SOC 1 Compliance is a gateway for small to medium-sized companies, empowering them to confidently serve larger organizations.

In an era where businesses increasingly seek cost-effective solutions through outsourcing critical functions, SOC 1 Compliance emerges as a strategic imperative. This move is not just about cost management; it's a deliberate effort to free up in-house staff, allowing them to focus on more impactful projects.

As business functions and data shift to third-party providers, risks like data theft, extortion, and potential liability in case of a breach come into play. The challenge is to uphold reputation, integrity, and customer data security while reaping the benefits of outsourcing.

The SOC 1 audit holds a pivotal role in providing assurance to businesses engaged in critical processes. It evaluates and ensures that the policies and processes implemented by service organizations safeguard client data during transmission, storage, and management. The audit focuses on controls that guarantee system and data availability, signifying a commitment to meeting a heightened level of trust criteria.

What is SOC 1 Compliance?

SOC 1 compliance is a prestigious designation granted to organizations successfully navigating the SOC 1 auditing procedure. This audit, conducted by impartial external auditors, was established by the American Institute of CPAs, or AICPA.

To achieve SOC 1 attestation, a service organization must adhere to the following five trust service principles:

Security: Information and systems are safeguarded against unauthorized access, unauthorized disclosure, and any harm that could compromise availability, integrity, confidentiality, and privacy, affecting the entity’s ability to meet its objectives.

Confidentiality: Information marked as confidential is protected to align with the entity’s objectives.

Processing Integrity: System processing is complete, valid, accurate, timely, and authorized to fulfill the entity’s objectives.

Availability: Information and systems are accessible for operation and use, aligning with the entity’s objectives.

Privacy: Personal information is collected, used, retained, disclosed, and disposed of in accordance with the entity’s objectives.

Understanding the Difference Between SOC 1 Type 1 and

SOC 1 Type 2 Audit

SOC 1 Type 1 vs SOC 1 Type 2

SOC reports, established by the AICPA (American Institute of CPAs), come in two types for service providers: Type I and Type II. Both evaluations scrutinize the controls aligned with five trust service principles—security, availability, process integrity, confidentiality, and privacy. The primary distinction between SOC 1 Type 1 and SOC 1 Type 2 is that Type 1 is a point-in-time audit, while SOC 1 Type 2 covers a period (3 months to 1 year). In essence, SOC 1 Type 1 is generally more straightforward for organizations with tight timelines, whereas SOC 1 Type 2 demands the demonstration of controls' operational effectiveness over the entire audit period.

SOC 1 Type I Overview

The SOC 1 Type I audit examines a company's internal controls for managing customer data based on five trust service principles as of a specific calendar date. It also ensures the appropriate design of those controls to meet the service provider’s objectives. Think of Type I as capturing a snapshot in time.

SOC 1 Type II Overview

While the SOC 1 Type I audit focuses on controls in operation as of a specific date, the SOC 1 Type II audit delves deeper into assessing the operational effectiveness of those controls. This involves scrutinizing whether they performed as intended over a designated period, ranging from 3 consecutive months up to 1 year.

The Advantages of SOC 1 Compliance

SOC 1 Type I and Type II compliance provide a competitive edge to companies like SaaS providers, data centers, managed service organizations, and banking and financial firms. SOC 1 certification signifies a commitment to data security, demonstrating a willingness to undergo an independent audit to prove it.

How we help achieve SOC 1 Compliance

Our SOC 1 compliance services encompass three key areas: SOC 1 gap assessments, short-term audit support, and a comprehensive SOC 1 management program. Some organizations may opt for a quick gap assessment to identify any lacking controls, while others prefer our compliance consultants to manage the entire SOC 1 process. Whether you require our assistance year-round or for a brief period, Cyber Security Services is your partner for all SOC 1 compliance needs. We possess the expertise to implement technical, administrative, and physical security controls essential for SOC 1 compliance. Unlike merely identifying missing elements, our team actively addresses control gaps, ensuring your success in achieving SOC 1 compliance.

SOC 1 Compliance Services

SOC 1 compliance is an esteemed designation offered to organizations that pass the SOC 1 auditing procedure. This audit is conducted by outside, impartial auditors and was developed by the American Institute of CPAs, or AICPA.

To earn SOC 1 attestation, a service organization must meet the following five trust service principles.

1. SOC 1 GAP Assessment

The SOC 1 GAP Assessment process is crafted to identify potential vulnerabilities that may result in findings during the AICPA SOC 1 audit. This evaluation aims to document any control issues, expediting their resolution before the audit commences. Whether you're undergoing a SOC 1 Type I or Type II audit, we can help you prioritize controls for compliance.

2. SOC 1 Audit Assistance

Collecting evidence for the SOC 1 audit can be time-consuming for your team. Our specialized program is tailored to streamline the evidence collection process, typically spanning a few weeks distributed across the audit period. We act as your representative during both onsite reviews and offsite document requests throughout the entire period. With our extensive experience conducting numerous audits annually, we have a deep understanding of auditor requirements to meet the controls, ensuring a seamless process from beginning to end.

3. SOC 1 Complete Management and Outsourcing

Our program facilitates continuous collaboration with your team throughout the audit period to fulfill all control objectives. This involves documenting existing procedures and creating new ones as needed. Our SOC 1 compliance consultants at Cyber Security Services will be actively engaged with you, swiftly resolving any missing controls. Our security experts cover a range of control requirements, such as firewall and physical security reviews, policy development, user access reviews, HR procedures, business continuity plan development, and assistance with security log monitoring. Essentially, it's like having an additional dedicated member on your security team focused on meeting SOC 1 objectives. Our comprehensive program assigns an on-demand, part-time consultant to your organization, providing support every step of the way throughout the year.

SOC1 Compliance