Service organizations face unique challenges with client data processes and functions. The AICPA has developed reports to review internal controls for the services provided by a service organization. Although many organizations pursue SOC 2 engagements at the request of their clients, is there value a company can derive beyond just satisfying a client request? Are there efficiencies that can be gained by combining a SOC 2 report with other compliance requirements such as HIPAA? Baker Tilly will discuss SOC 2 reporting and what they have learned from working with clients in several industries. Information covered in this presentation will include:
– A historical perspective on SOC 2 reporting
– When a SOC 2 report is relevant for a service organization
– Important lessons from service organization control (SOC 2) reporting
– Potential value derived from a SOC 2 beyond the examination
– Opportunities to combine SOC 2 reporting with other compliance requirements.
- When a service organization should pursue a SOC 2 report.
- Additional benefits organizations can realize from SOC 2 examinations.
- Opportunities organizations can pursue to streamline compliance requirements.
About Daniel Steiner
Dan Steiner is a Manager in the Risk Services Group at Baker Tilly Virchow Krause, LLP.
He specializes in enterprise risk management, internal controls, risk transfer solutions,
crisis management, and business continuity. Prior to joining Baker Tilly in 2010, Dan
worked in both the Global Risk Management and Internal Audit departments for a Fortune
150 consumer goods company where he lead many enterprise wide projects. Dan began
his career at Baker Tilly where he served as an auditor and consultant.
About Tom Wojcinski
About Abhay Shah
Abhay Shah is a Senior Consultant with the Risk Advisory Service Group of Baker Tilly Virchow Krause, LLP and has been with the firm since 2011. He has six years of progressive experience in performing financial, compliance, information technology (IT) and operational audits across various industries. Prior to joining Baker Tilly, Abhay worked for global financial service company where he provided internal audit services to their mortgage and credit card business units.