Which of the following report is most aligned with financial control audits?

The correct answer is C. SOC 1. SOC 1 (Service Organization Control 1) reports are specifically designed to evaluate controls at a service organization that are relevant to user entities' internal control over financial reporting (ICFR). They are issued under the SSAE 18 standard (formerly SSAE 16) and are the

Submitted by jaden.t· Apr 18, 2026Legal, Risk and Compliance

Question

Options

ASSAE 16
BSOC 2
CSOC 1
DSOC 3

How the community answered

(25 responses)

A
4% (1)
B
8% (2)
C
88% (22)

Explanation

SOC 1 (Service Organization Control 1) reports are specifically designed to evaluate controls at a service organization that are relevant to user entities' internal control over financial reporting (ICFR). They are issued under the SSAE 18 standard (formerly SSAE 16) and are the standard tool for financial control audits. SOC 2 focuses on security, availability, processing integrity, confidentiality, and privacy - not financial reporting. SOC 3 is a public summary version of SOC 2. SSAE 16 is the now-superseded auditing standard under which SOC 1 reports were previously issued, not a report type itself.

Topics

#SOC Reports#Compliance Audits#Financial Controls#Service Organization Controls

Community Discussion

No community discussion yet for this question.

Full CCSP Practice