To earn the trust of the clients they work with, as well as of potential clients, companies should demonstrate that they have policies and procedures in place that ensure the client’s information will be treated with appropriate care. A way to show that your company meets the requirements of serving organizations that care about keeping data secure is through Service Organization Controls Type 2 (SOC 2) attestation.
To prove that your business protects sensitive information using best practices for cybersecurity, you can undergo SOC 2 attestation.
What Is SOC 2 Attestation?
SOC 2 Attestation is a formal evaluation by a third party that examines controls at a service organization. The SOC 2 attestation framework assesses areas of data security, access control, and resilience. Once the attestation is completed, service organizations can supply the report to potential customers and business partners as proof of trustworthiness. With SOC 2 Attestation, a licensed third-party auditor gives a professional opinion on the state of your internal controls.
Why Does SOC 2 Attestation Matter?
SOC 2 Attestation is important because, before agreeing to work with your company, customers may request a SOC 2 report that supports your adherence to the framework. Customers and business partners often exercise due diligence by asking that the service providers they work with undergo security reviews and meet the requirements of their business.
For example, ISOutsource worked with Marketbridge, a B2B marketing consultant for financial services firms and insurance agencies that required an SOC 2 Attestation. The eventual SOC 2 Attestation helped streamline sales and Request for Proposal (RFP) processes.
What Does SOC 2 Evaluate?
SOC 2 Attestation measures data protection controls against Trust Services Criteria (TSC), five areas defined by the American Institute of Certified Public Accountants (AICPA).
1) Security
Security controls set a mandatory baseline for protecting systems against unauthorized access.
2) Availability
Availability requirements ensure systems operate seamlessly.
3) Processing Integrity
Integrity assessment confirms that system processing is complete, accurate, and valid.
4) Confidentiality
Confidentiality measures ensure sensitive data is kept secure while at rest or in transit.
5) Privacy
Privacy measures control how personal information is gathered and used.
The TSC included in a SOC 2 Attestation varies depending on the engagement with the external auditor. ISOutsource can help you to select the applicable trust service criteria that best fit your organization.
Who Should Consider SOC 2?
Service organizations should consider SOC 2 Attestation because the report provides potential customers and business partners with information about your controls. Companies that offer Software as a Service (SaaS) or managed IT services may benefit from receiving SOC Attestation. However, SOC Attestation is not a requirement for every business or service organization.
How to Prepare for SOC 2
Preparing for SOC 2 is crucial for ensuring the best possible outcome. At ISOutsource, we include pre-audit evaluations, planning, and checklists in our SOC Consulting services.
Determine the Scope
Identify which systems, services, and workflows handle sensitive customer information, while distinguishing between production and non-production environments.
Identify and Address Gaps
Compare current policies, controls, and technical defenses with SOC 2 requirements to find missing controls.
Prepare Documentation and Evidence
Gather access logs, configuration backups, and training records to prove your controls function in practice.
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How Can an Organization Prepare for SOC 2 Attestation?
Your organization can prepare for SOC Attestation using a checklist:
- Understand the need
- Determine scope
- Identify criteria
- Assess controls
- Identify gaps
- Address gaps
- Organize documentation and evidence
Finding a SOC 2 Consulting Partner
SOC 2 attestation matters because organizations need to demonstrate alignment with relevant controls, including those for GRC. Attestation preparation can identify areas that need improvement.
Working with a SOC 2 consulting partner helps your company prepare for attestation. As a managed IT service provider that offers GRC Consulting as part of our IT Consulting Services, ISOutsource can deliver readiness assessment, gap identification, remediation, documentation, and audit preparation for SOC 2. We include SOC 2 support in our GRC services and serve as a liaison between auditors and your company.
Talk with ISOutsource about your SOC 2 and GRC needs.