SOC 1 Audit Services
If your organisation provides services that affect your clients' financial reporting, a SOC 1 report isn't just helpful, it's what your clients' auditors will ask for. soc-audit.com makes the process clear, structured, and stress-free.
- SSAE 18-compliant SOC 1 audits for service organisations of all sizes
- Covers both Type I and Type II, we'll help you choose the right fit
- Experienced auditors who understand financial controls and service-organisation risk
- Fixed timelines, clear deliverables, and a report your clients' auditors can rely on
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What is a SOC 1 Audit?
A SOC 1 audit is an independent assessment of the internal controls at a service organisation that affect their clients' financial reporting (ICFR), conducted under the AICPA's SSAE 18 standard.
When your organisation handles services that touch clients' financial data (payroll processing, loan portfolios, claims handling, data centre operations, and others) your controls become part of their financial reporting environment. A SOC 1 report provides their auditors with a formal, third-party-validated document confirming your controls are working as intended.
Without one, clients' auditors may want to test your environment themselves, which is costly and time-consuming for both parties. A clean SOC 1 report eliminates that burden and positions your organisation as a trusted, audit-ready provider.
SOC 1 Type I or Type II — Which One Do You Need?
Both report types are issued under the SSAE 18 standard, but they serve different purposes and are suited to different stages of your compliance journey. Use the toggle below to explore each option.
SOC 1 Type I
Type I is a practical starting point for organisations that are new to SOC 1 audits, need to demonstrate readiness to a client or prospect, or want to establish a clean baseline before committing to the ongoing observation period required for Type II.
- Faster to complete, typically 4 to 8 weeks from start to report
- Confirms your controls are well-designed and appropriately documented
- Useful for responding to client security questionnaires and RFPs
- A strong foundation for your first Type II engagement
- Best for: First-time SOC 1 engagements, urgent client requests, or building towards Type II.
SOC 1 Audit Pricing
Every SOC 2 engagement is scoped based on the size of your organisation, the number of Trust Services Criteria included, your audit type (Type I or Type II), and your current level of readiness. We offer transparent, fixed-scope pricing so there are no surprises.
Small Businesses
$2,000
- Up to 50 employees
- Up to 3 products/applications
Growing Businesses
$5,000
- Up to 200 employees
- Up to 6 products/applications
Large Businesses
Let's Talk
For complex or larger scale engagements, contact us for a tailored quote.
SOC 1 Type II
Type II is the standard for mature service organisations that are embedded in their clients' annual financial audit cycle. Once you have a Type II report, it typically needs to be renewed annually to maintain its value to your clients and their auditors.
- Covers a 6 to 12 month observation period
- Tests both control design AND consistent operating effectiveness
- The preferred format for user auditors relying on your controls
- Renewed annually, demonstrates ongoing, sustained compliance
- Best for: Established organisations embedded in client audit cycles, including payroll and financial data processors.
SOC 1 Audit Pricing
SOC 1 engagement fees vary based on the number and complexity of your control objectives, the scope of services covered, the number of locations included, and whether you're pursuing Type I or Type II. We price our engagements transparently and on a fixed-scope basis.
Small Businesses
$4,000
- Up to 50 employees
- Up to 3 products/applications
Growing Businesses
$6,000
- Up to 200 employees
- Up to 6 products/applications
Large Businesses
Let's Talk
For complex or larger scale engagements, contact us for a tailored quote.
Comparison
Feature
Type I
Type II
Assessment scope
Point-in-time (single date)
Period-based (6–12 months)
What's evaluated
Design of controls over financial reporting
Design + operating effectiveness over time
Best for
First SOC 1 engagement or a quick client deadline
Established service orgs with mature processes
Time to complete
4–8 weeks
3–6 months (after observation period)
Client demand
Good starting point for new relationships
Required for most ongoing financial audit reliance
Report validity
Valid at a specific point in time
Covers the full observation period
Benefits of a SOC 1 Report
A SOC 1 report does more than satisfy an audit requirement, it strengthens client relationships, reduces friction in your sales and renewal cycles, and demonstrates that your organisation operates with the rigour that financial service environments demand.
Satisfy Your Clients' Audit Requirements
Your clients' external auditors need to understand and place reliance on your controls. A SOC 1 report gives them exactly what they need, reducing the risk of direct audit visits to your site and eliminating ad hoc information requests during your clients' audit season.
Remove a Major Sales Barrier
Many enterprise clients and financial institutions will not onboard a new service provider without a current SOC 1 report in hand. Having one ready shortens your sales cycle and signals to prospects that you operate at an institutional standard.
Demonstrate Control Maturity
Going through a SOC 1 audit forces a rigorous examination of your internal processes and controls. Organisations consistently find that the audit process improves their operational quality, not just their compliance posture.
Reduce Client Audit Burden
Without a SOC 1 report, your clients' auditors may conduct their own on-site reviews of your environment. A clean Type II report eliminates that need and makes you easier and more cost-effective to work with.
Build Long-Term Client Confidence
Annual SOC 1 renewals demonstrate a sustained commitment to control quality. Over time, this track record becomes a powerful differentiator, particularly in competitive financial services and outsourcing markets.
Support Regulatory Compliance
For organisations operating in regulated financial environments, payroll processing, fund administration, claims management, a SOC 1 report often directly supports your clients' own regulatory obligations and audit submissions.
SOC 1 Readiness Checklist
Before your formal SOC 1 audit begins, your organisation needs to have the right controls, documentation, and processes in place. Here's what most service organisations need to address. Our readiness assessment will map your current state against each of these areas and tell you exactly what's ready and what still needs work.
Control Objectives & Scope
- Control objectives clearly defined and mapped to the services provided
- Scope of the audit agreed, services, systems, and locations covered
- System description drafted covering infrastructure, software, people, procedures, and data
- Complementary user entity controls (CUECs) identified and documented
Policies & Documentation
- Relevant policies documented, approved, and communicated to staff
- Change management policy and procedures in place and followed
- Incident management and escalation process defined
- Vendor and third-party management process established
- Data retention and disposal policy in place
Access & Logical Controls
- User access provisioning and deprovisioning process documented and operating
- Privileged access restricted and reviewed regularly
- Access review process conducted at defined intervals (minimum quarterly)
- Segregation of duties enforced in financial processing workflows
Operational Controls
- Job scheduling and processing monitoring controls operating
- Exception reporting and resolution process in place
- Backup and recovery processes tested and documented
- Physical and environmental security controls in place for relevant facilities
Evidence & Audit Readiness
- Control evidence (logs, tickets, approvals) retained for the review period
- Key personnel identified and available to support audit fieldwork
- Prior year report available for reference (if applicable)
Not sure how ready you are? Let us assess your current state.
Who Needs a SOC 1 Audit?
A SOC 1 audit is relevant to any service organisation whose operations can affect the financial reporting of its clients. If your services touch how your clients record, process, or report financial transactions, directly or indirectly, you likely need one.
Here are the most common types of organisations that require or benefit from a SOC 1 report:
Payroll & HR Service Providers
Payroll processors, PEOs, and HR outsourcing firms handle employee compensation data that flows directly into their clients' financial statements. A SOC 1 report is almost universally required in this space.
Loan Servicing & Mortgage Processors
Organisations that service loans, collect payments, or manage escrow accounts on behalf of financial institutions need to demonstrate that their processing controls are reliable and auditable.
Fund Administrators & Transfer Agents
Fund admins, transfer agents, and custodians sit at the heart of asset managers' and investment funds' financial reporting. Their clients' auditors routinely require a SOC 1 Type II report.
Claims Processing Organisations
Insurance claims processors, third-party administrators (TPAs), and managed care organisations handle financial transactions and reserve data that directly affect their clients' reported liabilities.
Data Centres & Managed IT Providers
Data centres and MSPs that host, manage, or process systems supporting financial reporting, general ledgers, ERP platforms, financial databases, are frequently asked for SOC 1 reports by their financial services clients.
Benefits Administration & Retirement Services
Organisations managing pension plans, 401(k) administration, and employee benefit programmes process financial data with direct accounting implications for their plan sponsor clients.
SOC 1 Audit Pricing
SOC 1 engagement fees vary based on the number and complexity of your control objectives, the scope of services covered, the number of locations included, and whether you're pursuing Type I or Type II. We price our engagements transparently and on a fixed-scope basis.
SOC 1 Type I
Type I is a practical starting point for organisations that are new to SOC 1 audits, need to demonstrate readiness to a client or prospect, or want to establish a clean baseline before committing to the ongoing observation period required for Type II.
- Faster to complete — typically 4 to 8 weeks from start to report
- Confirms your controls are well-designed and appropriately documented
- Useful for responding to client security questionnaires and RFPs
- A strong foundation for your first Type II engagement
Make this the 5th bullet point. And change the text to – Best for: First-time SOC 1 engagements, urgent client requests, or building towards Type II.
SOC 1 Audit Pricing
Every SOC 2 engagement is scoped based on the size of your organisation, the number of Trust Services Criteria included, your audit type (Type I or Type II), and your current level of readiness. We offer transparent, fixed-scope pricing so there are no surprises.
Small Businesses
$2,000
- Up to 50 employees
- Up to 3 products/applications
Growing Businesses
$5,000
- Up to 200 employees
- Up to 6 products/applications
Large Businesses
Let's Talk
For complex or larger scale engagements, contact us for a tailored quote.
SOC 1 Type II
Type II is the standard for mature service organisations that are embedded in their clients' annual financial audit cycle. Once you have a Type II report, it typically needs to be renewed annually to maintain its value to your clients and their auditors.
- Covers a 6 to 12 month observation period
- Tests both control design AND consistent operating effectiveness
- The preferred format for user auditors relying on your controls
- Renewed annually — demonstrates ongoing, sustained compliance
Make this the 5th bullet point and change the text to – Best for: Established organisations embedded in client audit cycles, including payroll and financial data processors.
