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When you begin thinking about pursuing SOC 1 compliance, you’ll have the option of choosing a Type I or Type II audit. While both of these audits assess a service organization’s controls and processes that may impact their clients’ internal control over financial reporting (ICFR), the biggest difference between the two types of audits is the audit period. For example, if you decide to undergo a SOC 1 Type I audit, an auditor will assess your controls and processes and their impact over user entities’ ICFR for a specific moment in time. On the other hand, if your organization pursues SOC 1 Type II compliance, an auditor will assess your controls and processes and their impact over user entities’ ICFR over a minimum of six-month period.
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KirkpatrickPrice is a licensed CPA firm, PCI QSA, and a HITRUST CSF Assessor, registered with the PCAOB, providing assurance services to clients in more than 48 states, Canada, Asia, and Europe. The firm has over 13 years of experience in information security and compliance assurance by performing assessments, audits, and tests that strengthen information security and internal controls. KirkpatrickPrice most commonly provides advice on SOC 1, SOC 2, PCI DSS, HIPAA, HITRUST CSF, GDPR, ISO 27001, FISMA, and CFPB frameworks.
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