAs, to complete all SOC reports.
Report Type
Shows how your control environment affects your customer’s internal control over financial reporting (ICFR).
Attests to Information Security controls, and can also include Availability, Confidentiality, Processing Integrity, and Privacy.
Publicly available version of a SOC 2 report designed for general audiences, often used as marketing material.
And More…
Set the Stage for SOC Success with our SOC Readiness Assessment
Our SOC Readiness Assessment services help your organization prepare for a successful SOC 1 or SOC 2 examination by identifying gaps, strengthening controls, and aligning your environment with AICPA trust services criteria. We guide you through the process – from scoping and risk analysis to control design and documentation – ensuring your team understands what to expect and how to meet auditor requirements. Whether you’re pursuing your first report or transitioning between frameworks, a readiness assessment helps lay the foundation for audit success.
Q&A
How long does it take to complete a SOC audit?
The timeline varies depending on the type of SOC report and your organization’s readiness. A SOC 1 or SOC 2 Type I report can often be completed in 2–3 months, while a Type II report, which includes a historical operating period (typically 3–12 months), takes longer. A readiness assessment before the audit can streamline the process and help avoid delays.
What makes a SOC engagement successful?
SOC audits aren’t technically “pass/fail,” but successful engagements are built on well-defined and consistently documented processes, strong evidence demonstrating effective control operation, thorough user access reviews, and a culture of consistent security practices.
What is the difference between a Type I and Type II SOC report?
A Type I SOC report evaluates the design of your controls at a specific point in time. In contrast, a Type II report assesses both the design and operating effectiveness of those controls over a defined period – typically 3 to 12 months – providing a higher level of assurance to your customers. An organization will typically obtain a SOC (1 or 2) Type I for their first report, and Type II reports annually thereafter.
Whether it’s your first report or a renewal, we are here to turn compliance into a powerful business driver.
Let us help you simplify the SOC reporting process and turn compliance into a competitive edge. From preparation to audit support, we will guide you every step of the way.
Start Making Smarter Decisions for Your Organization
Your business runs on data. Let’s make it work harder for you. Whether you’re exploring options or ready to get started, Abacus will help you take the next step with confidence.
