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Comprehensive Attestation Services for Managing Third-Party Risks

Organisations across various industries continue to outsource key activities and processes to third-party service providers for a range of business and operational reasons.

With the increasing reliance on third parties, there is a clear need, as well as regulatory requirements, for organisations to manage the risks associated with such outsourced arrangements.

Our team offers attestation and assurance services to a wide array of third-party service providers, not only in the financial services industry but also in sectors such as banking, IT, asset management, and insurance. Obtaining a SOC (Service Organisation Controls) report or a similar attestation report provides a credible solution for managing and overseeing third-party providers and their respective risk and control environments.

These reports can take the form of SOC 1, 2, or 3 reports, or a tailored attestation report, depending on your specific needs.

SOC1 Report: An assurance report that evaluates a service organisation's system of internal controls relevant to a user organisation's financial reporting.
SOC2 / SOC3 Reports: Focuses on a business's non-financial reporting controls related to the security, availability, processing integrity, confidentiality, and privacy of its systems.

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Frankie Cronin

Partner - Business Risk Services

Contact Frankie Cronin Learn more about Frankie Cronin

Why Grant Thornton

Grant Thornton performs all of its SOC and attestation services engagements in accordance with the relevant professional assurance standards – i.e. ISAE 3402 or SSAE 18 (previously SSAE 16).

Our clients attest that they derive tangible benefits from engaging a SOC assurance review and report annually. The ultimate benefit being one of protecting and enhancing the value of their business by:

achieving competitive advantage in the marketplace in having this control oversight mechanism in place;
adding weight to their business proposition and risk management capabilities in tendering for new business;
providing assurance to existing clients to support and protect their business relationship;
enhancing reputational credibility as an outsourced service provider in the market place;
achieving operational efficiency by reducing management time spent answering client and/or auditor queries;
supporting the proactive management of their control environment via identification and remediation of risk/control matters raised in the SOC report itself; and
satisfying assurance requirements of other parties – such as Board of Directors/banks/regulators.

Attestation Services

Comprehensive Attestation Services for Managing Third-Party Risks

Why Grant Thornton

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