SOC 2 Compliance Audit

As per AICPA guidelines SOC 2 report is intended to meet the needs of a broad range of users (user entity) that need detailed information and assurance about the controls at a service organization relevant to security, availability, and processing integrity of the systems the service organization uses to process users’ data and the confidentiality and privacy of the information processed by these systems.

 

In short, the goal of SOC 2 Audit is to assess the processes or systems which manage or process customer data in such a way that they ensure the security, availability, processing integrity, confidentiality, and privacy of the user entities’ provided services.

Who should go for SOC 2 compliance?
SOC 2 applies to technology-based service organizations that keep client’s customer information on the cloud or used cloud based solutions to process the customer data. So, if any organization uses cloud solutions such as cloud based CRM, Salesforce solutions etc. which are generally based on SAAS cloud platform then these service organizations should adhere to SOC 2 compliance.

There are two types of SOC 2 reports:

 SOC 2 - Type I report on the fairness of the presentation of service organization management’s description of the system and the suitability of the design of the controls to achieve the related control objectives included in the description as of a specified date

 SOC 2 Type II report on the fairness of the presentation of service organization management’s description of the system and the suitability of the design and operating effectiveness of the controls to achieve the related control objectives included in the description throughout a specified period.

Generally SOC 2 reports cover one year period, but there are times when service organizations may need to conducts this audit every six months, depending on the client’s requirements. The Accorp Partners help in providing Auditing SOC 1 and SOC 2 audit to companies. A service organization will have to demonstrate (and document) that they have adequate policies and controls in place to achieve the selected trust service principles and the IT and process Controls that address the related Criteria should be properly designed and implemented.

Our vast experience with different industry verticals and commitment to enterprise-grade security, availability, and performance is a reason why many leading software companies and service organizations rely on Accorp to help them enhance their service experiences and client’s confidents.

Should Start-ups or Medium size companies go for SOC 2 compliance ?

It is normally seen that start-ups and medium sized companies at their early stage have neither the budget nor the zeal to undergo such an endeavour, so they thought that they should wait until the company get large and get more established.

But I think this is not a right approach, even the real benefit is to start with the SOC 2 compliance process as early as possible. When you get your company compliance and certified then it will becomes easier to get regulated industries, banks, Fintech or these types of organizations to work with you as customers or partners. This compliance will give them comfort to rely on your security and process controls and do business with start-ups or medium sized organizations.