Checklist SOC 2
If you are a service organization and your customers entrust you with their data, you may need to pass a SOC 2 audit to sell your products. Your customers might now demand an audit report from you, or industry regulations might require it. You may need to provide proof of SOC 2 compliance to demonstrate that the data entrusted to you is well secured.
Here is a SOC 2 compliance checklist before your next audit to protect your customers’ data and your company’s interests.
1. Define Your Objectives.
SOC 2 compliance can help organizations that process customer data for other companies strengthen their reputation, financial statements, and stability by documenting, evaluating, and improving their internal controls. SOC 2 reports can offer a competitive advantage by revealing ways to operate more efficiently and securely, and you can highlight those strengths when marketing and selling your services:
- Oversight of the organization
- Vendor management programs
- Internal corporate governance and risk management processes
- Regulatory oversight
- Determine what you will test and why.
2. Choose the Right Trust Services Principles to Test.
SOC 2 audits assess the internal controls at a service organization relevant to the following five trust service principles or criteria, as set out by the AICPA:
Security: Information and systems are protected against unauthorized access, unauthorized disclosure of information, and damage that could compromise the availability, integrity, confidentiality, and privacy of that information or those systems.
- Availability: Information and systems are available for operation and use.
- Processing Integrity: System processing is complete, valid, accurate, timely, and authorized.
- Confidentiality: Information designated as confidential is protected.
- Privacy: Personal information is collected, used, retained, disclosed, and disposed of appropriately.
3. Choose the Right Report.
There are two types of SOC 2 reports: SOC 2 Type 1 and SOC 2 Type 2. The type of report you need depends on your specific requirements and objectives.
A SOC 2 Type 1 report is a quick, efficient way to ensure your data is secure and communicate that to your customers. A SOC 2 Type 2 report can provide more assurance by examining your controls more thoroughly and over a longer period.
4. Assess Your Readiness.
Preparing for a SOC 2 audit can be overwhelming, especially if you are doing it for the first time. You have many controls to choose from, and you need to meet numerous documentation requirements.
Starting with a readiness assessment can enhance the effectiveness of your SOC 2 report by helping you identify gaps in the control framework. By establishing the policies and procedures you have in place before the audit begins, you can review all controls in advance. Then you can see what needs to be done to pass each test associated with the audit.
Passing a SOC 2 audit should be challenging, but it doesn’t have to be stressful. Reviewing this SOC 2 compliance checklist before you start can help you prove that your customers’ data is safe, allowing your business to continue doing what it does best.
