SOC 2
SOC full form is System and Organization Controls which is an audit process of an organization which evaluate the operational controls that are in place to ensure security, processing integrity, availability. any services organization that provides services to other companies, needs to build trust and confidence in their services performed and these can only be provided with effective implementation, maintain and presentation of controls. an induvial third-party auditor is required to established that approval system after analysis of the organizations controls and practices in terms of security, integrity and confidentiality.
What is a SOC 2 Compliance?
With many organisations that are using cloud hosted applications, SaaS firms that provide computers and information technology services needs to establish Trust amongst its clients, SOX compliance is an important compliance requirement that establishes Trust Service Provider (TSP) control over data handling in terms of security, integrity, confidentiality, privacy, and availability of this information.
SOC 2 certification helps organisations that want to show that day comply to all the controls that are required as per Trust Service Criteria of SOC 2 compliance which is integrated with requirements of ISO 9001 and ISO/IEC 27001 certification requirements.
SOC I vs SOC II
Both SOC 1 and SOC 2 provide organisations with assessment on controls that it implements over its activities and system, both differ on the demands that the organisation has to comply during SOC certification. SOC 1 concentrates on the controls or internal control over financial reporting that majorly look at controls that safeguard the financial information of its clients and financial reporting of the organisation.
SOC 2 concentrates on the requirements of the organisations in terms of information security, integrity, confidentiality, privacy and availability off processing the customers data.
CertBureau helps all its clients to have the right awareness about the SOC 2 compliance required based on data handling and customer requirements. A special attention is provided to customization in each project that would benefit our customer to easily Implement, maintain and evaluate its controls during our support program.
What are requirements of SOC 2 certification?
Any organisation that is intending to implement and achieve Soc 2 compliance through SOC 2 audit must initiate policies that address collection of data for data privacy, internal controls such as screening of employees, data protection regulations, hosting security controls, development and testing environments security requirements and procedures that evidence the practise of the required trust service criteria as of SoC 2 that are going to be crucial as one of the requirements of SOC certification.
CertBureau has tested and proven methodology in implementing sock requirements for any organisation irrespective of their size, complexity of the services, location of the organisation. We are expertise in helping the organisation to start from scratch and comply to all the requirements of SOC 2 certification. CertBureau provides SOC 2 compliance services in many parts of the world with onsite and online implementation programmes design to achieve the required SOC compliance.
What is a SOC 2 Report? What is SOC 2 Compliance requirements?
SOC 2 compliance report or SOC 2 audit report provides evaluation description of your organisations control over SOC 2 Trust Service Criteria’s (TSC) that is a parameter that is used in SOC 2 compliance to know the effectiveness that you have set as an organisation over information and system.
The SOC 2 compliance report post SOC 2 audit is attested by an external auditor which is classified under third party audit recognised by American Institute of Certified Public Accountants (AICPA) auditor which provides your customers with an assurance on your organisations information integrity, security, confidentiality availability and other various data protection practised by the organisation.
Who needs SOC 2 Compliance? Who needs to prepare for SOC 2 Compliance?
The SOC 2 assessment is specifically made for companies who keep client information in the cloud. Thus, it will essentially apply to many cloud vendors and SaaS providers. To maintain business continuity, the SOC compliance framework also provides excellent security practices for data loss prevention, incident response, intrusion detection, unauthorized access, and other security problems.
Benefits of SOC 2 Compliance
Any organisation opting for soc 2 compliance or SoC 2 audit report reaps numerous benefits that help it to reach wider market and to showcase the required trust in demonstrating regulatory and legal compliance is, superior competitive edge, risk identification and management, participation of its employees in data security, enhancing internal controls on trust service criteria and provision of at most customer satisfaction in their services.
SOC 2 report offers several key benefits, and some are listed below:
Compliance: SOC 2 auditors or auditors report that are provided post validation demonstrates organisations achievement of compliance with data protection regulations as described in the standards and governments. The report that is provided post SOC 2 compliance achievement helps organisations to comply with all legal and regulatory requirements.
Trust: The SOC 2 certification portrays the commitment and implementation towards data security and data privacy, this in turn benefits the organisation by enhancing the trust factor that customers seek in their service providers.
Competitive Benefits: the organisations which are socked to compliant have bigger advantage in the market as they showcase strong data regulation and protection practises, this provides your customers assurance that their data handling and processing is standardised.
Monitoring: implementation can only be effective if we implement great monitoring controls, an organisation by understanding the required Trust Service Criteria’s (TSC) of SOC 2 certification helps asked to define the best monitoring practises through continuous audits and recording system.
Internal Controls: By implementing SOC 2 and ISO 27001 requirements in an organisation, it enhances internal controls over policies, procedures that are crucial for data security.
Higher Profitability: With SOC 2 certification that is implemented by the organisation it increases its profitability by reaching out to the larger market where in customers are willing to pay the right amount of service payments that ensure their data is safe.
Risk Management: with the implementation of required Soc 2 compliance the organisations identify the risks and mitigate them better than before, this decreases the likelihood and the effects caused due to data breaching or privacy incidents.