SOC 1 Audit Pricing
SOC 1 engagement fees vary based on the number and complexity of your control objectives, the scope of services covered, the number of locations included, and whether you're pursuing Type I or Type II. We price our engagements transparently and on a fixed-scope basis.
Small Businesses
$4,000
- Up to 50 employees
- Up to 3 products/applications
Growing Businesses
$6,000
- Up to 200 employees
- Up to 6 products/applications
Large Businesses
Let's Talk
For complex or larger scale engagements, contact us for a tailored quote.
How soc-audit.com Guides You Through SOC 1
A SOC 1 audit is more than a documentation exercise, it requires a thorough understanding of your services, your clients' financial reporting environment, and how your controls interact with both. Our team brings that understanding to every engagement, so nothing falls through the cracks. Here's what working with soc-audit.com looks like from start to finish:
All engagements include a dedicated audit lead, evidence collection support, system description assistance, and a final report suitable for sharing with your clients and their auditors. Bundle your SOC 1 with a SOC 2 or ISO 27001 engagement for greater efficiency.
STEP01
Consultation & Scoping
Consultation & Scope We start with a no-obligation conversation to understand your services, clients, and SOC 1 drivers. We'll help define your scope, identify the right control objectives, and confirm whether Type I or Type II fits.
STEP02
Readiness Assessment
We conduct a gap assessment against SSAE 18 requirements, reviewing your control documentation, system descriptions, and processes. You'll receive a clear, prioritised remediation roadmap before any formal audit begins.
STEP03
Control Objectives
Control Objectives We work with your team to draft the system description and control objectives that underpin your SOC 1 report. Getting this right is critical, a well-scoped description makes the audit smoother and report more credible.
STEP04
Remediation Support
Where gaps exist, we provide practical, hands-on support to help you close them, whether that's policy writing, process redesign, evidence collection guidance, or control implementation advice.
STEP05
Formal Audit & Testing
Our certified auditors conduct fieldwork , interviewing key personnel, reviewing documentation, and testing controls against the stated objectives. We manage the process efficiently to minimise disruption to your team.
STEP06
Report & Client Support
We issue a clear, professionally formatted SOC 1 report under SSAE 18. We walk you through the findings, help you prepare for questions from user auditors, and set you up for a smooth annual renewal cycle.
All engagements include a dedicated audit lead, evidence collection support, system description assistance, and a final report suitable for sharing with your clients and their auditors. Bundle your SOC 1 with a SOC 2 or ISO 27001 engagement for greater efficiency.
Frequently Asked Questions
Everything you need to know about SOC 1.
SOC 1 is focused specifically on controls that are relevant to your clients' financial reporting. It's the right framework if your services touch how your clients process, record, or report financial data. SOC 2, by contrast, is focused on data security, availability, and privacy controls. It's the standard for technology and SaaS companies. Many organisations ultimately need both, and we can run them in parallel to maximise efficiency.
SSAE 18 is the current attestation standard issued by the AICPA under which SOC 1 audits are performed. It superseded SSAE 16 and SAS 70, which you may have heard of in older audit contexts. If a client asks for an 'SSAE 18 report', they are asking for a SOC 1 report.
SAS 70 was the predecessor standard to SOC 1. It was retired in 2011 when the AICPA introduced the SOC reporting suite. If your clients are asking for an 'SAS 70', what they actually need, and what you should be providing, is an SSAE 18 SOC 1 report. We can help you make that transition smoothly.
A Type I audit typically takes 4 to 8 weeks from the start of fieldwork. A Type II audit requires a minimum 6-month observation period before fieldwork can begin, so the total timeline from starting the programme to receiving your report is typically 9 to 14 months. Our readiness assessment phase runs before the clock starts on the observation period, keeping total elapsed time as short as possible.
CUECs are controls that your clients, the user entities, need to have in place on their end for your controls to operate effectively. For example, if you rely on your clients to provide accurate input data, that reliance would be documented as a CUEC. We help you identify and clearly document CUECs as part of the system description process, so your clients and their auditors know exactly what's expected of them.
Yes, scoping decisions are made collaboratively at the start of the engagement. We help you define a scope that is meaningful to your clients and their auditors, while keeping the audit manageable and proportionate to your size and risk profile. Over-scoping is one of the most common mistakes first-time SOC 1 clients make, and we actively help you avoid it.
ISO 27001 and SOC 1 serve different purposes. ISO 27001 is an information security management standard, it covers how you manage security risk broadly. SOC 1 is specifically about controls over financial reporting processes. If your clients are financial institutions or their auditors are asking for a SOC 1, an ISO 27001 certificate will not satisfy that requirement. You would need both.
SOC 1 Type II reports are typically renewed annually. Most clients and user auditors expect a current report, usually one covering the most recent 12-month period. We offer annual renewal support to make the process straightforward and efficient year over year.
From first-time engagements to annual renewals, soc-audit.com provides consistent, expert support at every stage of your SOC 1 journey. We understand the pressures service organisations face during audit season, and we're built to help you meet them.
