SYSTEM AND ORGANIZATION CONTROLS
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SYSTEM AND ORGANIZATION CONTROLS

“Crunching Numbers” for me is only one of the many things I appreciate about HLB Gross Collins. Over the many years of working with Pauline, who I consider my accountant and friend, I have developed a relationship which reflects trust and loyalty. I know she has my best interest as a basis for all her advice. Caring may be the key word. She is always available to guide my decisions in a supportive and professional manner. I consider myself fortunate to be a client.

Sara Thomas

SOC (System and Organization Controls) Engagements 

leader-sideHLB Gross Collins, P.C. has the knowledge, industry expertise and resources needed to help you with your SOC engagement.  We are able to provide a quality review in an efficient and cost-effective measure based on:

  • Our knowledge of what operational areas require review.
  • Our ability to evaluate the appropriate control objectives and identify any design deficiencies or control weaknesses.
  • Our thorough understanding and compliance with AICPA authoritative guidance governing these types of reports.

 

What are SOC engagements?
​Many companies function more efficiently and profitably by outsourcing tasks or entire functions to service organizations that have the personnel, expertise, equipment, or technology to accomplish these tasks or functions. Examples of such services include cloud computing, managed security, health care claims management and processing, sales force automation, etc. Although user management can delegate these tasks or functions to a service organization, they are usually held responsible by those charged with governance (for example, the board of directors), customers, shareholders, regulators and other affected parties for establishing effective controls over those outsourced functions. The following SOC reports provide management of user organization’s with the information they need about the service organization's controls to help assess and address the risks associated with an outsourced service.

Why is a SOC engagement needed?
A SOC engagement  is valuable in that it is a statement indicating that the service organization has had its control objectives and activities evaluated by an independent firm such as HLB Gross Collins, P.C.  The report provides significant value both to the service organization and to those who utilize their services. It is a statement that establishes effectiveness and integrity with the organization’s quality control measures and goes toward building trust among the organization and their clients.  Because the activity of these service providers entails financial or other sensitive information relevant to their customers, it is imperative that they demonstrate sufficient controls and safeguards where the housing of this information is concerned.

SOC engagements are gaining prominence as entities continue to outsource core business processes to third party service providers and as regulations increase their focus on internal controls.  SOC engagements enable auditors to report on internal controls of a service organization.  The engagements cover subject matters related to financial reporting as well as non-financial reporting.  Depending on the needs of the user entity, three different types of SOC reports can be provided:  

For additional information or if you have questions about your firm’s SOC needs, please contact our Director of Consulting Services, Jeff Plank.

“Crunching Numbers” for me is only one of the many things I appreciate about HLB Gross Collins. Over the many years of working with Pauline, who I consider my accountant and friend, I have developed a relationship which reflects trust and loyalty. I know she has my best interest as a basis for all her advice. Caring may be the key word. She is always available to guide my decisions in a supportive and professional manner. I consider myself fortunate to be a client.

Sara Thomas

I have used HLB Gross Collins for personal taxes and partnership returns for over 10 years. I have found the firm and my primary contact, Abigail Hampton to be competent and responsive even when I have been late providing information. I have no reservations in recommending Gross Collins and Abigail to anyone needing a CPA.

Steve Zeis CEO & Founder

Zeis Brothers Investment

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