SOC 1 Readiness
A critical preparatory phase for organizations looking to undergo a SOC 1 audit
What is it?
SOC 1 readiness is a critical preparatory phase for organizations looking to undergo a SOC 1 audit. This phase helps businesses evaluate whether their internal controls related to financial reporting are in line with the requirements set by the AICPA (American Institute of Certified Public Accountants) for SOC 1 compliance.
SOC 1 compliance is essential for service organizations that handle financial data for their clients, as it directly impacts the accuracy and integrity of financial statements. A readiness assessment ensures that your systems, processes, and controls are in place and effective, which minimizes risks during the formal audit process.
Our Process
1
Initial Consultation & Scoping
We begin with a thorough analysis of your business operations to understand which areas are relevant to financial reporting and which should be covered by SOC 1.
3
Remediation Planning
Based on the findings, we provide actionable remediation steps to address any identified gaps in controls or processes.
2
Control Evaluation & Gap Analysis
We evaluate your existing internal controls, processes, and systems to identify any gaps or deficiencies. This analysis highlights areas that require improvements or adjustments.
4
Readiness Report
We prepare a comprehensive readiness report, detailing your compliance status and providing a clear path to meet SOC 1 requirements.
Your Deliverables
SOC 1 Readiness
Report
Gap Analysis
& Remediation Plan
A Roadmap to Address Control Deficiencies (if any)
Recommendations for Policy & Process Updates
Why Choose NDB?
NDB has extensive experience guiding organizations through the complexities of SOC 1 compliance. Our expert team tailors each readiness assessment to your unique business model, ensuring a smooth transition into the audit phase.
By partnering with NDB, you’ll be fully prepared to undergo your SOC 1 audit with confidence and minimize risks.
What Sets NDB Apart?
Deep Regional Knowledge: Our expertise in the regulatory requirements across the Southeastern U.S. enables us to offer regionally-specific solutions for your business.
Certified Experts: We employ a team of highly skilled professionals who hold certifications in multiple compliance standards (SOC 1, SOC 2, PCI DSS, ISO 27001, HIPAA, and more).
Tailored Solutions: We offer customized services based on your business size, industry, and unique compliance challenges.
Proven Track Record: With years of experience in guiding businesses through the regulatory maze, we have successfully supported organizations from diverse sectors, including finance, healthcare, technology, and retail.
Collaborative Approach: We work as an extension of your team, ensuring seamless integration with your internal processes while providing transparent and efficient compliance management.
