SOC 1 Certification – Chicago (IL)

Chicago and Illinois business owners need to ensure sensitive data is protected, especially as it relates to financial information of customers.  Organizations also continue to face pressure from regulators and customers to demonstrate that adequate controls are in place with respect to processing transactions and internal controls over financial reporting. Government regulations, such as Section 404 of the Sarbanes-Oxley Act of 2002 (SOX 404) stress the need for effective internal controls. Ensuring the company has robust internal controls and policies and practices in place is essential. In fact, many may expect to see a System and Organization Controls (SOC) report before doing business with a company. This examination (often referred to as a “SOC 1 audit”) verifies that the controls, processes, and procedures have been tested and indicates whether controls are effective. 

Chicago SOC Expertise

Schneider Downs provides SOC examinations in Illinois and nationwide to 150 companies annually in a variety of industries. Typically, we work with organizations that use or store sensitive financial and other data that cybercriminals may want. Some examples of the clients we serve include Software-as-a-Service (SaaS) companies, data centers, IT-managed service providers, mortgage and loan servicing companies, medical claims processors, payroll companies, and inventory management and logistics providers. Our diverse range of experience permits us to understand the company more easily, its risk profile, areas of exposure, and important testing variables.

SOC 1 Examinations – Chicago IL

Schneider Downs is recognized as a premier provider of SOC services including:

• SOC Readiness Assessments - These assessments assess an organization’s preparedness for a successful SOC 1 examination.
• SOC 1 Examinations - These examinations focus on an organization’s business processes and IT controls, particularly those that are likely to be relevant to an audit of customers’ financial statements. There are two types of SOC 1 reports: Type 1 reports evaluate the design of an organization’s controls. Type 2 reports test whether an organization’s controls are properly designed and implemented.

About Chicago (IL)

Chicago is a city with a population of over 2.7 million, it is the third most populous city in the country, after New York City and Los Angeles. Chicago is known for its rich history, diverse culture, and beautiful architecture. Some popular attractions in Chicago include:

• The Willis Tower (formerly known as the Sears Tower), which is a 110-story skyscraper that was once the tallest building in the world.
• Millennium Park, which is a 24.5-acre park that is home to the famous Cloud Gate sculpture, as well as many other public art installations, gardens, and fountains.
• Navy Pier, which is a 3,300-foot-long pier that is home to many restaurants, shops, and attractions, including the Centennial Wheel, an iconic Ferris wheel that offers stunning views of the city.
• The Art Institute of Chicago, which is one of the oldest and largest art museums in the United States, with a collection that includes works by Monet, Van Gogh, and Picasso.
• Wrigley Field, which is a historic baseball stadium that is home to the Chicago Cubs.

Contact Our Chicago SOC 1 Examination Team

Schneider Downs provides SOC 1 examinations and readiness assessments to companies in Chicago and across Illinois. If you are interested in learning how we can assist your organization, complete the form to the right and a team member will follow up with you promptly.

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