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System and Organization Control (SOC) Audit Services

Organizations that process or store customer data are increasingly required to prove that their controls are secure, reliable, and compliant. A System and Organization Controls (SOC) audit provides independent assurance that your organization has the right controls in place to manage financial reporting risks, protect sensitive information, and meet customer and regulatory expectations.

LBMC provides SOC 1, SOC 2, SOC 3, and SOC for Cybersecurity examinations to service organizations across the country. Our experienced audit and cybersecurity professionals help you move from readiness to reporting with clarity and confidence.

Not sure where to start?

We can help you determine the right SOC report and timeline based on your organization’s risk profile and customer requirements.

What Is a SOC Audit?

A SOC audit is an independent examination performed under SSAE 18 standards and issued by a licensed CPA firm. Developed by the AICPA, SOC reports evaluate a service organization’s systems, processes, and internal controls.

SOC examinations are conducted under SSAE 18 standards by licensed CPA firms authorized to issue independent attestation reports. This ensures the report meets strict professional and regulatory requirements.

SOC reports help:

Demonstrate security and compliance to customers
Support vendor due diligence requirements
Strengthen internal control environments
Build trust during sales and procurement cycles

For many organizations, a SOC report can be the difference between winning and losing business.

Download the SOC Guide

Get a practical overview of SOC report types, timelines, and readiness steps.

Which SOC Report Is Right for You?

Choosing the correct SOC report depends on how your customers use your services and what risks need to be addressed.

SOC 1 – Controls Over Financial Reporting

Best for organizations whose services impact customers’ financial statements.

You likely need a SOC 1 if:

Your customers rely on your system for financial reporting
You support payroll, claims processing, fund administration, or transaction processing
Your customers’ auditors request assurance

Available as:

Type I – Design of controls at a point in time
Type II – Design and operating effectiveness over 6–12 months

SOC 2 – Trust Services Criteria

Best for organizations that store, process, or transmit sensitive customer data.

SOC 2 evaluates controls against the AICPA Trust Services Criteria:

Security (required)
Availability
Processing Integrity
Confidentiality
Privacy

Available as:

Type I – Design effectiveness
Type II – Design and operating effectiveness over time

SOC 2 reports are restricted-use and include detailed testing procedures and results.

Understanding the Trust Services Criteria

Security – Protection against unauthorized access and system compromise. (Required in every SOC 2.)
Availability – Systems are accessible and operational as agreed.
Processing Integrity – Systems process data completely, accurately, and on time.
Confidentiality – Sensitive business information is properly protected.
Privacy – Personal information is collected, used, retained, and disposed of appropriately.

Organizations select the criteria that align with the services they provide and the risks they manage.

SOC 3 – Public-Facing Trust Report

A SOC 3 report evaluates the same Trust Services Criteria as SOC 2 but is designed for general distribution.

SOC 3 is appropriate if:

You want to publish assurance publicly
You need marketing-level proof of security controls
Customers do not require detailed testing results

SOC 3 reports can be displayed on your website and may include the SOC 3 seal.

SOC for Cybersecurity

SOC for Cybersecurity provides a general-use report on your enterprise-wide cybersecurity risk management program.

Unlike SOC 2:

It evaluates your overall cybersecurity risk management program
It is not limited to a system or specific services
It may use Trust Services Criteria or another accepted framework
It is intended for broader stakeholders, including boards and investors

How a SOC Audit Works in Practice

SOC engagements are structured and methodical. While each engagement varies based on scope, the process generally includes:

Discovery and Scoping – Define system boundaries, services, and applicable criteria.
Readiness Assessment (Optional but Recommended) – Identify control gaps before formal testing begins.
Control Implementation and Remediation – Management designs and implements required controls.
Examination Period – For Type II reports, controls operate over a defined period (typically 6–12 months).
Testing and Reporting – LBMC performs testing, evaluates evidence, and issues the SOC report.

Reports are typically issued 45–60 days after the reporting period ends.

Preparing for a SOC 2 Audit

If you are pursuing a SOC 2 engagement, preparation is critical. Organizations typically:

Engage an experienced CPA firm with cybersecurity expertise
Determine which Trust Services Criteria apply
Perform a readiness assessment
Remediate control gaps
Establish documentation and evidence processes
Implement self-monitoring controls

SOC compliance is not a short-term project. It requires sustained governance, documentation, and operational discipline.

What to Expect During a SOC Audit

SOC reporting requires planning, documentation, and sustained operational discipline. While timelines vary, first-time Type II reports typically require several months of preparation and an observation period of 6–12 months.

A few important realities:

Compliance is ongoing, not a one-time project.
Exceptions are common and do not automatically result in a failed report.
Controls must operate in practice — not just exist in policy documents.
Changes in systems or infrastructure during the audit period should be communicated early.

Organizations that approach SOC as a long-term governance initiative, rather than a short-term checkbox exercise, see the strongest operational and reputational benefits.

Why Organizations Pursue SOC Reporting

Common drivers include:

Enterprise customers requiring formal security assurance
Increased vendor due diligence requests
Private equity or investor expectations
Regulatory or industry pressures
Competitive differentiation
Sales cycle acceleration

SOC reporting signals operational maturity and security accountability.

Ready to Begin Your SOC Journey?

Whether you’re pursuing your first SOC report or expanding to additional frameworks, LBMC’s SOC audit professionals can help you clarify scope, reduce risk, and move forward with confidence.

