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New opportunities for firms in SOC reporting

by Joseph Radigan | Nov 20, 2019   ()

Fueled by the business world's continuing evolution toward outsourcing, a service that remains relatively new is providing increasing opportunities for CPA firms that possess deep technology expertise.

An overwhelming majority (84%) of companies polled in Deloitte's 2018 Global Outsourcing Survey said they have either initiated discussions, conducted pilots, or implemented at least some outsourcing solutions. Meanwhile, businesses' move toward cloud services places their data in the hands of third parties. But, while outsourcing can provide new efficiencies and cost savings, companies encounter new risks when they turn over operations and data to partners outside their organization.

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Source: Journal of Accountancy

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