What type of SOC report is intended to meet the needs of entities that use service organizations and their auditors, who are responsible for understanding internal controls over financial reporting at service organizations?
A) SOC 1 report
B) SOC 2 report
C) SOC 3 report
D) none of the above

Question

Quizplus · Accepted Answer

SOC 1 reports are specifically intended to meet the needs of entities and their auditors who need to understand the internal controls over financial reporting at a service organization. This report is focused on controls that impact the financial statements of the user entities. SOC 2 and SOC 3 reports cover more general controls, including those related to security, availability, processing integrity, confidentiality, and privacy.

What Type of SOC Report Is Intended to Meet the Needs