A Service Organization Control 1 or Soc 1 (pronounced "sock one") report is written documentation of the internal controls that are likely to be relevant to an audit of a customer’s financial statements.
By submitting your email address, you agree to receive emails regarding relevant topic offers from TechTarget and its partners. You can withdraw your consent at any time. Contact TechTarget at 275 Grove Street, Newton, MA.
Soc 1 is divided into Type 1 and Type 2 reports. A Type 1 reports on a service organization’s suitability of design of controls on a specific date, while a Type 2 reports on the effectiveness of the control design over a period of time. Soc 1 reports are performed by a service auditor. Soc 1 reports cover the requirements of SSAE 16.