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SOC 2
The SOC 2 (Service Organization Control 2) compliance framework is a widely recognised standard and the most accepted cybersecurity and compliance framework designed to ensure that service providers securely manage and protect customer data. SOC 2 certification is a must have requirement if your company is a start up or growing and wants to do business with enterprise buyers.
SOC 2 focuses on control effectiveness in areas such as security, availability, processing integrity, confidentiality, and privacy within service organizations. SOC 2 Type 1 Consultancy and SOC 2 Type 2 Consultancy assist in preparing for SOC 2 readiness. These assessments provide clients and stakeholders with information about the reliability, security, and privacy of services offered by these organisations.
Certified Public Accountants (CPAs) conduct audits based on AICPA guidelines, resulting in either Type 1 or Type 2 Certification. Type 1 Certification assesses the design and implementation of controls at a specific point in time, while Type 2 Certification evaluates the effectiveness of those controls over a period, typically six months or more.
SOC 2 assessment reports, generated from these audits, provide assurance to stakeholders, particularly those utilizing outsourced software that stores customer data online. These reports demonstrate the organization’s adherence to protecting data integrity and confidentiality. SOC 2 Compliance indicates reliability and trustworthiness, emphasizing the organization’s commitment to maintaining strong controls and security.
OVERVIEW:
SOC 2 compliance is based on the Trust Services Criteria (TSC), which include:
Security: Protecting systems and data from unauthorised access.
Availability: Ensuring systems are operational and accessible as agreed.
Processing Integrity: Guaranteeing that data processing is accurate, timely, and complete.
Confidentiality: Safeguarding sensitive information from unauthorised disclosure.
Privacy: Managing personal data in accordance with privacy policies and regulations.
Benefits of Service Organization Controls
Risk Assessment:
Start with a thorough risk assessment to identify potential vulnerabilities and threats to your systems.
Implement Controls:
Establish controls and policies for the identified risks, including access controls, encryption, and regular monitoring.
Documentation:
Document your processes, policies, and controls. This documentation will be crucial during the audit process.
Official Audit:
A third-party auditor should be engaged to perform the SOC 2 audit. They will evaluate your controls, policies, and compliance with the trust service criteria.
WHY OUR CUSTOMERS LOVE OUR SERVICES
We identifying and address potential security gaps early, to help our clients mitigate risks and avoid costly data breaches or compliance failures.
We streamline the often complex and time-consuming SOC 2 compliance process, providing expert guidance, tailored solutions, and clear roadmaps to achieve certification.
Flexible pricing and plans that support their goals and timeline.
Frequently Asked Questions:
SOC 2 (Service Organization Control 2) compliance is a framework established by the American Institute of Certified Public Accountants (AICPA) for evaluating and reporting on the security, availability, processing integrity, confidentiality, and privacy controls implemented by service organizations. It offers assurance to clients and stakeholders regarding the efficacy of these controls in safeguarding their data and ensuring the reliability of services.
Any service organisation responsible for processing or storing sensitive customer data on behalf of its clients can benefit from SOC 2 compliance. This encompasses cloud service providers, data centers, software as a service (SaaS) providers, managed service providers, and other entities entrusted with handling client information.
The Trust Service Criteria (TSCs) for SOC 2 compliance encompass security, availability, processing integrity, confidentiality, and privacy. These criteria form the basis for assessing the effectiveness of controls implemented by service organisations to protect client data and ensure the dependability of their services.
SOC 2 compliance is evaluated through independent audits conducted by certified public accountants (CPAs) or audit firms. During the audit, the auditor assesses the design and operating effectiveness of controls based on the Trust Service Criteria (TSCs). After completing the audit, the service organization receives a SOC 2 report outlining the results of the evaluation.
A SOC 2 report includes an auditor’s assessment of the suitability of the design and effectiveness of controls, along with descriptions of the organisation’s control environment, control objectives, and testing procedures. There are two types of SOC 2 reports: Type I reports examine the design of controls at a specific point in time, while Type II reports evaluate the effectiveness of controls over a specified period.
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