Businesses are increasingly dependent on third parties to provide critical services, especially services related to information technology (IT). Third-party services can help businesses remain competitive globally, grow in the market, or reduce costs while increasing quality.
However, increased usage of a complex network of third-party suppliers also increases IT corporate governance concerns, such as cyber and security threats, data quality issues, privacy legislation and regulatory requirements. Each company – whether regulated or not – is ultimately responsible for managing and monitoring the risk related to third-party relationships.
One of the most effective ways that organizations can communicate about their risk management and internal control environment is through Service Organization Controls (SOC) reporting.
We can assist you in selecting the most relevant solution for your SOC reports and pave the road for successful risk management. To learn more about how Deloitte’s Third-Party Assurance services can help your organization, contact us.
Opens in new window