Next Steps When Your Vendor’s SOC Report Has Issues

Venminder
January 24, 2024

Reviewing a vendor’s SOC report can be challenging enough, so what happens if the SOC report is filled with issues that the auditor found? Terms like “qualified opinion,” “adverse opinion,” “disclaimers,” and “exceptions” are significant enough for further review.

Your credit union will need to determine if you pass on the vendor relationship or mitigate or accept the risk and this infographic will help you make that decision. Download this resource to learn next steps to take when you have an unfavorable vendor SOC report on your hands.

Download to learn:

Common misconceptions with SOC reports
Four next steps after an unfavorable vendor SOC report
Three reminders about vendor SOC report reviews

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