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Step 1: Bring in Credible Outside Auditors. Step 2: Select Security Criteria for Auditing. Step 3: Building a Roadmap to SOC 2 Compliance. Step 4: The Formal Audit. Step 5: The Road Ahead Certification and Re-Certification.
SOC 2 Type 2 Definition More specifically, SOC 2 is designed for service providers storing customer data in the cloud. It requires companies to establish and follow strict information security policies and procedures encompassing the security, availability, processing, integrity, and confidentiality of customer data.
SOC 2 compliance is a component of the American Institute of CPA's (AICPA)'s Service Organization Control reporting platform. Its goal is to make sure that systems are set up, so they assure security, availability, processing integrity, confidentiality, and privacy of customer data.
The Service Organization Control (SOC) 2 Type II examination demonstrates that an independent accounting and auditing firm has reviewed and examined an organization's control objectives and activities, and tested those controls to ensure that they are operating effectively.
Summary. A SOC 1 report is designed to address internal controls over financial reporting while a SOC 2 report addresses a service organization's controls that are relevant to their operations and compliance. One or both could be right for your organization.
How Long Does It Take to Get a SOC 2 Report? The SOC 2 reporting process can take anywhere from 4 weeks 18 months on the extreme ends of the spectrum (6 weeks 3 months on average).
Step 1: Bring in Credible Outside Auditors. Step 2: Select Security Criteria for Auditing. Step 3: Building a Roadmap to SOC 2 Compliance. Step 4: The Formal Audit. Step 5: The Road Ahead Certification and Re-Certification.
Most SOC 2 reports cover a 12-month period, but there are times when service organizations perform this audit every six months, depending on the client's preference and any ongoing concerns in the operational control environment.
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