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SOC Audit Quality vs. Cost: What’s at Stake?

SOC Audit Quality vs. Cost: What’s at Stake?

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The Quiet Trade-Off

There’s a quiet calculus behind every audit decision—one that weighs cost against credibility, speed against scrutiny. For some, the allure of a low-cost SOC audit is hard to resist: it promises compliance at a fraction of the price. But beneath that surface lies a trade-off that’s rarely visible until it’s too late. A rushed audit, a missed control, a report that doesn’t hold up under user entity or user auditor review—these are the headaches that don’t show up on the initial invoice.

The Hidden Trade-Offs: What You Don’t See on the Quote Sheet

The difference between a thorough, high-quality SOC audit and a bare-minimum checklist isn’t just technical—it’s reputational, regulatory and strategic. A report that lacks depth may pass today’s review but falter under tomorrow’s scrutiny. When that scrutiny comes—from investors, regulators, prospective customers or partners—it’s not the price tag they’ll question, but the integrity of the process behind it.

Comparison: High-Quality vs. Low-Cost SOC Audits

FD’s ApproachLow-Cost SOC Audit Provider
Expertise & DepthLed by experienced auditors with deep cybersecurity and compliance expertise. Certified professionals go beyond checklists.Often performed by junior staff with limited credentials. Minimal testing and high risk of oversight.
Scope & RigorComprehensive scope with value-add insights. Reports strengthen security posture and regulatory trust.Narrow scope to reduce cost. Superficial findings that may not stand up to scrutiny.
Compliance CredibilityBacked by a reputable firm with global recognition and peer review success. Trusted by stakeholders.Limited name recognition. Reports may be questioned or rejected by users and user auditors.
Risks to Client Enhanced reputation and reduced compliance exposure.High risk of missed issues and reputational damage
Assessed ControlsCustom-defined for each organization. Highlights accurate parity between risks and controls.Templatized controls required by the auditor for the single purpose of audit speed.

The Risks Beneath the Surface

  • Compliance Gaps: A limited audit may miss critical security flaws, leaving your organization exposed.
  • Peer Review Failure: Firms without a peer review or non-complaint peer reviews can produce subpar audits. If the report is invalidated, you may need a costly re-audit.
  • Reputational Damage: If stakeholders discover your audit was done “on the cheap,” trust erodes. A breach post-audit raises questions about the audit’s integrity.
  • False Sense of Security: A clean report from a shallow audit is like a false bill of health. It may feel reassuring—until it isn’t.

FD’s Value Proposition

  • Regulatory Credibility: Our reports are respected by regulators and investors alike.
  • Global Recognition: As a PCAOB-registered firm, our audits meet high standards and reduce friction in due diligence.
  • Beyond the Checklist: We deliver insights that improve controls—not just compliance.

“As a SOC Peer Reviewer, I can identify when firms issue reports that do not meet quality standards. When service organizations issue low quality deliverables, there is a reduction in credibility with their customers and an increased risk of security concerns. At FD, we offer quality services focused on meeting user expectations while prioritizing security best practices,” says Gina Gondron, Partner and National Cyber Consulting Leader at FD.

Don’t Compromise on SOC Audit Quality

Audit decisions are strategic decisions. Choosing quality means choosing peace of mind, credibility and long-term trust. FD’s audit and advisory services are built to deliver all three. Let’s talk about how we can help you protect what matters most.

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Frazier & Deeter, LLC, is a US licensed CPA firm that provides attest services to its clients, and Frazier & Deeter Advisory, LLC, an alternative practice structure that provides tax and advisory services to clients worldwide. Frazier & Deeter Advisory, LLC and its subsidiaries are not a licensed US CPA firm.

Contributors

Gina Gondron, Partner, Frazier & Deeter Advisory, LLC
Partner, Frazier & Deeter, LLC

Andrew Hicks, Partner, Frazier & Deeter Advisory, LLC

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