Managed IT
Instill Maximum Client Confidence
Managed IT SOC Audit
Often, your clients will let you know which assessment they want your MSP to undergo. They might request a specific examination, such as SOC 1 or SOC 2, or they may be a little vaguer in their direction and ask for a third-party security audit to be completed by a CPA firm. One thing certain is more clients are requesting their MSPs to invest in a Managed IT SOC Audit.
If they’re less certain on which compliance assessment to complete, our SOC experts can review your MSP and its business practices to help determine the appropriate audit to undergo. Depending on the nature of your MSP, you might benefit from undergoing completing multiple compliance assessments concurrently in lieu of the overlap in process and requirements.
A SOC 1 audit is the ideal audit for MSPs that handle, process, store or transmit financial information. These industries may include:
- Payroll Processors
- Collections Organizations
- Data Centers
- SaaS MSPs
A SOC 2 report highlights the controls in place that protect and secure an organization’s system or services used by its customers. Unlike a SOC 1, the scope of a SOC 2 Examination extends beyond the systems that have a financial impact, reaching all systems and tools used in support of the organization’s system or services. This assurance in the security of the environment can be provided thanks to the requirements within a SOC 2 Examination, known as the Trust Services Criteria (TSC).
MSPs that could benefit the most from SOC 2 Examinations include:
- Any Service Organization
- Data Centers
- SaaS MSPs
What Are Some Potential Risks and Consequences of Not Getting a Proper Managed IT SOC Audit?
- Damage to reputation if a data breach occurs
- Loss of current clients if network has been compromised
- Loss of future sales due to not being certified
- Competitive edge to other vendors
- Potential lawsuits or fines due to cyber attacks
- Costs to investigate and notify impacted clients of a breach
