In an increasingly digitalised and outsourced financial environment, demonstrating reliable processes and effective internal controls is more important than ever. Financial institutions are relying more heavily on external service providers, making transparency around the design, operation and effectiveness of control frameworks a crucial factor in managing risks and meeting regulatory expectations.
Obtaining Independent and Objective Assurance
Grant Thornton Belgium supports organisations in obtaining independent and objective assurance over their control environment through ISAE and SOC reporting. These reports provide insight into the extent to which processes and controls are appropriately designed and operating effectively, thereby enhancing the confidence of customers, business partners and regulators.
Depending on the nature of the activities and stakeholder expectations, we support organisations with various forms of reporting. ISAE 3402 and SOC 1 reports focus on controls relevant to financial reporting and transaction processing, providing assurance over the reliability of these processes. For outsourced processes that are not directly linked to financial reporting, ISAE 3000 reports offer an appropriate framework to provide assurance over specific control environments.
Preparing Reports
We also support organisations in the preparation of SOC 2 reports, which focus on the controls governing systems and processes based on the Trust Services Criteria, including security, availability, processing integrity, confidentiality and privacy. These reports are particularly relevant for organisations providing digital or cloud-based services within the financial services sector.
Our services go beyond reporting alone. We also support organisations in their preparation through readiness assessments and advisory services, helping to increase the maturity of their internal control environment. This includes identifying gaps, establishing control frameworks and structuring processes to enable organisations to successfully obtain an ISAE or SOC assurance report.
By combining our audit expertise, sector knowledge and pragmatic approach, we help financial institutions and their service providers build trust, strengthen risk management and meet increasingly demanding expectations regarding transparency and internal control.
