Do we need a CPA firm for SOC Attestation?

Emerging technology and growing trends of outsourcing critical business operations to third-parties have greatly exposed businesses to Cyber Security threats and Compliance Risks. With this, global regulatory bodies have started placing great emphasis on Cyber Security and Compliance for businesses.

The AICPA Attestation Standards require CPA firms to enter the Cyber Security space for auditing and helping businesses establish strong and effective internal controls over financial and non-financial reporting of Service Organizations.

Having said that, in today’s article we have explained why a Service Organization needs a CPA firm for SOC Attestation.

The article explains the role of a CPA firm in the SOC Audit and Attestation process of a Service Organization. So, before getting into the details, let us first start by understanding who is a CPA.

Who is a CPA?

In the AICPA’s attestation standards, a CPA is a Certified Public Accountant who is qualified to perform an audit and attestation for Service Organizations on their internal controls over financial and non-financial reporting based on their SOC1 or SOC2 requirement.

The CPA examines and reports on controls at Service Organization related to various controls that affect user entities’ financial reporting or controls that affect the Security, Availability, and Processing Integrity of the systems and the Confidentiality and Privacy of the information processed for user entities’ customers.