Why ISAE 3000 Audit is Significant for Your Business?

The variation between ISAE 3000 3402  audit is that ISAE 3402 audit & report covers a service company's internal managements that are most probably authentic to a user company's internal operation over financial reporting, the ISAE 3000 level covers independent assurance engagements other than inspects or reviews of previous financial data. The ISAE 3000 audit can be used to convey a suggestion on a service organization’s security, accessibility, and privacy of the information as well as the processing integrity of the organization's management.

Under the ISAE 3000 audit, it is possible to manifest a suggestion on all the above SOC 2 audit factors (i.e., security, availability, privacy, and processing integrity) or on only specific or more factors. For instance, a suggestion can be conveyed on only privacy. A viewpoint can also be demonstrated on only security like compliance with ISO 27001.

There is some uncertainty between ISAE 3000 SOC 2 audit and ISO 27001 so that PwC currently introduced a report that describes the divergence between the both. ISO 27001 has long been seen as the standard in data security but the coming of the SOC 2 audit has released new sheets in data and info security guarantee. ISAE 3000 SOC 2 is explained by PwC as ‘permitting for the examining of the operational efficacy of security managements over a phase.

What IS ISAE 3000 Audit SOC 2?

If a company, like Accorp Partners, is ISAE 3000 SOC 2 authorized, then you are reliable in auditing and compliance with the five main factors of Security, Availability, Processing Integrity, Confidentiality, and Privacy. These aspects have been progressed in adjustment with the requirement for security – this is one of the factors that are compulsory– and to make sure that companies are offering formal documentation at the conclusion of the audit activity. It’s more than only the authorization of compliance provided by ISO 27001.

The ISAE 3000 SOC 2 report usually verifies that any service company that you collaborated with has followed with the needs and maintains your data safe and secure. This results that any data or information you assign to a service organization with this formal documentation being managed to the highest levels of security, compliance, and privacy.

Moreover, ISAE 3000 3402 SOC 2 certification offers you assurance in a challenging world. And that’s the thing which every company demands.

SOC 1 & 2 Type 1 and Type 2 Audits

Both the ISAE 3402 (SOC 1) and ISAE 3000 (SOC 2) levels permit for the proclaiming of two types of SOC reports:

SOC Type 1 Report

This SOC 2 report exhibit a recommendation on only the structure and introduction of internal controls. For example, a design carelessness directs to the lack of dominance or a badly designed control or deficient execution. The SOC Type 1 audit is usually issued the first time when a utility organization hasn’t found a SOC 1 audit or SOC 2 audit earlier.

SOC Type 2 Report

This SOC 2 Type 2 report exhibit an opinion on not just the plan and execution of internal authorities, however, also the potential of controls – e.g., control impotence directs an existing (well organized and executed) control that doesn’t gain its control goals; i.e., it is not working and gaining its aims as an organization has evaluated it to do.

Conclusion

To search out more for ISAE 3000 3402 Audit and SOC 2 Report, get in touch with our professional accountants. We will help you plan your needs, give you solid insights that will assist your company to assess the authority in your organization.