Completing a SSAE 16 (aka “SOC 1”) or SOC 2 audit for the first time can seem like a daunting task. Clients have many questions around the scoping of the report, documentation requirements, and how much time and company resources it will take to complete the audit. With so many uncertainties, SSAE 16 Professionals can assist with preparing for the audit.
We perform a very detailed readiness review and provide you with a gap matrix on what would pass right away and what would fail. We list the failed controls in priority order and provide a detailed action plan which will allow you to remediate the gaps. Some firms go right into the SSAE 16 or SOC 2 audit and realize there are issues which result in a qualified opinion. By that time, you have spent a lot of time and money only to get a qualified report, which is useless to your company. With our approach, we perform a detailed readiness review, allow you fix the issues, and then either perform a Type I engagement or start the clock ticking on a 6 or 12 month coverage period for a Type II engagement. For a Type II, we return at the end of the coverage period, test back through the period, and proceed to the report processing as soon as the coverage period ends.
Our readiness methodology is much more detailed than others who quote a low fee and then highly gloss over selected areas. We do a full and complete SSAE 16 or SOC 2 readiness run through of all controls and provide detail on what needs to be done to pass every test associated with general controls and application level controls.
Many of our first time clients prefer to engage us to perform both the readiness assessment and the SSAE 16 or SOC 2 audit. This allows us to assist management prepare for the audit, while gaining critical knowledge of key processes. This unique combination of services allows us to gain efficiencies, thus reducing audit fees.
SSAE 16 Professionals has assembled top tier leadership to help our clients through the SOC Report Readiness Assessment process. For further information regarding the benefits of Readiness Assessments, or to request a fee proposal from SSAE 16 Professionals, please visit our Contact Us page to submit an informational form or call 1-866-480-9485 today. We would look forward to hearing from you!