SOC 1 Certification in Kenya is a widely recognized certification standard established by the American Institute of Certified Public Accountants (AICPA) to address the financial reporting controls of service organizations. This certification is particularly relevant for businesses that handle sensitive financial data or provide services that impact the financial statements of their clients. SOC 1 compliance involves thoroughly examining the design and operational effectiveness of controls that ensure the security, availability, processing integrity, confidentiality, and privacy of financial information.
Two types of SOC 1 reports are Type I and Type II. A SOC 1 Type I report evaluates the suitability of the design of the controls at a specific point in time, ensuring they are appropriately designed to meet the specified criteria. On the other hand, a SOC 1 Type II report assesses controls’ design and operational effectiveness over a minimum period of six months.
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