Ireland

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  • Service: Advisory, Risk Consulting, Engineering & Construction Group, Forensic, Internal Audit Services, Regulatory Services, Financial Operations Services, Financial Modelling Services, IT Assurance Services, Financial Risk Management, Actuarial
  • Type: Business and industry issue, KPMG information
  • Date: 01/03/2013

Effectively using SOC1, SOC2 and SOC3 Reports 

Organisations are increasingly outsourcing systems, business processes, and data processing to service providers in an effort to focus on core competencies, reduce costs, and more quickly deploy new application functionality. As a result, organisations are updating their processes for monitoring their outsourced vendor relationships and managing the risks associated with outsourcing.

 

This paper provides user organisations (customers) and service providers an overview of SOC2/SOC3 and guidance for the application of SOC2/SOC3 reporting. In addition, it provides a contrast between the scopes of SOC2/SOC3 and SOC1 reports.

Effectively using SOC1, SOC2 and SOC3 Reports
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Risk Consulting contact

michael daughton, fatca partner

Michael Daughton

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Partner 

michael.daughton@kpmg.ie
+353 1 410 2965

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Patrick Farrell

Patrick Farrell

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Partner

patrick.farrell@kpmg.ie

+353 1 700 4029

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Risk Consulting

Risk management is not the responsibility of a single department — it is the responsibility of everyone, from the chief executive down. Past corporate failings have been attributed to lack of accountability, strategy and transparency.