Service Organization Controls

Recent News

Webinar: SOC Reports 101 & New Standards Update

Buchbinder Tunick & Company invites you to a webinar on June 15th at 11am ET that will provide an overview detailing everything you need to know about SOC Reports, how they impact your organization, when they are needed and information on the new standards.

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As a service provider, you are under intense pressure by your clients to ensure that your financial and technology internal controls are compliant and capable of serving the needs of their businesses. Many service organizations like yours opt for SOC reporting, readiness assessments, and audits. Your clients will feel an increased comfort knowing that not only can you perform the services they require, but that an independent CPA firm has closely scrutinized and evaluated your internal controls.

By taking a proactive approach to your SOC reporting, readiness assessments and audits, you can create one set of reports that can be used to satisfy multiple client requests and inquiries – an option that proves much more efficient than going through the audit process multiple times or accommodating a different group of auditors for every individual client request.

At Buchbinder in New York, we specialize in assessing and attesting for internal controls, and we are often engaged to provide SOC reporting, readiness assessments, and audits, as well as reports along with consulting services to help companies like yours through the process in an efficient and effective manner.

What We Offer

Readiness Assessment

We recommend that companies preparing for first-time SOC reporting assess their internal controls prior to conducting the formal audit. Our Readiness Assessment services are customized to your needs and to your available resources. We assist management in identifying the controls that are most appropriate for your in-scope services and your customer base. We also evaluate your organization’s overall ability to meet the identified controls, and we provide recommendations on how the organization can improve business processes. Our approach consists of a combination of planning and preparation services designed to assist you in getting ready for your initial SOC audit and measure the readiness of your organization in undergoing a full SOC audit.

SOC 1/SSAE 18 Audit
SOC 2 (Trust Principles) Audit
SOC 3 (Trust Principles) Audit

What To Expect

During our engagements, we’ll work to gain a full picture of your internal control framework, understand the significant transaction cycles, and break your systems down to a granular level. We’ll then test the relevant control objectives and controls, their supporting activities, and present you with a SOC report that you can then provide to your clients.

We will work closely with your organization’s IT department as part of our overall evaluation of the IT environment and the risks that software have on your everyday functions. We will typically look at access to systems and data, back-up and recovery, change management, problem management, and your technical infrastructure. Improving controls that may be somewhat informal or deficient to increase your own reliance on your systems is often part of the process – and an added bonus for many of our clients.

Who We Work With

We prepare SOC reporting, readiness assessments and audits while providing consulting services for service providers in many industries throughout New York, New Jersey, Maryland, Virginia, and Washington, D.C including:

  • Employee benefit plans
  • Insurance brokerage firms
  • Real estate management companies
  • Fulfillment companies
  • Third-party administrators
  • SAAS/web application providers
  • Data centers/Co-Location centers
  • Managed service providers
  • Debt collection agencies
  • Billing companies
  • Payroll services
  • Registered investment advisors
  • Credit card processors