As SSAE 16 audits replace SAS 70, the addition of three new service organization controls (SOC) reports have also been developed as indicators of data center standards of excellence. SOC 1 reports on the controls relevant to financial reporting; the same as a SSAE 16 audit.
Types of SOC 1 reports:
- Type 1 - reports on an independent auditor’s opinion on the accuracy and completeness of the data center’s controls, system and service design.
- Type 2 - includes everything in Type 1 as well as an audit on the effectiveness of the controls over a certain time period (typically between six months and a year).
Who uses a SOC 1 report?
The purpose of the SOC 1 report is to meet the financial reporting needs of companies that use data hosting services (primarily for use by CPAs, or Certified Public Accountants). User auditors and users’ controller’s offices use SOC 1 reports for financial reports.
If your company needs compliant SOC 1 hosting to abide by financial statement regulations and laws, Online Tech’s solutions are a great fit. As one of the first Michigan data center to achieve an SSAE 16 audit and the first colocation and private cloud provider to complete a SAS 70, Type 2 audit, Online Tech has stayed at the forefront of evolving data center industry standards to provide quality hosting services.
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