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SOC Means Security and Surety

Recordsforce's first-in-market Service Organization Controls (SOC) certification places our process and controls a step beyond our competition

What is a Service Organization Controls Report?

The Service Organization Controls Report, or as it is formally know, the Statement on Standards for Attestation Engagements, No. 16, (SSAE 16), is a standard put forth by the Auditing Standards Board (ASB) of the American Institute of Certified Public Accountants (AICPA). The SOC serves to audit and assess, to professional standards, the systems of a service organization, including outsourced services providers such as Recordsforce.

Not a mere checklist or “quick glance” audit, a SOC is thorough, multi-month, independent third-party audit and opinion rendering on and of the very systems the services organization employs to fulfill its offerings to its clientele, including organizations that provide outsourcing services.

I’ve heard of a SAS 70…isn’t this just the same thing?

Not at all! Beyond being a more aligned with international accounting practices, the SOC both updates and vastly improves on the SAS 70 audit. Here’s how:

“System” vs. “Controls” – Though called the Service Organization Controls Report, an SOC actually requires a “systems” description, while the SAS 70 merely called for a description of “controls”. More than just semantics, a “system” is the services provided, along with the supporting processes, controls, policies, procedures, personnel and operational activities, which constitute the service organization's core activities that are relevant to their clients. A SOC is a stronger and broader standard, whereby the SAS 70 “controls” are simply a part of the bigger picture. 

Written Management Assertion – The SOC requires written management assertion, something that was never required for a SAS 70. This assertion encompasses a number of essentials, including that: (i) the "systems” description are fairly presented; (ii) the control objectives were both suitably designed and operating effectively; and, (iii) the criteria used for making assertions, accounted for in additional statements with supporting material, were in place and consistently applied.

What does SOC mean for me and my records?

Outsourcing services that involve your firm’s data and information can have a material financial impact on your organization. A SOC serves as a universally accepted validation that the appropriate system(s) have been implemented to safeguard your data and information.

So whether utilizing Recordsforce for accounts payable automation, accounts payable scanning, human resource scanning, patient file scanning, explanation of benefits scanning, or any other document scanning, or Recordsforce’s web-based content management system, FileBound On-Demand, you have the comfort to know that the Recordsforce systems have achieved a level of safeguards few others in the industry have achieved. This globally accepted standard also means your firm can benefit for the mitigated risks while saving the cost and time to send your own auditors to audit Recordsforce.