What is SOC 1?
A Service Organization Control 1 or SOC 1 report is documentation of the internal controls that are likely to be relevant to an audit of a customer's financial statements.
There are two types of reports for these engagements:
- Type 1 – report on the fairness of the presentation of management’s description of the service organization’s system and the suitability of the design of the controls to achieve the related control objectives included in the description as of a specified date.
- Type 2 - report on the fairness of the presentation of management’s description of the service organization’s system and the suitability of the design and operating effectiveness of the controls to achieve the related control objectives included in the description throughout a specified period.
Use of these reports is restricted to, your company, your customers, and your auditors. If you’d like a report you can share publicly, you may want a SOC 3.
Additional resources you might like:
Coffee and Compliance: Building Trust to Drive Business Growth
Join our live webinar on May 23 at 12 PM where VP of Product Chase Lee, and Staff Product Manager Sanjay Padval as they demonstrate a brief overview and provide guidance on advancing your security program beyond building or improving. Learn how to enhance customer satisfaction and gain a competitive advantage, accelerating your business growth.
Café et compliance : les clés pour booster sa croissance en tant que startup
Pour vendre à des entreprises, les startups doivent garantir la protection des données de leurs clients en prouvant qu’elles ont mis en place les bonnes pratiques de sécurité. Pour cela, elles peuvent obtenir une certification comme la norme ISO 27001. Ce webinar explique les différents contrôles de sécurité à effectuer, les avantages de la certification et comment automatiser jusqu'à 90% du processus avec Vanta. Sébastien, CTO et co-fondateur de Leeway reviendra sur son expérience avec Vanta, et les participants pourront échanger avec notre responsable commerciale en France et notre expert en certification.
Introducing Vanta Workspaces
We’re thrilled to announce Vanta Workspaces, a new capability in our platform that enables complex organizations with multiple business units to easily customize, manage, and automate compliance at both the business unit and parent organization level in a single Vanta account.
