NDB is Texas’ leading provider of high-quality, fixed-fee SSAE 18 SOC 1 Type 2 assessments. With a heavy footprint and a well-recognized name in the Lone Star State, NDB has been offering regulatory compliance assessments for years to Texas businesses.
Proven Services and Fixed Fees for Texas Businesses
SSAE 18 SOC 1 compliance for Texas service organizations “should” be a relatively smooth, efficient, and straightforward process provided you have a strong understanding of important compliance issues. The key for a successful audit is educating your business on important audit topics and relevant subject matter. The more you know about SSAE 18 SOC 1 audits and how the overall assessment process works, the greater your chances of completing the audit on time and within budget. Here’s what Texas service organizations need to know regarding SSAE 18 SOC 1 audits:
AICPA SOC Framework: The AICPA Service Organization Control (SOC) framework consists of SSAE 18 SOC 1, SOC 2, and SOC 3 reporting, each being different in their own right, but also sharing fundamental similarities when it comes to basic auditing principles. While SOC 1 is financially driven with the ICFR component – as explained below – SOC 2 is for technology companies, such as SaaS, managed services, data centers, and more.
Emphasis on ICFR: ICFR stands for “Internal Controls over Financial Reporting”, thus if you’re a business offering services that can impact a client’s financial reporting, the SSAE 18 SOC 1 assessment is the preferred choice. Think Third Party Administrators, Trust departments, and actuaries – all ideal candidates for SOC 1 reporting. If you’re curious about SOC 2 compliance, these assessments are conducted on technology companies, such as managed services providers, Internet Service Providers (ISP), cloud vendors, and more. There are differences between SOC 1 vs. SOC 2, which you need to be aware about.
Remediating Control Deficiencies: Correcting control failures is a large part of becoming compliant with the SSAE 18 SOC 1 reporting standard – after all – if you’re hoping to obtain a clean, “unqualified” opinion, it all starts with remediating control deficiencies found during a readiness assessment. And a word on readiness assessments – they’re quick and easy-to-perform, are cost-effective, and tremendously helpful in providing much needed insight into a service organization’s control environment.
As for remediation, NDB offers complimentary policies and other essential tools for helping Texas service organizations in Dallas, Houston, Austin, and San Antonio during this critical phase of the assessment process.
Living with Compliance: SSAE 18 SOC 1 compliance is going to be an annual mandate for many Texas businesses – why – it’s just the natural evolution of today’s marketplace; a business climate that is seeking to put in place comprehensive measures in today’s world of outsourcing and growing cybersecurity threats. In short, your clients – and prospects – want a strong level of assurance regarding your internal controls, and SSAE 18 SOC 1 compliance – along with SOC 2 audits – are the de facto global assessments for validating such measures.
Talk to the Texas’ SOC 1 Experts Today at NDB
From fixed-fee pricing for SOC 1 audits, along with offering Texax service organizations a laundry list of helpful tools and resources for today’s growing compliance mandates, NDB should be high on your list as your provider. We’ve performed hundreds of compliance audits over the last decade, thus building an incredibly efficient and effective SOC 1 audit process, one that comes complete with competitive pricing and high-quality service.