Factocert is the leading SOC 1 Consultant in Canada for providing the SOC 1 Certification in Canada, Toronto, Montreal, Calgary, Ottawa and other major cities in Canada with the services of implementation, training, documentation, gap analysis, registration, Audit and templates services at affordable cost to all organizations to get certified under Service Organization Control management system in Canada. Service Organization Controls Report is a report on service Organization controls relevant to user entities internal control over financial reporting. SOC 1 Certification in Canada is what you would have previously considered the standard SSAE 16 OR SAS70. Service Organization Control 1 is divided into Type 1 and Type 2.

• Type 1 reports on a SOC 1 suitability of the design of controls on a specific date.
• Type 2 reports on the effectiveness of the control design over some time.

SOC 1, a service auditor, performs reports, and SOC 1s cover the requirements of SSAE 16.

Difference between SAS 70, SSAE 16 and ISAE 3042:

1. Management of the SOC will be required to provide the service auditor. When performing either a Type I or Type II engagement, the service auditor will then attest to the following:

• The fairness of the presentation of the description of the SOC 1
• SOC 1 Certification in Montreal the suitability of the design of the controls to achieve the related control objectives stated in the description and the operating effectiveness of those controls to achieve the related control objectives stated in the description.

1. SOC 1 Certification in Toronto during the process of understanding the service organization’s system, the Service Auditor would be required to obtain information that would identify risks that the description of the service organization’s system. It is not fairly presented, and the control objectives stated in the description were not achieved due to intentional actions by service organization personnel.

Who needs the SOC 1 Certification in Canada?

A Service Organization that may need a service organization to control one report is a company that provides payroll processing services to user entities. It uses the payroll processing company to realize the material impact of payroll on its financial statements. It requests independent assurance that its payroll is handled according to its expectations. Service organization control one report certification in Ottawa provides user entities of the payroll processing company reasonable assurance that the internal controls of the payroll processing company are suitably designed or suitably designed and operating effectively to provide the payroll services.

Who is Required to Have a Service Organization Control 1 Report?

Numerous service organizations may receive service organization control reports. The common theme between the service organizations should be the potential impact on user entities’ internal controls over financial reporting Som. e examples of organizations that may receive SOC 1 include:

• Payroll processors
• Medical claims processors
• Loan servicing companies
• Data center companies

By looking at all the reasons, everyone is getting how the SOC 1 Certification will help to control the service organization. If you’re looking to get SOC 1 Certification in Canada

How to get SOC 1 Certification in Canada?

Factocert is one of the leading SOC 1 Consultants Services in Canada pr,oviding service organization control to all organizations. We are one of the well-recognized firms with experts in every industry sector to implement the standard with a 100% track record of success. You can write us at contact@factocert.com. Factocert and provide your contact details so that one of our certification experts can contact you at the earliest to understand your requirements better and provide the best available service in the market.

For more infomation Visit: SOC 1 Certification in Canada