CASE STUDIESEVENTS
NEWSLETTERBLOG
Picture of the author
Picture of the author
Contact Us
Standard Compliance

SOC2 Compliance

  • Overview
  • Methodology
  • Purpose
  • Our Approach
  • Benefits
  • Clients
  • FAQs

Overview : SOC2 Compliance

The American Institute of CPAs introduced the SOC 2 (Service Organization Controls) standard in 2013. SOC 2 is a method for guaranteeing that service providers safely manage your data to protect your company's interests and its clients' privacy. It is constructed around five principles to secure consumer data: security, confidentiality, availability, integrity, and privacy. SOC 2 applies to technology based SAAS companies as well as third-party vendors and other partners who must adhere to these standards to assure the data's integrity.

Methodology

SOC 2 is a framework for guaranteeing that all cloud-based technology and SAAS firms have controls and policies in place to ensure client data privacy and security. External auditors offer SOC 2 attestation. Implementation will assist you with identifying the underlying abnormalities in terms of the procedures and security controls that a firm should have in place for its consumers to have confidence in them.

Type 1 SOC2 - A Type 1 report focuses on policies and procedures for ensuring Trust Service Criteria at a certain point in time. This means that an auditor will assess a company once on a set of criteria and controls to ensure that it meets specified control requirements.

Type 2 SOC2 - A Type 2 report is an internal controls report that details how a corporation protects client information and how well those controls are working. Independent third-party auditors produce these reports, which address the concepts of security, availability, confidentiality, and privacy.

Soc2 needs

Why do organizations need it?

SOC 2 Compliance enables you to determine how effective the controls managing data in your environment are. Because it's an independent audit completed by a third-party CPA firm, SOC 2 is more reliable.

The Major benefits of SOC 2

  • More Controlled and consistent processes are being developed.

  • Soc 2 audit is a proactive approach to help avoid costly security breaches.

  • It provides assurance that your system and networks are secure.

  • SOC 2 report provides valuable insight into your organization's risk and security posture, internal control governance and many more.

Our Approach

SOC2 outlines how to handle a customer's data using five principles: integrity, confidentiality, availability, integrity, and privacy. Information security, access control, risk assessment, mitigation, incident policy, and other policies must be documented to obtain SOC 2 attestation.

SOC2 outlines how to handle a customer's data using five principles: integrity, confidentiality, availability, integrity, and privacy. Information security, access control, risk assessment, mitigation, incident policy, and other policies must be documented to obtain SOC 2 attestation.

Gap Assessment is a fact-finding process that compares a company's present security posture to industry standards and the SOC 2 framework. Performing a gap analysis prepares you for the SOC 2 procedure. It provides organizations with the information they require, as well as suggestions for controls that may be necessary to remedy gaps.

This is to ensure that all the policies that have been drafted are followed and implemented in the organization, as well as to encourage the client's organization to take the reporting and attestation process to the next level. The outcomes of these evaluations are utilized to classify threats into various risk levels, allowing the client to take appropriate action.

After we've accomplished all the above stages, we'll get your company SOC2 certified. This will entail a thorough evaluation of your company's SOC standards to ensure that they comply with the standard's criteria. Audits are conducted to acquire information about the client and the company to identify areas that may require additional attention. Type 2 reports typically take longer than Type 1 reports because they provide proof of how a corporation operates its controls that have been indicated in the control checklist throughout time.

Finally, we'll help you complete the SOC 2 attestation. This necessitates a detailed understanding of the various documentation needs, as well as validation of the implementation. The CPA (Chartered Public Accountant) certifies your company as a SOC2 TYPE 1 and Type 2 qualified company.

Benefits

large enterprises
industries
security solution

Clients

convin logo
finbit logo
kogta logo
procap logo
square yards logo
suco bank logo

Kratikal Insights

+

Enterprise
Customers

+

Organizations’ Security
Compliant

K+

Small and mid-size
enterprises (SMEs)

K+

Threats Recorded in
GCTx Database

FAQs

How long does it take to certify to SOC 2?

Every organization has its unique set of requirements, and SOC 2 is less predictable than other information security standards, which have a more consistent attestation timetable. The size and complexity of the business, as well as the cost and availability of a SOC 2 auditor, are some of the most important aspects to consider.

Reviewing your systems is the only way to ensure you're ready for a SOC 2 compliance assessment. Our SOC 2 Audit Readiness Assessment and Remediation Service can assist you with this.

Few controls need to be implemented to achieve SOC2 attestation -
a) System Monitoring
b) Data Breach Alerts
c) Audit procedures
d) Forensics

The purpose of the SOC2 report is to reassure service organization customers, management, and user entities about the effectiveness and applicability of service organization controls related to security, availability, processing integrity, and other factors.