Which type of controls are the SOC Type 1 reports specifically focused on?

The correct answer is C. Financial. SOC 1 (formerly SAS 70) reports are specifically focused on internal controls over financial reporting (ICFR). They are designed for service organizations whose services could impact a user entity's financial statements. This makes them relevant for auditors and financial…

Submitted by haru.x· Apr 18, 2026Legal, Risk and Compliance

Question

Options

AIntegrity
BPII
CFinancial
DPrivacy

How the community answered

(43 responses)

A
5% (2)
B
5% (2)
C
88% (38)
D
2% (1)

Explanation

SOC 1 (formerly SAS 70) reports are specifically focused on internal controls over financial reporting (ICFR). They are designed for service organizations whose services could impact a user entity's financial statements. This makes them relevant for auditors and financial stakeholders. SOC 2 and SOC 3 reports, by contrast, focus on the Trust Services Criteria (security, availability, processing integrity, confidentiality, and privacy)-not financial controls.

Topics

#SOC reports#SOC 1#Financial reporting#Compliance

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