An auditor is reviewing a client's use of a service organization for payroll processing. The auditor receives a Type 2 SOC 1 report. What does this report provide that a Type 1 report does not?

A description of the service organization's system.

Assurance that the controls are suitably designed.

Assurance on the operating effectiveness of the service organization's controls over a period of time.

An opinion on the fairness of the service organization's financial statements.