SOC Audits Uncover Hidden Business Risks

The mass cancellations that plagued Southwest Airlines over the holidays cost the airline hundreds of millions of dollars in lost revenue and even more in reputational damage. More recently, the Federal Aviation Administration (FAA) faced its own meltdown that grounded more than 10,000 flights nationwide.

Could these crises have been averted with one effective audit tool?

The root cause of both highly publicized problems turned out to be antiquated software programs that the airline and agency rely on to keep flights moving. A SOC 2 Audit is designed to uncover deficiencies like these in systems, processes, internal controls, vendor management and other vital procedures – before it’s too late.

Don’t let your business assume unnecessary financial and reputational risk. Learn about Grassi’s SOC 1 and SOC 2 services and let our experienced auditors assess your readiness for a SOC audit and help you achieve a secure, low-risk operating environment.

Steve Gaskowitz Steve is an Audit Principal at Grassi and brings fourteen years of public accounting experience to the firm. He has extensive experience auditing services for the manufacturing, real estate, retail, technology, not-for-profit, governmental, and employee benefit plans industries. Prior to joining Grassi, Steve was the CFO of a nutraceutical manufacturing company on Long Island. During this time, Steve oversaw all accounting, payroll and HR... Read full bio

Categories: Advisory