SOC 2 Compliance

Overview : SOC 2 Compliance

The implementation of the Information Security Management System (ISMS) involves translating best practices into action within the organization. This may encompass documenting roles and responsibilities, deploying endpoint security measures, and planning for Business Continuity (BCP). It is a comprehensive effort to operationalize and integrate security measures across various aspects of the organization’s functions.

Methodology

SOC 2 is a framework designed to ensure that all cloud-based technology and Software as a Service (SAAS) firms have controls and policies in place to guarantee client data privacy and security. External auditors provide SOC 2 attestation. The implementation of SOC 2 helps identify underlying abnormalities in terms of the procedures and security controls that a firm should have in place to instill confidence in its consumers.

SOC 2 Type 1: This report focuses on policies and procedures for ensuring Trust Service Criteria at a specific point in time. An auditor assesses a company once against a set of criteria and controls to ensure compliance with specified control requirements.

SOC 2 Type 2: This is an internal control report detailing how a corporation protects client information and the effectiveness of those SOC 2 controls. Independent third-party auditors produce these reports, addressing the principles of security, availability, confidentiality, and privacy. The Type 2 report provides insights into how well these controls are functioning over a specified period, offering a more comprehensive view of the organization’s commitment to data security and privacy.

Why Choose Us?

We prioritize a client-centric approach, adhering to best practices as one of the top 10 cybersecurity service providers in India. As a global leader in cybersecurity, we hold multiple certifications and specialize in compliance services. Our focus is on helping businesses overcome challenges by delivering personalized solutions. Our swift and thorough test results align with the current needs of businesses, ensuring growth through strict adherence to the best compliance services.

Our Expertise

Our team comprises certified cybersecurity compliance experts with hands-on experience in leading SIEM (Security Information and Event Management), network monitoring, and data loss prevention tools in the industry.

Having collaborated with various organizations across a diverse range of industries, our experts possess expertise in standard, industry-specific, and regulatory compliances.

The compliance implementers and SOC 2 auditors at Owl Neck are well-versed in international IT frameworks, enabling them to deliver optimized solutions tailored uniquely to your organization’s needs.

Why do organization need it?

SOC 2 Compliance provides a means to assess the effectiveness of controls managing data in your environment. Being an independent audit conducted by a third-party CPA firm, SOC 2 is considered more reliable for evaluating and ensuring the security, availability, confidentiality, integrity, and privacy of data within an organization.

The implementation of more controlled and consistent processes is underway.
SOC 2 audit serves as a proactive measure to help prevent costly security breaches.
It offers assurance that your systems and networks are secure.
The SOC 2 report provides valuable insights into your organization's risk and security posture, internal control governance, and more.

Our Approach

Gap Assessment

A Gap Assessment is a fact-finding process that involves comparing a company's current security posture to industry standards and the SOC 2 framework. Conducting a gap analysis is a preparatory step for the SOC 2 procedure. It equips organizations with the necessary information and offers suggestions for controls that may be essential to address identified gaps in compliance.

Policy Drafting

SOC 2 outlines guidelines on handling a customer's data based on five key principles: integrity, confidentiality, availability, integrity, and privacy. To achieve SOC 2 attestation, documentation of information security, access control, risk assessment, mitigation, incident response, and other policies is essential. Following these principles and documenting relevant policies ensures a comprehensive approach to securing and managing customer data in accordance with SOC 2 standards.

Implementation

The purpose is to ensure that all drafted policies are not only documented but also followed and implemented within the organization. This approach aims to encourage the client's organization to elevate the reporting and attestation process to a higher level. The results of these evaluations are then used to categorize threats into different risk levels, enabling the client to take appropriate actions and enhance their overall security posture.

Auditing and Training

After completing all the aforementioned stages, the next step is to obtain SOC 2 certification for your company. This involves a comprehensive assessment of your company's SOC standards to ensure compliance with the criteria set by the standard. Audits are conducted to gather information about the client and the company, identifying areas that may require additional attention. Type 2 reports generally take longer than Type 1 reports as they provide evidence of how a company operates its controls over time, as indicated in the control checklist.

Attestation

In the final stage, we will assist you in completing the SOC 2 attestation. This involves a thorough understanding of the various documentation requirements and validation of the implementation. The certification is conducted by a Chartered Public Accountant (CPA), who certifies your company as a SOC 2 Type 1 and Type 2 qualified entity. This attestation signifies your company's adherence to the SOC 2 standards and its commitment to maintaining a secure and compliant information security management system.

FAQs

How long does it take to become SOC 2 certified?

The timeline for SOC 2 compliance is directly proportional to the number of departments and controls being implemented in the work environment. Generally, a SOC 2 Type 1 audit can take approximately 3-4 months, while a SOC 2 Type 2 audit may take a bit longer. The complexity of the organization’s structure, the number of controls to be assessed, and the thoroughness of the implementation process can influence the overall duration of the compliance journey.

Will we get a certificate after SOC 2 external audit?

In the SOC 2 audit, attestation is provided by an external auditor accredited to AICPA (American Institute of Certified Public Accountants). It’s important to note that there is no certification of compliance for the SOC 2 audit. Instead, the external auditor issues a SOC 2 report, which can be either a Type 1 or Type 2 report, based on their evaluation of the organization’s adherence to SOC 2 standards. This report provides insights into the effectiveness of controls related to security, availability, confidentiality, integrity, and privacy.

Is it mandatory to get both SOC 2 Type 1 and Type 2 compliant simultaneously?

If you are initiating SOC 2 compliance from scratch, your primary focus should be on achieving SOC 2 Type 1 compliance. This establishes a foundational security framework upon which you can build and implement Type 2 controls, eventually achieving full SOC 2 compliance. It’s important to note that one cannot attain SOC 2 Type 2 compliance without first obtaining Type 1 attestation. Therefore, starting with Type 1 compliance provides a crucial step in the progression toward a comprehensive and robust SOC 2 compliance posture.

Is there a statement of applicability in SOC 2 compliance?

In SOC 2 compliance, there is no specific SOA (System and Organization Controls) checklist. However, organizations typically use an RFI (Request for Information) tracker sheet to map all the pieces of evidence against the SOC 2 controls. The RFI tracker serves as a documentation tool to demonstrate how an organization’s policies, procedures, and practices align with the requirements outlined in the SOC 2 framework. It helps organizations keep track of the evidence and responses related to each control during the audit process.