Which of the following best describes a Type 1 SOC report?

A Type 1 SOC (Service Organization Control) report focuses on the suitability of the design and implementation of controls at a specific point in time. This type of report evaluates whether the controls that are in place are appropriately designed to achieve their intended objectives. It does not assess the operating effectiveness of these controls over a period, which is characteristic of a Type 2 report.

By concentrating on a specific point in time, a Type 1 SOC report provides assurance to clients and interested stakeholders regarding the design of controls, giving them confidence that the controls are intended to mitigate risks effectively at that moment. It serves as a snapshot of the organization’s control landscape, rather than an in-depth review or an ongoing assessment that would occur in a Type 2 report.

This distinction is crucial for businesses and stakeholders who need to understand the effectiveness of control measures before engaging in business relationships or transactions involving sensitive information.