Question

An SOC 1 report is commonly implemented for organizations that must comply with Sarbanes-Oxley (SOX) or the Gramm-Leach-Bliley Act (GLBA).

A. True
B. False

Answer 1

Answer:

True

Explanation:

The SOC 1 report emphasizes on the controls of service organizations most probable to be crucial to an audit of the financial statements of a customer. This report helps customers auditors with the rules and regulation such as the SOX, also known as  the Sarbanes–Oxley Act.