Get SOC 1 Certified in
4-6 Months, Not 12+
CPA-attested SOC 1 reports for service organizations affecting client financial statements. Required by auditors. Mandated by regulators. We handle everything.
What is SOC 1?
SOC 1 (Service Organization Control 1) is a CPA-attested report on controls at a service organization relevant to user entities' internal control over financial reporting (ICFR).
Who Needs SOC 1?
- Payroll service providers
- Payment processors & gateways
- Claims processing services
- Loan servicing platforms
- Benefits administration
- Financial data centers
- Banking-as-a-Service (BaaS) providers
Why It's Required
Auditor Requirement:
Your client's auditors need SOC 1 to assess risks to their financial statements. Without it, they can't rely on your controls.
Regulatory Compliance:
Financial institutions are required to assess third-party service providers. SOC 1 is the standard proof.
Contract Requirement:
Enterprise financial services contracts mandate SOC 1. No report = no contract.
SOC 1 Type I vs. Type II
Both are CPA-attested, but they test different things
SOC 1 Type I
Point-in-Time Assessment
Best for:
Initial compliance, new service organizations, or when clients accept Type I
SOC 1 Type II
Operating Effectiveness
Best for:
Most organizations. Auditors prefer Type II. Provides stronger assurance.
Common SOC 1 Control Objectives
SOC 1 focuses on controls relevant to Internal Controls over Financial Reporting (ICFR). These are the most common control areas auditors examine.
Transaction Processing
Controls ensuring financial transactions are complete, accurate, and authorized
Access Controls
Logical and physical access to financial systems and data
Change Management
Controls over changes to financial systems and applications
Data Integrity
Ensuring financial data remains accurate and complete
Monitoring & Oversight
Management oversight of financial reporting controls
Vendor Management
Controls over subservice organizations affecting financial reporting
SOC 1 vs. SOC 2: What's the Difference?
Both are CPA-attested reports, but they serve different purposes
SOC 1
Financial Reporting Controls
Purpose:
Reports on controls relevant to user entities' financial statement audits
Who needs it:
Service organizations that process financial transactions or hold financial data
Standard:
SSAE 18 (AT-C Section 320)
Examples:
- • Payroll processors
- • Payment gateways
- • Loan servicing platforms
- • Claims processing
SOC 2
Security & Trust Controls
Purpose:
Reports on controls relevant to security, availability, confidentiality, privacy
Who needs it:
SaaS, cloud providers, and technology companies handling customer data
Standard:
Trust Service Criteria (TSC)
Examples:
- • SaaS platforms
- • Cloud infrastructure
- • Data analytics services
- • Healthcare tech
Can you have both?
Yes! Many organizations get both SOC 1 and SOC 2. For example, a payroll SaaS platform would need SOC 1 for financial reporting controls (payroll calculations, tax withholdings) and SOC 2 for security controls (data protection, availability). We help you achieve dual compliance efficiently.
Everything You Need for SOC 1
We've delivered 200+ SOC 1 reports with 100% pass rate. From ICFR control design to CPA coordination, we handle it all.
Automate Evidence Collection
Reduce manual effort with automated workflows for financial control evidence collection and testing.
- Pre-mapped ICFR controls
- Automated evidence capture
- Expert-guided implementation
15+ CPA Firm Network
We coordinate with pre-vetted CPA firms specializing in SOC 1. End-to-end auditor coordination.
- SOC 1-specialized CPAs
- Financial services expertise
- End-to-end coordination
Stay Audit-Ready
SOC 1 isn't one-time. Real-time control monitoring keeps you audit-ready year-round.
- Real-time control monitoring
- Automated evidence capture
- Built for Type I & Type II
Manual SOC 1 vs. Tranquility
Most companies waste 6-12 months on manual SOC 1 prep. We automate 80% of it.
❌ Without Tranquility
- Manual evidence collection200+ hours
- Finding the right CPA firm4-6 weeks
- Control design & documentation3-4 months
- Audit coordination & follow-ups50+ emails
- Total timeline12-18 months
✅ With Tranquility
- Automated evidence collection80% faster
- Pre-vetted CPA networkInstant match
- Pre-built control templates2-3 weeks
- End-to-end coordinationZero emails
- Total timeline4-6 months
The SOC 1 Audit Process
Understanding the SOC 1 journey from readiness to report delivery
Readiness Assessment
- Scope definition: Which services affect client financial statements?
- Control identification: Map existing controls to ICFR objectives
- Gap analysis: Identify missing or weak controls
- Remediation plan: Prioritize control improvements
Control Design & Implementation
- Design controls to address identified risks
- Document control descriptions and procedures
- Implement controls across the organization
- Train staff on control execution
Evidence Collection
- Collect evidence of control operation
- Maintain audit trail for all financial transactions
- Document exceptions and remediation
- Prepare for CPA testing
CPA Audit & Testing
- CPA performs control testing
- Sample transactions and evidence review
- Interviews with control owners
- Identify and document exceptions
Report Issuance
- CPA drafts SOC 1 report
- Management review and approval
- Final report issuance
- Distribution to user entities
What Auditors Actually Test
Based on 200+ SOC 1 audits, these are the areas where organizations most commonly fail
Segregation of Duties
40% failCommon Issue:
Same person can initiate AND approve financial transactions
What auditors test:
- •User access rights analysis
- •Transaction approval workflows
- •Compensating controls for small teams
How to pass:
Implement role-based access control (RBAC) with clear separation between transaction initiation, approval, and reconciliation
Change Management
35% failCommon Issue:
Production changes without proper testing or approval
What auditors test:
- •Sample 10-15 production changes
- •Verify approval documentation
- •Check testing evidence
How to pass:
Mandatory change tickets with approval, testing evidence, and rollback procedures for ALL production changes
User Access Reviews
30% failCommon Issue:
Terminated employees still have system access
What auditors test:
- •Quarterly access review documentation
- •Offboarding procedures
- •Privileged access management
How to pass:
Automated quarterly access reviews with documented approval and same-day offboarding procedures
Practitioner Insight
We've delivered 200+ SOC 1 reports with 100% pass rate. The key difference between organizations that pass and those that fail? They treat SOC 1 as an operational discipline, not a compliance checkbox.Implement controls 3 months before the audit period, run internal testing, and collect evidence systematically. Most failures happen because organizations rush implementation and don't give controls time to operate effectively.
Authoritative Resources
Official standards and guidance for SOC 1 attestation