System and Organization Controls (SOC) Audit Services
Comprehensive SOC 1, SOC 2, and SOC 3 Reporting for Service Organizations.
What Is a SOC Audit
System and Organization Controls (SOC) audits are independent examinations designed to help service organizations demonstrate the strength of their internal controls, data security, and compliance with regulatory standards. Whether your business handles sensitive financial data, provides IT services, or supports third-party clients, a SOC report is essential for building trust and reducing risk.
At Akram | Assurance, Advisory & Tax, we guide organizations through the full SOC audit lifecycle—from readiness assessments to final reporting—with a focus on transparency, efficiency, and long-term compliance.
Our SOC Audit Approach
With over 20 years of experience, our team delivers clear, tailored guidance for organizations pursuing SOC compliance. We help you:
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Perform a detailed SOC readiness assessment to identify control gaps
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Align with the correct SOC framework for your business model
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Develop and document internal control systems that meet audit standards.
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Support your team throughout the audit and reporting process.
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Deliver a final SOC report you can confidently share with clients, partners, and regulators
Benefits of a SOC Report
A successful SOC audit can::
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Reduce compliance costs and shorten external audit timelines
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Help meet contractual obligations and third-party risk management requirements
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Address cybersecurity risks and strengthen your risk posture.
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Build trust and transparency with investors, clients, and stakeholders
Types of SOC Reports We Offer
SOC 1: Internal Controls Over Financial Reporting (ICFR)
A SOC 1 report focuses on controls relevant to your clients’ financial statements. It is commonly used by:
- Fund administrators
- TPAs
- Payroll Processors
- Loan servicing companies
SOC 2: Security, Availability, Processing Integrity, Confidentiality & Privacy
A SOC 2 report evaluates the effectiveness of your organization’s IT controls. It helps meet:
- Fund administrators
- Vendor due diligence standards
- Cybersecurity and data protection requirements
- Regulatory frameworks (e.g., HIPAA, GDPR, GLBA)
This report is essential if your customers ask about your security posture, data privacy, or cloud infrastructure. Download our SOC 2 Compliance Checklist (PDF)
SOC 3: Public-Facing Compliance Reporting
A SOC 3 report is a high-level summary of your SOC 2 controls, designed for public distribution. It offers::
- A seal of approval for your organization’s IT systems
- A marketing and trust-building tool for your website or sales materials
- Transparency without exposing technical detail
Download our SOC 3 Guide (PDF)
Which SOC Report Do You Need?
Not sure which SOC report applies to your business? We help you determine the best fit based on:
- Your industry and client base Type of data processed
- Regulatory or contractual requirements
- Internal control maturity
Our experts will explain the differences between SOC 1 vs. SOC 2 vs. SOC 3, and guide you through the steps needed to obtain your report.
Industries We Serve
- Private fund administrators Fintech and SaaS companies
- Third-party administrators (TPAs)
- Payroll, claims, and benefits processors
- Cloud and IT service providers
- Data hosting & BPO providers
Why Choose Akram for Your SOC Audit?
- 20+ years of audit, risk, and control experience Dedicated support from CPA-led teams
- Proven track record with emerging and institutional clients
- End-to-end service from gap analysis to final report issuance
- Deep understanding of fund services, technology, and compliance
Best Accounting & Audit Firm | Start-up & Emerging Funds
Akram is a winner in the Hedgeweek Americas Awards for consecutive 3 years 2021, 2022, and 2023
We have been voted “Best Accounting Firm for Start-up & Emerging Funds" by Hedge Week.
Akram is a winner of “Best Audit Firm" by Private Equity Wire US Emerging Managers Awards 2024.
Industry Memberships
Contact Us for Investment Fund Accounting Solutions
We understand that clients in the Alternative Investments arena are extremely prudent. At Akram, we provide high-end, tailored fund accounting services with careful planning and an unmatched responsiveness that only a boutique accounting firm like ours can deliver. Contact us today to learn more about our specialized assurance, advisory, and tax services for hedge funds, commodity trading advisors, private equity and venture capital funds, digital asset funds, insurance dedicated funds, real estate funds, day traders, investors, family offices, and high net worth individuals.