BARR Advisory provides SOC 1 compliance consulting and audit services for organizations that outsource services or systems impacting their internal controls over financial reporting (ICFR). The service helps organizations demonstrate the effectiveness of their security processes and procedures around financial reporting to clients and stakeholders. SOC 1 reports assess controls relevant to financial data security, including financial statements and client data. The service covers both general information technology controls (logical access, change management, operations) and business process controls (completeness and accuracy of transaction processing). Control objectives are customized for each organization and typically range from 10 to 30 objectives per report. BARR Advisory offers both SOC 1 Type 1 reports (point-in-time assessment of control design) and SOC 1 Type 2 reports (assessment of control design and operating effectiveness over a specified period). Type 1 reports evaluate controls at a specific point in time, while Type 2 reports are typically issued annually and cover a period of time. The service is designed for organizations such as Cloud ERP service providers, financial services firms, payroll processors, healthcare claims processors, and data center colocation providers. SOC 1 reports are valid for one year from issuance and are shared privately with stakeholders under non-disclosure agreements.