SOC2 Compliance

Overview : SOC2 Compliance

In 2013, the American Institute of CPAs published the SOC 2 (Service Organization Controls) standard. SOC 2 is a means of ensuring that service providers safely manage your data in order to preserve your company’s interests and the privacy of its clients. To safeguard consumer data, it is built on five principles: security, confidentiality, availability, integrity, and privacy. SOC 2 applies to technology-based SAAS organisations as well as third-party suppliers and other partners that must follow these requirements to ensure the integrity of the data.

Methodology

SOC 2 is a methodology for ensuring that all cloud-based technology and SAAS organisations have controls and procedures in place to protect customer data. SOC 2 attestation is provided by external auditors. Implementation can help you uncover the underlying anomalies in terms of the procedures and security controls that a company should have in place in order for its customers to have faith in them.

Type 1 SOC2 – A Type 1 report focuses on policies and procedures for ensuring Trust Service Criteria at a certain point in time. This means that an auditor will assess a company once on a set of criteria and controls to ensure that it meets specified control requirements.

Type 2 SOC2 – A Type 2 report is an internal controls report that details how a corporation protects client information and how well those controls are working. Independent third-party auditors produce these reports, which address the concepts of security, availability, confidentiality, and privacy.

Why do organization need it?

SOC 2 Compliance allows you to assess the effectiveness of your environment’s data management rules. SOC 2 is more trustworthy because it is an independent audit done by a third-party CPA company.

The Major benefits of SOC 2

More Controlled and consistent processes are being developed.
Soc 2 audit is a proactive approach to help avoid costly security breaches.
It provides assurance that your system and networks are secure.
SOC 2 report provides valuable insight into your organization’s risk and security posture, internal control governance and many more.

Our Approach

Policy Drafting

SOC2 specifies how to manage a customer’s data in accordance with five principles: integrity, confidentiality, availability, integrity, and privacy. To acquire SOC 2 certification, information security, access control, risk assessment, mitigation, incident policy, and other policies must be recorded.

GAP Assessment

The Gap Assessment procedure compares a company’s current security posture to industry standards and the SOC 2 framework. A gap analysis will prepare you for the SOC 2 procedure. It gives businesses the information they need, as well as ideas for controls that may be required to close gaps.

Implementation

This is to guarantee that all policies created are followed and implemented in the company, as well as to urge the client’s organisation to advance the reporting and attestation process. The results of these evaluations are used to categorise threats into different risk levels, allowing the client to take necessary action.

Auditing & Training

We will obtain SOC2 certification for your organisation once we have completed all of the preceding procedures. This will require a comprehensive examination of your company’s SOC standards to ensure that they meet the criteria of the standard. Audits are performed to gather information about the customer and the firm in order to identify areas that may need more attention. Type 2 reports often take longer to complete than Type 1 reports because they give evidence of how a firm runs its controls as specified in the control checklist over time.

Attestation

Finally, we will assist you in completing the SOC 2 attestation. This involves a thorough grasp of the different documentation requirements, as well as implementation validation. Your organisation is certified as a SOC2 TYPE 1 and Type 2 qualified company by the CPA (Chartered Public Accountant).

FAQs

What long does it take to certify to SOC 2?

Every firm has its own set of criteria, and SOC 2 is less predictable than other information security standards, which have a more regular timeframe for attestation. Some of the most significant factors to consider are the size and complexity of the organisation, as well as the cost and availability of a SOC 2 auditor.