SOC2 Audit and Attestation
Your Path to SOC2 Audit & Attestation
SOC Stands for Service Organization Controls, And Are Standards Designed to Assist Service Organizations Imparting Services To Their Clients And Customers. It Helps to Build Confidence and Trust Between The Entities And The Service Provider.
A SOC for Cybersecurity examination is how a CPA reports on an organization’s cybersecurity risk management program and verifies the effectiveness of internal controls to meet cybersecurity objectives, with the intention of giving stakeholders perspective and confidence in an organization’s cybersecurity risk management program.
SOC Assessment and Audit Reports Are Classified Depending On Their Usage and Service Controls.
SOC2
A SOC2 audit evaluates controls that directly relate to the AICPA’s Trust Services Criteria. This means that a SOC2 audit report focuses on a service organization’s internal controls as they relate to security, availability, processing integrity, confidentiality, and privacy of a system. The result? A SOC2 report validating the organization’s commitment to delivering high quality, secure services to clients.
- Type 1 Report: Reporting focuses on the suitability of the design of controls of a service organization and the related objectives on a specified date.
- Type 2 Report: Reporting focuses on the suitability of the effectiveness of controls of a service organization to achieve the related objective throughout the specified period.
Here are six reasons to obtain a SOC2 compliance report:
- Customer demand. Protecting customer data from unauthorised access and theft is a top issue for your clients, therefore you could lose business if you don’t have a SOC2 attestation (or a SOC 3 attestation, which employs the same audit but produces a report for public consumption).
- Cost-effectiveness. Do you believe audit fees are excessive? In 2018, the average cost of a data breach was $3.86 million, and this figure continues to climb year after year. A SOC2 audit is a preventative tool that can help you avoid expensive security breaches.
- Advantage in the marketplace. Having a SOC2 report on hand gives your company an advantage over competitors who are unable to demonstrate compliance.
- Mindfulness. Passing a SOC2 audit ensures the security of your systems and networks.
- Regulatory adherence. Because the requirements of SOC2 align with those of other frameworks such as HIPAA and ISO 27001, achieving certification can help your company’s overall compliance efforts.
- Value. A SOC2 report may tell you a lot about your company’s risk and security posture, vendor management, internal controls governance, regulatory monitoring, and other things.
Clients We Worked With
Contact us to start your SOC2 journey.
Our experienced team of SOC2 Implementers will guide you, step-by-step, through the ins and outs of becoming compliant.
Our Approach To SOC2 Audit And Attestation
Scope Definition
Understand your business operations, controls, and systems to define the scope and the Trust Services Criterion that apply to your organization.
Gap Analysis
Assess your organization vis-à-vis the SOC2 standard to identify areas that need to be addressed.
Awareness Training
Conduct a brief Awareness Training program on SOC2 for your organization
Asset Inventory
Identify your critical information assets and accordingly classify them for creating a separate Asset Inventory.
Risk Assessment
Conduct a comprehensive Risk Assessment to identify weak areas and loopholes that could impact the business-critical assets of your organization.
Risk Treatment
Our experts rank the risks identified and accordingly help you strategize appropriate Risk Treatment measures.
SOC2 Document Set
Create the policy and procedure document set with inputs and validation acquired from your team.
Remediation support
Our process and Tech team will work in collaboration with your team to help you in the policy rollout.
User Training
User Training program for all personnel covered in scope on their specific responsibilities. We will provide your team with all the training documents.
Pre-assessment
After a reasonable gestation period, a separate team of experts conducts a Pre-assessment of your setup and measures implemented.
Attestation
Once all controls are confirmed to be in place, our US-based CPA Auditor will audit your processes to confirm adherence to the SOC2 requirements.
Continual Support
If required, we can extend our continual support by offering you Managed Compliance Services to help your organization stay certified.
