Reliance on outsourcing to increase profitability and gain efficiencies continues to grow, but so, too, does the trust gap as you share critical data with third parties. More and more customers, business partners and regulators expect to see details about your practices for safeguarding data.
Attestation reporting — including, but not limited to, System and Organization Controls (SOC) reporting — helps build trust with a range of stakeholders. The right types of reporting can demonstrate that appropriate controls are in place — for both your business processes and information technology (IT) — to protect financial and sensitive client data.
Many traditional industries, such as IT infrastructure, payroll processors and loan servicers within financial services, have relied on SOC 1 reports for years to demonstrate they have proper controls in place. Increasingly, a wider set of industries like FinTech and tech-enabled logistics companies are also relying on SOC reporting processes. These processes offer a cohesive, repeatable approach so you can assess once and then report out to many stakeholders.
SOC and other attestation reporting can help:
Drive trust and transparency with internal and external stakeholders.
Increase efficiencies while reducing compliance costs and time spent on audits and vendor questionnaires.
Meet contractual obligations and market concerns through flexible, customized reporting.
Address risks across the organization proactively.
Our Digital Assurance and Transparency professionals can bring experience and insight to your reporting process. With our skilled, independent auditors guiding you through the complexities of SOC and other attestation reporting, you can obtain:
A SOC readiness assessment aligned with the relevant attestation framework, including gap identification and improvement recommendations before a SOC examination.
A SOC report you can share with customers and other auditors to provide transparency into your control environment.
A customized SOC report (SOC 2+) that meets specific industry or customer requirements, such as NIST, HITRUST or GDPR.
Additional attestation reporting solutions tailored to your specific needs (see below).
Our professionals can help you determine the right reporting option and scope for your needs. To start, you may choose to focus on specific controls that matter most to customers. As your needs evolve, you can expand your reporting scope to cover a broader range of controls.
SOC reporting options include:
Some circumstances may require an independent, qualified third party to attest to your company’s operational standards or system controls. You or your stakeholders may need independent assurance that their data, collateral or other entrusted assets are protected. PwC provides customized attestation reporting solutions tailored to your specific needs, including:
Increasing demands for transparency into internal controls can create a significant burden, requiring multiple reports and certifications that demand careful coordination and oversight. Our integrated SECO program can help reduce reporting costs, reduce disruption to revenue-generating teams and strengthen stakeholder trust.
SECO helps you:
Contact our DAT professionals to explore PwC’s SECO solutions.
Assurance for AI is a first-to-market set of services and solutions by PwC to provide independent assurance and other related services over AI systems. This profession leading service will empower businesses with trust and confidence in the Age of Intelligent Automation.
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PwC can help you manage third-party external controls reporting challenges and extract more value from your SOC program.
