SOC 2 Compliance

In today’s interconnected digital landscape, the protection of sensitive information is non-negotiable. While not akin to traditional management systems such as ISO standards, SOC 2 holds immense significance, especially for entities operating in technology, finance, and healthcare spheres. Through SOC 2 examinations, companies showcase their dedication to fortifying data protection measures and upholding a standard of trust and accountability.

Let’s embark on this illuminating journey through the realm of SOC 2 compliance together.

What is SOC 2 Compliance?

SOC 2 (System and Organization Controls 2) is a widely recognised auditing standard developed by the American Institute of Certified Public Accountants (AICPA). It is instrumental in fortifying the security posture of service organisations. At its core, SOC 2 audits scrutinise an organisation’s controls and procedures concerning security, availability, processing integrity, confidentiality, and privacy.

While not akin to traditional management systems such as ISO standards, SOC 2 holds immense significance, especially for technology, finance, and healthcare entities. Like ISO 27001, SOC 2 holds global recognition, becoming a hallmark of trust in an era of information security risks. Today, businesses prioritise engagements with accredited entities as they find solace in the robust controls governing data and information. Holding SOC 2 certification thus confers a competitive edge, as adherence to its standards mitigates the financial toll of cybersecurity incidents and threats.

The benefit of SOC 2 Compliance

Integrating SOC 2 compliance into your business practices can significantly enhance the robustness and efficiency of your information security protocols. Key advantages of SOC 2 compliance encompass:

Elevated reliability and safeguarding of data and information assets
Enhanced risk management frameworks to effectively address security threats
Mitigated risk of non-compliance with data security regulations
Diminished exposure to penalties, fines, and reputational damage stemming from security breaches
Alignment with legislative and regulatory mandates governing data protection
Access to new markets that demand stringent data security standards
Augmented stakeholder confidence, including customers, employees, suppliers, and investors

What are the SOC 2 requirements?

While the specific requirements can vary based on the nature of the organisation and its services, there are some common elements (known as trust service criteria) typically covered in a SOC 2 audit:

Security: The organisation must implement adequate security measures to protect against unauthorised physical and logical access to its systems and data.
Availability: The organisation’s systems and services must be available for operation and use as agreed upon in the service level agreements (SLAs) or customer contracts.
Processing Integrity: The organisation must ensure that its systems process data accurately, completely, and promptly.
Confidentiality: The organisation must maintain the confidentiality of customer data throughout its life cycle, including collection, storage, processing, and transmission.
Privacy: The organisation must comply with applicable privacy laws and regulations regarding the collection, use, retention, disclosure, and disposal of personal information.

Organisations typically undergo a SOC 2 audit conducted by an independent third-party auditor to demonstrate compliance with these requirements. The audit evaluates the design and operating effectiveness of the organisation’s controls related to the specified trust service. Upon successfully completing the audit, the organisation receives a SOC 2 report that assures customers and stakeholders of the effectiveness of its controls.

How Can We Assist You?

Gap Assessment

We offer this service to organisations that have existing documents including policies, procedures, manuals, forms, handbooks, etc. and would like to check if the existing documents meet the requirements of the desired standards and what they need to do to certify the system.

System Development

We offer this service to organisations that do not have any existing system (documents) including policies, procedures, manuals, forms, handbooks, etc. or the gap assessment shows that their existing system needs to improve to meet the requirements of the desired standard.

Implementation

A Management system should be documented and implemented to meet the requirements of the desired standards. We will supervise and guide our clients during the Implementation of the management while they follow the policies and procedures and use the forms.

Internal Audit

An annual internal audit is required to get certified and maintain the ISO certificates. We offer this service to organisations that do not have the internal resources to conduct the internal audits or would like to have a new pair of eyes to detect the opportunities for improvements.

Attending External Audit

Dealing with the external auditor might be quite stressful and challenging for the organisations, particularly for the ones that are willing to certify their system for the first time. We will attend the external audit and assist them as a facilitator for a better and smoother experience.

Ongoing Maintenance

Once the organisations achieve their certificate, they will face a new challenge for maintaining what they have achieved as every year the certification body comes back for a surveillance audit. We offer this service to draw their attention to what they might miss in the routines.

ISO Standards SOC 2 – Information Security Framework

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