SOC 1 engagements are performed in
accordance with Statement on Standards for
Attestation Engagements (SSAE) 16, Reporting
on Controls at a Service Organization. SOC 1
reports focus solely on controls at a service
organization that are likely to be relevant to
an audit of a user entity’s financial statements.
SOC 2 and SOC 3 engagements address
controls at the service organization that relate
to operations and compliance. SOC 1, 2 and 3
reports represent significant changes in service
organization reporting approaches brought
about as a result of several important changes.
Among the changes: