How To Recover From a Cheap SOC Report

Choosing a low-cost SOC report might have seemed like a smart, budget-friendly decision at the time. Now that you’ve received the report, you’re realizing it may not provide the assurance your stakeholders, clients, or auditors need. Perhaps key controls weren’t tested, gaps in system processes were overlooked, or the report’s scope didn’t align with your business objectives. The good news is that even after selecting a cheaper SOC engagement, there are steps you can take to correct the course and ensure your organization remains compliant and protected.

Imagine a mid-sized company with $50M in annual revenue opted for a budget-friendly SOC 2 engagement. At first glance, the report arrived on time and under budget, but as the company reviewed it, several pain points became clear. Critical automated controls weren’t assessed, system dependencies were misunderstood, and certain regulatory requirements weren’t addressed. When stakeholders asked questions or auditors requested evidence, the gaps in coverage became painfully obvious. What should the company do next?

The first step is to carefully review the report against your internal control framework, compliance obligations, and business requirements. Identify missing controls, incomplete testing, or misaligned scope areas. This process often reveals where remediation or additional evidence is needed. A structured gap analysis not only clarifies the problem but also provides a roadmap for corrective action.

Once you’ve mapped the gaps, bring in an experienced SOC provider to address deficiencies. Unlike low-cost auditors who may have rushed the engagement or lacked industry knowledge, a qualified provider can:

This step is crucial for turning a flawed report into a reliable assurance tool, without having to start entirely from scratch.

After identifying gaps and consulting with a qualified SOC partner, prioritize remediation activities. This could include tightening control procedures, updating system documentation, or training staff on internal control responsibilities. Once improvements are in place, perform targeted re-testing to validate that the fixes meet SOC requirements. This approach ensures your report accurately reflects your control environment and reduces future risk.

Even with a corrected SOC report, transparency is key. Inform auditors, clients, and internal stakeholders about the steps taken to address deficiencies. Providing a clear remediation plan, along with evidence of testing, restores confidence and demonstrates a proactive approach to risk management.

While corrective action is possible, it’s always better to prevent issues before they arise. Investing in a well-scoped SOC engagement from the start ensures you receive a report that truly reflects your control environment.

By following these steps, organizations can recover from a subpar SOC report, strengthen internal controls, and regain stakeholder trust without having to start over. Choosing the right provider, even after a low-cost engagement, turns an initial misstep into a strategic opportunity to improve compliance and operational resilience.

Clark Schaefer Consulting helps organizations improve SOC reports from previous engagements and complete full SOC examinations from start to finish. We ensure your controls are fully assessed and aligned with business objectives. Our team delivers a clear, actionable SOC report that gives stakeholders the assurance they need. Reach out today to correct gaps or start a SOC engagement with confidence.