SOC 2
SOC 2: What is it?
SOC 2 stands for “Systems and Organizations Controls 2” and is sometimes referred to as SOC II. It is a framework designed to help software vendors and other companies demonstrate the security controls they use to protect customer data in the cloud. These controls are called the Trust Services Principles and include security, availability, processing integrity, confidentiality, and privacy. There are two different types of SOC 2 reports that is generally discussed:
SOC 2 (Type 1)
Assess and report on a service organization’s internal controls’ impact on customers’ financial statements
SOC 2 (Type 2)
Assess and report on a service organization’s internal controls regarding the security, availability, processing integrity, confidentiality, and/or privacy of customer data (i.e., the “Trust Services Principles”)
Our approach
Insight. Creativity. Technology.
Proven methods applied in a consistent manner to help achieve security through compliance
Save Time
We carefully assets your current environment to determine the the level of effort and timeline for your compliance journey
Concentrate on Business
We work with you on the best path of implementation to obtain your SOC 2 compliance
Enhanced security
We work with you on the best path of implementation to obtain your SOC 2 compliance
5
Trust Service Criteria categories
64
Individual Criteria
12
Avg. month to complete SOC 2 assessment
$50k
Avg. cost for SOC 2 assessment
The Process
SCOPE
Here we determine what portions of your business should be included in the SOC 2 attestation. This is also where we help you determine what trust principles/trust services criteria optimally apply to your business based on the types of clients you serve and information you process.
GAP ASSESSMENT
Here we learn about your existing information security controls and determine the gap between your current state and SOC 2 ready.
RISK ASSESSMENT
Here, we determine where your organizations information security risks are greater than your risk appetite and develop a Risk Remediation plan to address them.
READINESS ASSESSMENT
Here one of our SOC 2 experts will conduct an internal audit to ensure the controls are working as intended and generating the evidence that you will need for a “clean” SOC 2 external audit and report. Our auditor will be objective and fully independent of the consultative team that worked with you on the SOC 2 implementation.
Frequently Asked Questions
SOC 2 Certification is not required, but it is a way of communicating the degree of care a company takes to the consumer. High profile data breaches are in the news all the time, and it seems more accessible than ever for criminals to compromise private data
Achieving SOC 2 certification means vendors have established practices with required levels of security across their organization to protect data. Tt demonstrates that their commitment and that they are invested in providing secure services and ensuring the security of clients’ information.
This, in turn, enhances the business reputation, ensures business continuity, and gives the business a competitive advantage in the industry. B3Cyber specializes in helping clients in their efforts of SOC2 Audit & Attestation.
Generating a SOC 2 Report will generally take somewhere between six months to a year for most companies. In particular, SOC 2 Type 1 Reports can take up to six months, whereas SOC 2 Type 2 Reports will typically take at least six months and will often last an entire year or longer.
Many factors affect these durations, causing a wide variance from company to company.
For instance, companies with more extensive and diverse IT and cybersecurity infrastructures will likely require longer timelines when completing the audit process necessary for a SOC Report. Additionally, the number, kind, and location of users respective to the company (i.e., on-premise or remote personnel) will impact the audit’s assessment scope.
However, the primary factor determining how long the complete SOC 2 process will take is the Type of SOC 2 Report selected by your organization.