Businesses are increasingly seeking cost-effective solutions by outsourcing critical functions, not only for cost management but also to relieve in-house staff, allowing them to concentrate on more significant projects. However, the shift of business functions and data to third-party SaaS or cloud providers introduces risks like data theft, extortion, and potential liability in case of a breach. The challenge is to safeguard reputation, integrity, and customer data security while enjoying the advantages of outsourcing.
The SOC 2 audit plays a crucial role in providing assurance to businesses utilizing cloud or SaaS services. It is a compliance standard that assesses the policies and processes implemented by service organizations to safeguard client data throughout its transmission, storage, and management in the cloud. The audit ensures the presence of controls that guarantee system and data availability. Achieving SOC 2 compliance signifies that service organizations meet a heightened level of trust criteria.
SOC 2 compliance is an esteemed designation offered to organizations that pass the SOC 2 auditing procedure. This audit is conducted by outside, impartial auditors and was developed by the American Institute of CPAs, or AICPA.
Security: Information and systems are protected against unauthorized access, unauthorized disclosure of information, and damage to systems that could compromise the availability, integrity, confidentiality, and privacy of information or systems and affect the entity’s ability to meet its objectives.
Confidentiality: Information designated as confidential is protected to meet the entity’s objectives.
Processing integrity: System processing is complete, valid, accurate, timely, and authorized to meet the entity’s objectives.
Availability: Information and systems are available for operation and use to meet the entity’s objectives.
Privacy: Personal information is collected, used, retained, disclosed, and disposed of to meet the entity’s objectives.
SOC reports, short for Service Organization Control, were designed by the AICPA. There are two types of SOC 2 audit reports that a service provider can obtain, Type I and Type II. Both analyze the same controls that a service organization has in place to adhere to five trust service principles, specifically security, availability, process integrity, confidentiality, and privacy. The primary difference between complying with SOC 2 Type 1 vs SOC 2 Type 2 is that Type 1 is a point in time audit where SOC 2 type 2 is an audit period over a period of time (3 months to 1 year). In short, the SOC 2 Type 1 is typically the easier to meet for organizations with short timelines to meet the requirements. The SOC 2 Type 2 being over a period of time means that controls will need to be demonstrated for the entire period of the audit.
The SOC 2 Type I audit investigates that a company has internal controls in place for managing customer data based on five trust service principles as of a specified calendar date. It also looks to ensure those controls are designed appropriately to meet the service provider’s objectives. You can think of Type I as a snapshot in time.
While the SOC 2 Type I audit investigates that a company has controls in operation as of a specified date, the SOC 2 Type II audit delves further to investigate the operational effectiveness of those controls—assessing whether or not they performed as promised over a period of time spanning from 3 consecutive months up to 1 year..
SOC 2 Type I and Type II compliance gives companies like SaaS providers, data centers, managed service organizations, banking and financial firms a powerful advantage over their competition. SOC 2 certification demonstrates that you value data security and have gone the extra mile—passing an independent audit to prove it.
Our SOC 2 compliance services encompass three key areas: SOC 2 gap assessments, short-term audit support, and a comprehensive SOC 2 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 2 process. Whether you require our assistance year-round or for a brief period, Cyber Security Services is your partner for all SOC 2 compliance needs. We possess the expertise to implement technical, administrative, and physical security controls essential for SOC 2 compliance. Unlike merely identifying missing elements, our team actively addresses control gaps, ensuring your success in achieving SOC 2 compliance.
SOC 2 compliance is an esteemed designation offered to organizations that pass the SOC 2 auditing procedure. This audit is conducted by outside, impartial auditors and was developed by the American Institute of CPAs, or AICPA.
The SOC 2 GAP Assessment process is crafted to identify potential vulnerabilities that may result in findings during the AICPA SOC 2 audit. This evaluation aims to document any control issues, expediting their resolution before the audit commences. Whether you're undergoing a SOC 2 Type I or Type II audit, we can help you prioritize controls for compliance.
Collecting evidence for the SOC 2 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.
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 2 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 2 objectives. Our comprehensive program assigns an on-demand, part-time consultant to your organization, providing support every step of the way throughout the year.