Security of IT service while working from home
Currently, more people are working from home than ever before, bringing numerous risks for organizational security. Global data breaches are on the rise, potentially causing significant consequences for businesses. By maintaining security control, organizations can not only retain customer trust but also mitigate financial losses.
ISAE 3402 | SOC 1 Type I vs. Type II
To clarify which SOC Types your organization needs, here’s the essential information.
COSO 2013 framework
On December 15, 2014, the transition period for adopting the COSO 2013 framework ended. What are the opportunities and risks that arise from this transition? The COSO Internal Control Integrated Framework (ICIF) 2013 is a comprehensive update of the COSO ICIF 1992 model.
Value of ISAE 3000 | SOC 2 Assurance
Who can expect value from ISAE 3000 | SOC 2 Assurance?
ISAE 3000 | SOC 2 is specifically designed for service providers storing customer data in the cloud. This means ISAE 3000 | SOC 2 assurance can add value to almost any SaaS company, as well as any organization using the cloud to store customer information.
Consequences of ISAE 3402
To obtain an ISAE 3402 certification, you need to have a description of your internal control, also known as a Service Organization Control Report (SOC).
What are the requirements for a SOC 1 report?
For certification, your organization needs a report describing its risk management and internal control. This report is also known as a Service Organization Control Report (SOC), terminology that originates from the United States (AICPA). If a SOC report concerns outsourced activities, it is referred to as a SOC 1 (US) or ISAE 3402 report. If the report pertains to certification according to a specific standard (e.g., Trust Service Principles), it is called a SOC 2 or ISAE 3000 report.
Third-party risk and ISAE 3402
From full outsourcing of complex functions such as IaaS, PaaS services, or component manufacturing to small contracts with local service providers and suppliers, organizations in various sectors and sizes heavily rely on external service organizations.
What suits my organization better? SOC 1 or SOC 2?
The SSAE18 standard (AICPA) from the United States includes two types of reports; a Service Organization Control Report 1 (SOC 1) and a Service Organization Control Report 2 (SOC 2). This terminology is increasingly being used internationally. An ISAE 3402 report is within this terminology a SOC 1 report, an ISAE 3000 report is a SOC 2 report.
ISAE 3402; assurance on outsourcing
The ISAE 3402 standard is an internationally recognized audit standard issued by the International Auditing and Assurance Standards Board (IAASB). The examination by the auditor of a service organization is widely accepted as it represents a thorough review of the internal control objectives and activities of a service organization. The audit framework and associated control measures are detailed in the System and Organization Report (SOC).