{"id":1545,"date":"2016-10-10T05:01:32","date_gmt":"2016-10-10T11:01:32","guid":{"rendered":"https:\/\/cigniti.com\/blog\/?p=1545"},"modified":"2018-02-15T17:42:53","modified_gmt":"2018-02-15T12:12:53","slug":"cigniti-technologies-is-now-amongst-the-elite","status":"publish","type":"post","link":"https:\/\/www.cigniti.com\/blog\/cigniti-technologies-is-now-amongst-the-elite\/","title":{"rendered":"Cigniti Technologies Is Now Amongst The Elite!"},"content":{"rendered":"

With the successful completion of Service Organization Controls (SOC) audits, including SOC 1, SOC 2 and SOC 3, Cigniti Technologies joins the elite group of independent testing services organizations that have all undergone the audit. Cigniti\u2019s scope for SOC audit was \u2018Consulting, Software Design, Development and Testing System\u2019 for the managed services unit for the period January 1, 2015 to December 31, 2015 (including Gallop Solutions, 100% subsidiary of Cigniti Technologies Limited).<\/p>\n

[Tweet “The successful SOC audits of @Cigniti enable service #auditors to confirm Cigniti\u2019s regulatory compliance.”]<\/p>\n

Service Organization Controls in the form of reports are accounting standards that provide information of the finances of organizations. These reports are covered under the Assurance Reports on Controls at a Service Organization (ISAE) 3402, an assurance standard, and Statement on Standards for Attestation Engagements (SSAE) 16, an auditing standard. The three SOC reports, SOC 1, SOC 2, and SOC 3 cover different aspects of an organization that enable service auditors to report the compliance of the said organization with regulations.<\/p>\n

SOC 1<\/strong> reports \u201care specifically intended to meet the needs of the managements of user entities and the user entities\u2019 auditors, as they evaluate the effect of the controls at the service organization on the user entities\u2019 financial statement assertions.\u201d They are further subdivided into two types of reports, Type 1 and Type 2.<\/p>\n

Type 1<\/strong> \u2013 A design of controls report. This option evaluates and reports on the design of controls put into operation as of a point in time. Type 2 \u2013 Includes the design and testing of controls to report on the operational effectiveness of controls over a period of time. These reports are restricted to the users of the service organization, the management of the service organization, and user auditors.<\/p>\n

SOC 2<\/strong> reports \u201care intended to meet the needs of a broad range of users that need to understand internal control at a service organization as it relates to Security, Availability, Processing Integrity, Confidentiality or Privacy.\u201d Use of these reports is generally restricted to the management of the service organization, user entities, and user auditors.<\/p>\n

These reports are also subdivided into Type 1 and Type 2 reports. Type 1 \u2013 report on management\u2019s description of a service organization’s system and the suitability of the design of controls. Type 2 \u2013 report on management\u2019s description of a service organization\u2019s system and the suitability of the design and operating effectiveness of controls.<\/p>\n

[Tweet “@Cigniti\u2019s #SoftwareTesting services are catered across industries and often exclusively tailored to meet specific client requirements.”]<\/p>\n

SOC 2 report demonstrates an independent auditor\u2019s review of a service organization\u2019s application of criteria related to one or more of the Trust Services Principles, which are \u2013<\/p>\n