SOC 2 Compliance Audit Services
Intelligence Driven Cyber Security Operations
SOC 2 COMPLIANCE AUDIT
The SOC2 Audit is a comprehensive report that outlines the internal controls, practices, and procedures of a service organization, aligned with the Trust Service Criteria (TSC) set forth by the AICPA. This report certifies the effectiveness and appropriateness of the organization’s protection, availability, processing integrity, confidentiality, and privacy controls. It serves as an essential tool for clients when selecting a service organization to work with.
SOC2, also known as Service Organization Control 2, is a compliance audit that evaluates a service organization’s systems and processes against the TSC defined by the AICPA. This assessment is performed by an independent third-party auditor and offers stakeholders confidence that the organization maintains adequate controls to safeguard the security, availability, processing integrity, confidentiality, and privacy of the data it handles or stores for its clients.
SOC 2 compliance is synonymous with achieving SOC 2 certification, which requires meeting the minimum requirements of the principles defined by the Trust Services Criteria (TSC):
- Security
- Availability
- Processing Integrity
- Confidentiality
- Privacy
The benefits of SOC 2 security compliance include improved internal and external communication, oversight, customer retention, and more efficient audits.
It’s important to note that there are two types of SOC 2 reports:
- SOC 2 Type I: This report evaluates the design and existence of controls at a specific point in time.
- SOC 2 Type II: This report assesses the design, existence, and operating effectiveness of controls over a specific period, typically a minimum of six months.
SOC 2 compliance audit helps service organizations demonstrate their commitment to data security and privacy to their customers, vendors, and business partners.
A SOC 2 audit reveals details about the state of an organization’s compliance with the TSC principles. This information helps ensure that the data the organization handles remain protected in both cloud and non-cloud infrastructures, and it is also a necessary step in achieving and maintaining SOC 2 compliance.
A SOC 2 report is suitable for organizations such as cloud service providers (SaaS, IaaS, PaaS), enterprise systems storing third-party data, IT systems management, and data center colocation facilities. It communicates that the organization’s controls are well-designed, implemented, and operating effectively. Obtaining a SOC 2 report demonstrates to clients that reliable services are delivered, enhancing trust and transparency with stakeholders. It also reduces compliance costs, minimizes on-site audits, and ensures proper risk mitigation through well-implemented controls. SOC 2 compliance helps meet auditing requirements effectively.
A SOC 2 report is crucial for most service organizations, driven by business considerations if not legal requirements. It applies to a wide range of service providers, including:
- Providers of Software as a Service (SaaS) solutions.
- Business management, intelligence, and analytics services.
- Financial or accounting services.
- Customer- and client-facing services.
- Managed security and IT services.
Obtaining a SOC 2 report is a strategic decision for these organizations as it helps build trust with clients and enhances their competitive edge in the market.
Risk Advisory
Our approach to SOC2 COMPLIANCE AUDIT
Scope Identification
We conduct a preliminary company analysis better to understand the business processes, controls, and system, and then narrow the scope accordingly
Risk Assessment
The process evaluates an organization’s information systems and data handling practices against the Trust Services Criteria defined by the AICPA. It identifies potential risks related to security, availability, processing integrity, confidentiality, and privacy of data.
Control Identification and Testing
Our team identifies the controls that are in place to address the identified risks and meet the Trust Service Criteria (TSC). Also evaluate the effectiveness of the controls by conducting various testing procedures, such as inquiry, observation, and examination of evidence.
Gap Analysis
Our consultants compare the identified controls with the TSC requirements to identify any gaps or deficiencies that need to be addressed.
Risk Treatment
Our team addresses any flaws in the controls identified during the audit process.
Assistance with documentation
We prepare the SOC 2 compliance audit report, which includes the scope of the audit, description of controls, testing results, identified issues, and management’s response to any identified deficiencies
Distribution of Report
Provide the SOC 2 compliance audit report to relevant stakeholders, such as customers, partners, and regulatory bodies, to demonstrate compliance and transparency.
Ongoing Monitoring
Our Team Constantly monitor and update controls to maintain SOC 2 compliance and address any changes in the organization’s systems or processes