Outsource service providers are increasingly managing “non-core” business and IT processes for clients, which could entails gaining unprecedented access to data and connectivity to critical systems. To establish trust and win in the marketplace, service providers must demonstrate strong governance and internal controls over the services they provide. Organisations face increasing demands from their end customers and regulators, and these demands are passed onto the service provider. The service provider needs to be able to provide assurance – often through a service auditor report that best suits the needs of its stakeholders.
The service provider needs to be able to provide assurance – often through a service auditor report that best suits the needs of its stakeholders. Service auditor reports include Service Organisation Control (SOC) reports (SOC 1, SOC 2, and SOC 3) as well as other assurance reports.
This can be used by management to assess their internal control environment – but more importantly, they can be used by clients, regulators, and depending on the type of report, the public at large to gain assurance over key risks such as information security, availability of systems, integrity of data processing, confidentiality and privacy.
Please contact us for more information on the best way to provide assurance to your clients and other stakeholders