5 Step Guide to Getting SOC 2 Certification

A SOC 2 audit may appear menacing, but corporates can take action to create the method easier and efficient. Many businesses and startups are familiar with the word “audit” and hold—even the plan of an audit demands the number of hours following down filing and digital verification, making company alterations, and many days of work. While a SOC audit may come across as overwhelming at the start, companies can take action to build the process aerodynamic, smooth, and effective.

One of the most normal audits that service companies use is a (System and Organization Controls) SOC 2 audit, which targets to make sure that the company workers have ample controls to maintain customer data and information. Fulfilling the AICPA’s (American Institute of Certified Public Accountants) SOC 2 processes can look a bit distinct for every company, and businesses must gain a report from a Certified Public Accountant company like Accorp Partners to document the evidence. We have discussed five major steps to begin the SOC 2 audit compliance.

What is SOC 2?

SOC 2 is one of the most in-demand standards in safety and consent. SOC audit encircles everything from how you manage your internal systems, to HR activities like operating job interpretation and enlisting new employees.

SOC 2 displays the highest level of greatness in systems and management control. A company can go after SOC 2 certification in many areas of their company– Safety & Security, Availability, Processing Authenticity, Confidentiality, and Privacy. In SOC 2 Audit, these terms are known as trust factors.

There are two types of SOC Reports:

SOC Type 1 Audit describes a trader's management and whether their structure is appropriate to match relevant trust factors.

SOC Type 2 Audit features the operational success of those managements.

SOC 2 Certification

SOC 2 certification is provided by external accountants or bookkeepers. They examine the area to which a trader follows with one or more of the five trust factors based on the operations and processes in the company.

Trust aspects are mentioned below as follows:

1. Security

The security factor is all about the safety of management information and resources against the unsanctioned attempt. Access controls assist in stopping potential system exploit, threat or unauthorized deletion of data, dissipate of the operating system, and unbalanced change or revealing of company's information.

IT safety and security tools such as network and WAFs, two-factor verification, and withdrawal observation are beneficial in averting security threats that can process uncertified access of data and information.

2. Availability

The availability factor led to the readiness of the system, goods, or services as specified by an agreement or SLA. As such, the least acceptable performance standard for system accessibility is fixed by both associations.

This aspect does not direct system features and advantages, although, does involve safety and security-related processes that may influence accessibility. Operating network usability and availability, site redundancy and security event handling are expository in this condition.

3. Processing Integrity

The processing integrity factor directs whether or not management gains its objective (i.e., delivers the right information at a suitable price at the best time). Therefore, data processing must be finished, reasonable, perfect, promptly, and recognized.

But processing integrity does not importantly infer data robustness. If data accommodate issues before being input into the management, finding them is not generally the accountability of the processing system. Operating of information processing, integrated with standard assurance processes, can assist ensure processing integrity.

4. Confidentiality

Data is contemplated sensitive if its right and revelation are limited to an identified group of individuals or companies. Cases may involve data deliberated only for firm personnel, as well as business ideas, conceptual property, private price lists and other kinds of confidential financial processes.

Data encryption is a significant operation for preserving confidentiality while data transfer. Network and application firewalls, together with diligent controls, can be used to protect data being handled on operating systems.

5. Privacy

The privacy principle defines the system’s accumulation, advantages, detention, revelation and disposal of individual information in resemblance with a company's private information, as well as with the process described in the AICPA’s generally accepted privacy principles (GAPP).

Some individual information related to well-being, race, gender and caste is also observed sensitive and normally needs an extra defense.

Getting Started on SOC 2 Compliance

Companies starting the SOC 2 audit and SOC 1 Type 1 Type 2 Audit process for the initial time will come out with the five principles above. By considering and managing controls, acquiring into form internally with regard to terms and procedures, getting ways to brutalize the audit procedure, and joining groups with a genuine partner, the company or organization will get SOC 2 certification, get in touch with the Accorp Partners accountants to consult about your business.