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Last updated on Nov 13, 2024

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2021-07-10
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2021-03-04

Document Application - SOC 1 Feature Description

The Document Application - SOC 1 feature helps you manage and share essential documents securely. It ensures compliance and provides a reliable framework for controlling your documents in a structured manner. This feature is designed for organizations that prioritize security and efficiency in document handling.

Key Features

Secure storage for sensitive documents
User-friendly interface for easy navigation
Compliance tracking for SOC 1 standards
Automated alerts for document updates
Role-based access for enhanced security

Use Cases and Benefits

Streamline audits and compliance checks
Facilitate secure document sharing among teams
Improve efficiency in document retrieval and management
Reduce the risk of data breaches
Enhance transparency in operations

This feature addresses your need for a reliable document management solution. By ensuring that all your documents comply with SOC 1 standards, you minimize risks and enhance your operational integrity. With the Document Application - SOC 1 feature, you gain peace of mind and focus on your core business, knowing your documents are secure and accessible.

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Below is a list of the most common customer questions. If you can’t find an answer to your question, please don’t hesitate to reach out to us.
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A SOC 1 Report (System and Organization Controls Report) is a report on Controls at a Service Organization which are relevant to user entities' internal control over financial reporting. SSA 18 Type I Report Background Information.
A Service Organization Control 1 or Soc 1 (pronounced “sock one”) report is written documentation of the internal controls that are likely to be relevant to an audit of a customer's financial statements.
A SOC 1 engagement is an audit of the internal controls which a service organization has implemented to protect client data, specifically internal controls over financial reporting (CFR). A SOC 1 report validating the organization's commitment to delivering high quality, secure services to clients.
Your service organization may need a SOC 1 report because your client or regulatory body is requesting it, or maybe because you're being proactive with information security and compliance. A SOC 1 report demonstrates to your clients that you take the security of sensitive data seriously.
A SOC 2 report, similar to a SOC 1 report, evaluates internal controls, policies, and procedures. However, the difference is that a SOC 2 reports on controls that directly relate to the security, availability, processing integrity, confidentiality, and privacy at a service organization.
Summary. A SOC 1 report is designed to address internal controls over financial reporting while a SOC 2 report addresses a service organization's controls that are relevant to their operations and compliance. One or both could be right for your organization.
There are two SOC report types type 1 which describes the systems of a vendor and tackles whether it is capable of meeting relevant trust principles as of a specified date and type 2 which details the operational effectiveness of the said systems throughout a disclosed period of time.
A SOC 3 report, just like a SOC 2, is based on the Trust Services Principles, but there's a major difference between these types of reports: restricted use. A SOC 3 report can be freely distributed, whereas a SOC 1 or SOC 2 can only be read by the user organizations that rely on your services.

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