25. What is SOC 1 SSAE 16 reporting and why are information security policies and procedures important for SOC 1 compliance?
SOC 1 SSAE 16 reporting consists of Type 1 and Type 2 reporting using the AICPA SSAE 16 professional standard within the comprehensive Service Organization Control (SOC) reporting platform. Specifically, the SSAE 16 standard is a professional attestation standard put forth by the American Institute of Certified Public Accountants (AICPA) for reporting on controls at service organizations. These “service organizations” are essentially entities that generally provide essential outsourcing services to other businesses. It’s important to note that auditors who perform SSAE 16 assessments often require a healthy number of documented operational and information security policies and procedures to be in place.
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I.T. Security Policies and Procedures are Essential for SOC 1 SSAE 16 Compliance
Welcome to the world of regulatory compliance where policies and procedures are fast becoming a must have for any type of business. As for SSAE 16 Type 1 and Type 2 reporting, policy and procedure documents for risk assessment, network security, logical security, change management – just to name a notable few – are what organizations need to have in place for compliance. There’s no better organization to provide them than Flat Iron Technologies, LLC, a global leader in offering high-quality, well-written policies, procedures, and more. In fact, the Global Information Security Compliance Packet (GISCP) set of templates – available for purchase and immediate download – comes complete with hundreds of policies, procedures, forms, checklists, templates, and much more.
Another reason that makes operational and security policies and procedures so important for SOC 1 SSAE 16 compliance is the standard itself, which is quite flexible, ultimately allowing service organizations to include any number of control objectives as part of audit scope. What this ultimately means is that a large number of policies and procedures may be required for compliance, particularly general I.T. controls, such as change management, logical security, network security, physical and environmental security, and computer operations.
Additionally, the GISCP set of policies, procedures – and more – from Flat Iron Technologies, LLC, is exactly what service organizations need for assisting with SOC 1 SSAE 16 reporting. Not only will you receive policy and procedures template for SOC 1 SSAE 16 general I.T. control areas, but also for many operational and business specific categories, such as risk assessment, usage rights, social media, fraud, and more.