Outsourcing companies providing their clients with services related to the execution of some of their business tasks/processes (e.g. accounting, staffing, IT administration) often have to ensure that internal audits performed by an outsourcing company are properly designed and implemented. Commissioning entities simply want to be sure that these companies have sufficient levels of safeguards and the risks involved with the outsourced performance of contracts are limited to an acceptable level.
By providing our clients with a SOC report, i.e. an independent, professional report (audits are performed in accordance with ISAE 3402 international auditing standards), we assure them that the outsourced services are provided with due diligence and meet quality requirements. In addition, such a report is a confirmation of the high quality of the services offered by small outsourcing companies. As a consequence, trust between the parties (outsourcing companies and commissioning entities) increases, which is extremely important in today's competitive market.
By preparing a SOC report (according to IASE 3402 standards), we assist in verifying the characteristics of the control environment and assess whether the monitoring activities in the outsourcing organization have been designed and implemented on the basis of the adopted internal control framework. Moreover, we can help identify and raise awareness of the relationship/links between key processes in the organization and identify existing loopholes in control processes/activities that may pose an increased risk to the functioning of the organization. Auditors who examine clients’ financial statements may also use the results and findings of our report, which will have the effect of limiting or even eliminating the need for additional procedures. An organization which has such a report available, can contribute to minimizing the involvement of additional resources in a significant way and thus reduce costs.
Should you need any internal audit support, please contact our expert, Michał Dreas, at:
tel. +48 61 8515 766