NDNB provides annual SOC 1 SSAE 18 Type 1– and Type 2 – reporting for Washington DC, Maryland, and Northern Virginia businesses. If you’re a service organization in the greater WDC area and are providing critical outsourcing services to other entities, then SOC 1 SSAE 18 – or SOC 2 compliance – may come knocking. As the region’s leading provider of regulatory compliance services, NDNB offers competitively priced fixed-fees, high-quality audit services, along with numerous supporting tools.
Comprehensive Audit Solutions – SOC 1, SOC 2 and more – Fixed Fee Pricing
As for beginning your march toward SOC 1 SSAE 18 Type 1 – or Type 2 – compliance, NDNB offers the following helpful subject matter for Washington DC, Maryland, and Northern Virginia businesses: Assess and Confirm Audit Scope: The duration, complexity, and overall cost of the audit is directly related to the overall scope. Specifically, are you assessing your entire business functions, or just a specific business unit or process? This needs to be determined early on. Remember to speak with clients and prospects, as they are ultimately driving compliance mandates, and therefore will have excellent insight as to the scope of your report.
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Do you have ICFR Considerations? What’s ICFR – a question we’re often asked – it stands for Internal Controls over Financial Reporting and here’s how it works. If you’re a service organization providing services to your clients – for which such services can impact their financial reporting each year – then the controls around such services, which are ICFR driven – should be assessed during the SOC 1 SSAE 18 audit.
Be Prepared for Remediation: More specifically, be prepared for correcting all the deficiencies and gaps found during the SOC 1 SSAE 18 readiness assessment, which can range from missing documents to changing of various processes, and more. While businesses are generally good at their core competencies – after all, that’s why they are in business – documenting one’s daily operations is never high on the list. This often results in notable gaps with policies and other material.
Additionally, operational remediation is also quite common, such as making changes to various procedures for enhancing internal controls – an additional sign-on function to a particular I.T. system, another review process for reconciliation, perhaps even enhancing system configuration files – these are just a few examples.
Documentation is Key to the Audit: Not only must you provide a plethora of documents to auditors during the assessment period – you’ll need to make sure your documentation is current and up-to-date for today’s stringent SSAE 18 SOC 1 guidelines – and that’s where NDNB can help. It’s just one of the many reasons why Washington DC, Maryland, and Northern Virginia businesses work with NDNB, and so should you.
DC’s Leading Provider of High-Quality, Fixed-Fee Audit Services
Are you in need of proven regulatory compliance expertise from trusted professionals with years of experience? Not too sure on where to begin the SOC 1 SSAE 18 audit process, how long it takes, what pitfalls and challenges that lie ahead? Simply contact us today and we’ll begin the process of educating you on important items needed for ensuring a successful and efficient audit process from day one.