SOC 2 Compliance

Overview : SOC 2 Compliance

Service Organization Control Type 2 was introduced by AICPA (American Institute of CPAs) in 2013. It is a method for guaranteeing that service providers safely manage your data to protect your company’s interests and its clients’ privacy. SOC 2 is constructed around five principles to secure consumer data: security, confidentiality, availability, integrity, and privacy. SOC 2 applies to technology-based SaaS companies as well as third-party vendors and other partners who must adhere to these standards to assure the data’s integrity.

Methodology

SOC 2 is a framework for guaranteeing that all cloud-based technology and SAAS firms have controls and policies in place to ensure client data privacy and security. External auditors offer SOC 2 attestation. Implementation will assist you with identifying the underlying abnormalities in terms of the procedures and security controls that a firm should have in place for its consumers to have confidence in them.

SOC 2 Type 1 – A Type 1 report focuses on policies and procedures for ensuring Trust Service Criteria at a certain point in time. This means that an auditor will assess a company once on a set of criteria and controls to ensure that it meets specified control requirements.

SOC 2 Type 2 – A Type 2 report is an internal control report that details how a corporation protects client information and how well those SOC 2 controls are working. Independent third-party auditors produce these reports, which address the concepts of security, availability, confidentiality, and privacy.

Why do organization need it?

SOC 2 Compliance enables you to determine how effective the controls managing data in your environment are. Because it’s an independent audit completed by a third-party CPA firm, SOC 2 is more reliable.

The Major Benefits of SOC 2

  • More Controlled and consistent processes are being developed.

  • Soc 2 audit is a proactive approach to help avoid costly security breaches.

  • It provides assurance that your system and networks are secure.

  • SOC 2 report provides valuable insight into your organization’s risk and security posture, internal control governance and many more.

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