Industries We Serve

LBMC performs SOC audits for organizations across multiple industries, including:

Healthcare and claims processing
Financial services
Cloud service providers
SaaS and technology companies
Data centers and hosting providers
Private equity portfolio companies

We maintain appropriate licensure in the states where we provide attest services.

Why Choose LBMC for Your SOC Audit?

LBMC combines audit rigor with cybersecurity expertise to provide practical, business-aligned guidance.

Deep experience across SOC 1, SOC 2, SOC 3, and SOC for Cybersecurity
Integrated audit and cybersecurity teams
Readiness-to-report support
Multi-framework knowledge (SOC, HITRUST, ISO 27001, NIST, PCI DSS)
Practical remediation guidance grounded in real-world risk

We don’t just test controls — we help organizations strengthen them.

CLIENT TESTIMONIAL

You will not find a more professional team than LBMC. They are easy to work with, challenge us to be better, and deliver excellent results every time. LBMC has been our partner for many years and has worked alongside us as a trusted advisor in helping with our SOC Audit needs.

Webinar: What should be in my SOC description?

LBMC’s Richard Beard shares an overview of SOC system descriptions and what should be included in an organization’s SOC 1 and SOC 2 reports.

For more frequently asked questions read our blog, “Where to Get a SOC Report.”

Which SOC Report is Right for You? (SOC 1, SOC 2 or SOC 3)

You Likely Need a SOC 1 If:

Your services impact your customers’ financial statements
Customers’ auditors request assurance over financial controls
You process payroll, claims, transactions, or financial data
Your report will support SOX compliance

Result: SOC 1 (Type I or Type II)

You Likely Need a SOC 2 If:

You store, process, or transmit customer data
Customers require proof of security controls
You are a SaaS, cloud, or technology service provider
Enterprise clients request detailed testing results
You need assurance aligned to the Trust Services Criteria (Security, Availability, Confidentiality, Privacy, Processing Integrity)

Result: SOC 2 (Type I or Type II)

You Likely Need a SOC 3 If:

You want to publicly demonstrate security assurance
Prospects ask for high-level proof of controls
You do not need to provide detailed testing results
You want to display a SOC seal on your website

Result: SOC 3 (General Use Report)

You Likely Need a SOC for Cybersecurity If:

You want to report on your entire cybersecurity risk management program
Your board or investors want enterprise-level assurance
You need a general-use report for broad stakeholders
You want flexibility in the security framework used

Result: SOC for Cybersecurity

Still Not Sure?

Some organizations require more than one SOC report. If you’re navigating customer requirements or audit requests, we can help clarify scope and recommend the right path.

Webinar: AWS and Your SOC 2 Report

Key topics covered:

AWS shared responsibility model
Access management and IAM controls
Logging, monitoring, and resource management
Backup, replication, and availability configurations
Confidentiality, privacy, and automated data retention
Best practices for preparing your AWS environment for a SOC 2 audit

Speaker: Andrew Stansfield, CISA, CCSFP, Senior Security Consultant, LBMC

FAQs About SOC Audits

What is the difference between SOC 1 and SOC 2?

SOC 1 focuses on controls related to financial reporting. SOC 2 focuses on security and data protection under the Trust Services Criteria.

What is the difference between SOC 2 and SOC 3?

SOC 2 is restricted-use and includes detailed testing results. SOC 3 is a general-use summary report suitable for public distribution.

How long does a SOC audit take?

For first-time Type II reports, the process may take 6–12 months including readiness and testing. Mature organizations may complete it more quickly.

Do I need a readiness assessment first?

Most first-time organizations benefit from a readiness assessment to identify and remediate gaps before formal testing.

How do I get started?

Begin with a scoping conversation to determine which SOC report aligns with your customers’ expectations and risk profile.

Executive Team

LBMC Is Here to Help

Not sure what you need? That’s okay. Just give us a description of what you’re looking for and we will have an LBMC sales team member contact you. LBMC is qualified to handle complex and challenging financial and consulting situations. Our fees reflect this expertise.

System and Organization Control (SOC) Audit Services

Not sure where to start?

What Is a SOC Audit?

Download the SOC Guide

Which SOC Report Is Right for You?

SOC 1 – Controls Over Financial Reporting

SOC 2 – Trust Services Criteria

Understanding the Trust Services Criteria

SOC 3 – Public-Facing Trust Report

SOC for Cybersecurity

How a SOC Audit Works in Practice

Preparing for a SOC 2 Audit

What to Expect During a SOC Audit

Why Organizations Pursue SOC Reporting

Ready to Begin Your SOC Journey?

Industries We Serve

Why Choose LBMC for Your SOC Audit?

Webinar: What should be in my SOC description?

Which SOC Report is Right for You? (SOC 1, SOC 2 or SOC 3)

You Likely Need a SOC 1 If:

You Likely Need a SOC 2 If:

You Likely Need a SOC 3 If:

You Likely Need a SOC for Cybersecurity If:

Still Not Sure?

Webinar: AWS and Your SOC 2 Report

FAQs About SOC Audits

What is the difference between SOC 1 and SOC 2?

What is the difference between SOC 2 and SOC 3?

How long does a SOC audit take?

Do I need a readiness assessment first?

How do I get started?

Executive Team

Drew Hendrickson

Shareholder & Practice Leader, Cybersecurity

Jacob Schuetze

Shareholder, Audit and Advisory

Paul Demastus

Shareholder, Audit and Advisory

Robyn Barton

Shareholder, Cybersecurity

LBMC Is Here to Help