Service Organizational Control (SOC) – In the modern world, it has become common practice for organizations to outsource certain functions for business processes to third parties, rather than performing all processes “in house.” When an organization decides to outsource a core business process to a third party, the risk of the service organization often times becomes the risk of the user entity. Therefore, now more than ever, it is important to understand the different forms of Service Organizational Control reports and the types of risk that are addressed by each one. If you want to learn more here are a few links to several free white papers that discuss SOC reporting in more detail:
The significance of a (SOC)KET “Illuminating the Controls at your service Organization
The Ingredients in a SOC Report and the Nutritional Value of your Service Organization
How to find you matching “SOC” in a basket of wrinkled guidance