Why are SOC Audits Completed by a CPA Firm?

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There are a lot of tools out there claiming to save your organization money on your next SOC report, but did you know that your SOC report must be signed off on by a CPA? If your SOC vendor isn’t a CPA firm, they may not be able to guarantee or reduce the cost of a SOC report like some might claim.

Any information, controls, evidence, processes, or policies aggregated by a software tool would still need to be reviewed and confirmed by your auditor. As the CPA firm that would have to sign off on the report, we would still need to complete the reporting process with you to ensure that all appropriate requirements are met. This could require additional time, money, and headaches that could have been avoided in the first place. 

  • As the service organization being examined, you would still need to take responsibility for any subject matter audited, even if it was generated by your software.
  • Your organization would need to ensure independence from any automated compliance software or tools.
  • Don’t set it and forget it – you will need to ensure understanding of your compliance software’s functionality.
  • The design of your controls will need to be fully reviewed in order to ensure that any information generated by your compliance tool is accurate and complete. We can’t take your word for it!
  • Management will need to be able to operate controls during your audit period. 
  • Your service organization will still need to perform the responsibilities outlined by the AICPA Code of Professional Standards.

At the end of the day, it’s best to start your compliance journey with a qualified CPA reporting firm like Auditwerx, in order to ensure a successful audit is completed the first time. 

If you’re ready to learn more or are looking to start your SOC compliance journey, contact us today.

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