SOC2 Compliance is a set of standards and guidelines set by the American Institute of Certified Public Accountants (AICPA) to ensure the security, availability, processing integrity, confidentiality, and privacy of sensitive data within organizations. It is an assurance that companies are taking the necessary measures to secure their systems and data against unauthorized access, manipulation, and breaches.
The ISO/IEC 27001 standard outlines a six-step methodology for establishing, implementing, maintaining, and continually improving an information security management system (ISMS). These steps are:
Conduct a thorough assessment of the organization's current information security practices to identify any gaps or weaknesses.
Develop a comprehensive plan for achieving SOC 2 compliance that takes into account the organization's specific needs and requirements
Implement the necessary controls and processes to meet the SOC 2 standards, including physical and technical security measures, access controls, data protection practices, and incident response planning.
Monitoring and Maintenance:
Regularly monitor and review the effectiveness of the SOC 2 controls and make any necessary improvements.
Provide regular reports to stakeholders, including customers and regulatory bodies, to demonstrate ongoing compliance with the SOC 2 standards.
This involves defining the scope of the SOC 2 assessment, identifying the SOC 2 Trust Services Criteria that the organization wants to be audited against, and assessing the organization's current security posture.
Demonstrates Commitment to Security
Supports Compliance with Regulations
Attracts New Business Opportunities
Most Popular Questions
The SOC 2 Trust Services Principles are five categories of controls and processes that organizations must implement to achieve SOC 2 compliance: security, availability, processing integrity, confidentiality, and privacy.
The time to achieve SOC 2 compliance can vary depending on the complexity of an organization’s operations and the extent of its existing security controls. On average, the process can take several months to a year.
If a company fails a SOC 2 audit, it must address the identified issues and implement the necessary changes before undergoing a follow-up audit. Failing to do so may result in a loss of trust with customers, partners, and regulators.