System and Organization Controls 1
Date Published
2011
Category
Information Security
Version
SSAE 18
Description
The SOC 1 framework is a set of standards designed to evaluate an organization's controls that are relevant to the financial reporting of its clients. It helps ensure that the organization has effective internal controls in place to protect the accuracy and reliability of the financial data they process on behalf of their clients. The SOC 1 report is primarily used by the organization's clients and their auditors to assess how the provider's controls might impact the clients' financial statements.
Overview
The SOC 1 framework is designed for organizations that handle financial data on behalf of their clients. Its purpose is to ensure that these organizations have strong internal controls in place to protect the accuracy and reliability of their clients' financial reporting. It's primarily used by clients and their auditors to assess the impact of the provider's controls on the clients' financial statement
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