SOC 1 Type 1
Evaluates the design and implementation of controls relevant to financial reporting at a single point in time
What is it?
SOC 1 Type 1 reports evaluate the design and implementation of controls relevant to financial reporting at a single point in time. This is often used as a first-time attestation for clients, partners, and regulators.
Organizations must effectively demonstrate to stakeholders, including clients and partners, that their internal controls are both effective and reliable for accurate financial reporting. The SOC 1 Type 1 report acts as a crucial document that bolsters trust and credibility with clients and regulatory authorities.
Our Process
1
Audit Scope & Objective Definition
We help define what systems, controls, and reporting functions will be covered in your SOC 1 Type 1 audit.
3
Documentation Preparation
We create or enhance audit documents such as control narratives, system descriptions, and risk statements.
5
Fieldwork Support
During the auditor’s fieldwork, we remain available to provide clarifications, walkthroughs, and additional support as needed.
2
Readiness Evaluation
We assess whether your controls are adequately designed and implemented, supporting you in closing any last-minute gaps.
4
Auditor Coordination
NDB serves as a liaison between your team and the auditor, ensuring evidence is timely, accurate, and clearly presented.
6
Post-Audit Support
We help interpret auditor feedback and prepare for ongoing monitoring or future Type 2 reporting.
Your Deliverables
Upon completion of the SOC 1 Type 1 audit process, you will receive a comprehensive set of deliverables designed to support your compliance efforts:
SOC 1 Type 1 Report (Issued by CPA)
System Description & Control Narrative Package
Management
Assertion Draft
Audit Request
Response Tracker
Auditor Interaction Summary
Why Choose NDB?
Choosing NDB for your SOC 1 Type 1 assessment means leveraging our extensive network of independent auditors & our in-depth understanding of the SOC 1 framework. Our expertise facilitates a streamlined audit process, ensuring a thorough & accurate evaluation of your controls.
We are dedicated to making the audit experience as efficient as possible while providing comprehensive support and guidance throughout. With NDB as your partner, you can be confident in achieving a successful SOC 1 Type 1 report, ultimately enhancing your organization’s credibility and trustworthiness in the eyes of your clients and stakeholders. Our focus on continuous improvement ensures that your organization remains well-positioned for future compliance efforts.
Key Highlights about NDB:
Expert Team: Certified professionals with extensive experience in compliance and cybersecurity.
Comprehensive Services: Offering a wide range of services, including SOC 1, SOC 2, PCI DSS, ISO 27001, HIPAA, GDPR, CCPA, and more.
Tailored Solutions: Customizing our services to meet the specific needs of various industries and organizational sizes.
Commitment to Excellence: Focused on delivering high-quality services that empower clients to thrive in a complex regulatory environment.
Client-Centric Approach: Prioritizing collaboration and communication to build strong partnerships with our clients.
Canada’s Leading Provider for All Things Compliance
Fixed-fee services for SOC 1/SOC 2, PCI DSS, ISO 27001, HIPAA, HITRUST, GDPR, Pen Testing, Data Privacy, and so much more.