If your business handles customer data or provides services to other companies, SOC 2 compliance is more than just a box to check. Customer trust is important, and your willingness to undergo a SOC 2 audit demonstrates your commitment to protecting their information by having an independent party confirm that your company meets the standards for SOC 2 compliance.
Larger companies with more stringent data security requirements look for credentials like SOC 2 compliance for SaaS. This is a great selling point that can help you expand the range of clients willing to partner with your organization, especially those in finance and healthcare.
If you’ve never gone through a SOC 2 compliance audit, there’s a lot you should know. Let’s look at what SOC 2 compliance requirements you can expect to see, as well as the steps you can take to prove SOC 2 compliance.
Who Certifies SOC 2 Compliance?
The American Institute of Certified Public Accountants (AICPA) developed the Trust Services Criteria, a framework for SOC 2 compliance used to measure how well your company protects and manages data. You’ll need to hire an AICPA-accredited CPA not affiliated with your company to perform an audit and determine whether you comply with the framework.
Check with other business associates to see if they can recommend an auditor specializing in SOC 2 compliance. You can also research accredited firms and request proposals from those that seem promising.
How Do I Prove SOC 2 Compliance?
To get your certification, you’ll need to undergo an audit by a qualified CPA. They’ll take a look at all the systems and processes you have in place, and if you meet SOC 2 criteria, your auditor will give you a SOC 2 report that serves as proof of your compliance.
Sounds simple enough, right? The whole process really is straightforward, but there are a few things you’ll need to do to prepare for an audit — including deciding which certificate you want.
1. Decide on the Audit Type
You can pick from two different types of SOC 2 audits—SOC 2 Type 1 and SOC 2 Type 2:
- Type I Audit: This audit is generally easier (and less expensive) to complete. It involves evaluating cybersecurity controls at a specific point in time. An auditor can typically complete a Type I audit in a matter of weeks.
- Type II Audit: Type II SOC 2 audits cover the design, implementation, and effectiveness of controls over a period usually ranging from six months to a year. Your customers and vendors will likely place greater trust in a Type II audit because it demonstrates your ongoing ability to manage your data security. If you go with a Type II audit, it could take up to a year to receive a final report.
2. Prepare for Your Audit
Once you’ve chosen which route you’re taking, you’ll need to gather all relevant documentation — including your company’s security policies and risk assessment processes.
If you’re not confident about your current posture, consider performing a readiness assessment to locate gaps or weaknesses. You can remedy these issues before undergoing a formal SOC 2 compliance audit.
Can you prepare for and score well on your first go-round with a SOC 2 audit? You might benefit from partnering with a company that can manage SOC 2 preparation. Trava Security makes sure you’re ready by preparing an action plan that includes:
- Coordinating team members for evidence-gathering
- Establishing tasks and a timeline
- Identifying audit areas
- Mapping controls
- Troubleshooting issues
3. Execute the Audit
Once you locate an AICPA-accredited accounting firm, a CPA will meet with you to see how your business operates. They’ll let you know what information they’ll need from you, which will take the form of written documentation and interviews with your team. SOC 2 audits usually start with your company completing a security questionnaire. This often covers topics such as IT infrastructure, processes, and controls.
Your auditor may come back repeatedly to gather more evidence or recommend fixes before proceeding with the audit.
Once they’re done, your auditor will give you a copy of their final SOC 2 report with the results. If you do well, you can use this report as proof of SOC 2 compliance. If things don’t turn out as you had hoped, use it as guidance to remedy any issues before conducting another audit.
Can You Self-Certify SOC 2?
No, you can’t provide self-certification for SOC 2 compliance. An independent auditor has to certify that you meet SOC 2 compliance requirements. However, nothing is stopping you from doing a mock review to see how well you’d perform in an actual audit. It can help you identify any areas where you might fall short.
How Long Is SOC 2 Compliance Good For?
SOC 2-certified companies will be in good standing for 12 months. However, if you make significant changes to your data security systems and processes (like installing new servers, moving data to the cloud, or using third-party software for data analysis services), it introduces new risks.
Because of this, you may want to have a SOC 2 auditing procedure done annually or whenever you make a major update to your company’s technology infrastructure.
Achieve Faster Compliance With Trava Security
You’re positioning your company for success by investing in SOC 2 certification. At Trava Security, we have a 100% success rate in helping our clients achieve compliance. If you’d like to see how we can simplify your SOC 2 certification process, contact us today to set up a consultation.