Soc 2 Compliance- Improving Your Company’s Growth

 

Information security concerns all organizations, including those that outsource vital business operations to third-party vendors (e.g., SaaS, cloud-computing providers). Mishandled data especially by application and network security providers can leave enterprises vulnerable. Attacks like data theft, extortion, and malware installation can become common. SOC 2 compliance steps in to protect your safe from all threats.

SOC 2 is an auditing process that secures your service providers to securely manage your data to safeguard your organization's interests and clients' privacy. SOC 2 compliance is a minimal prerequisite for security-conscious businesses considering a SaaS provider.

About SOC 2

SOC 2 audits were established by the (AICPA) American Institute of Certified Public Accountants with the ambition of verifying and ensuring the cybersecurity controls implemented by service providers. They are analogous to SOC 1 audits developed by the AICPA to assure a service provider's financial reporting.

SOC 2  necessitates organizations to create and adhere to rigorous information security policies and procedures encompassing customer data protection, availability, processing, integrity, and confidentiality.

Having the SOC 2 report attesting to your enterprise's compliance means you can demonstrate to others that the data you process is protected.

Who needs SOC 2 Compliance?

Any organization collecting, storing, or processing sensitive customer information must be SOC 2 compliant. This includes businesses and financial, healthcare, and education sectors.

While the process can be costly and time-consuming, it can also assist organizations to win new customers and increase trust with existing ones.

Services like Rogue Logics provide an exceptional range of solutions that redefine the cybersecurity landscape. From industry-leading SOC 2 audits to comprehensive security measures

SOC 2 Requirements

SOC 2 compliance is based on precise requirements designed to ensure the effective management of client data. These requirements are organized into five core Trust Service Principles: availability, security, processing integrity, confidentiality, and privacy.

Security

The security principle emphasizes preventing unauthorized use of a vendor's assets and compliance with data security practices. For instance, implementing access restrictions can help mitigate harmful attacks, prevent unauthorized data removal, and safeguard against misuse of corporate software, unauthorized alterations, or unauthorized disclosure of corporate data.

The (TCS) Trust Services Criteria for Security, Availability, Processing Integrity, Confidentiality, and Privacy Document details the essential SOC 2 compliance checklist (which will satisfy an auditor) and should address the following controls:

Availability

The availability principle requires system operations and services to be available for authorized use as specified by the customer or business partner.

To meet this criterion, organizations must have a written policy that comprises measures to preclude, detect, and correct interruptions to service availability. The policy should address system maintenance, capacity planning, incident response, and business continuity in accumulation.

Process Integrity

This principle states that all business controls and systems must protect the confidentiality, solitude, and security of information processing.

To meet this regulation, companies must maintain security controls to protect data from unauthorized credentials and ensure that businesses process data accurately and consistently.

Confidentiality

The confidentiality regulation requires companies to design and implement controls to defend the confidentiality of liable information. This principle is essential for SOC 2 compliance, ensuring that only official users can access sensitive data.

Privacy

Finally, the privacy principle requires businesses to protect customer data and prevent data infringements. To comply with the privacy principle, companies must carry out physical, technical, and administrative safeguards to protect data from unauthorized access.

SOC 2 Checklist

 

      Conduct a comprehensive self-audit of your organization.

      Select the appropriate trust services criteria for SOC 2 compliance.

      Review your existing security controls and make necessary adjustments.

      Conduct a final self-assessment to ensure readiness for the SOC 2 audit.

      Proceed with the SOC 2 audit to complete the compliance process.

Final thoughts

Undergoing a SOC 2 compliance audit enables businesses to identify areas requiring adjustments to meet the Trust Services Criteria (TSC). The post-audit steps vary based on the report's findings, typically involving implementing changes in how customer data is handled and protected. The audit report is a guide for making necessary improvements to ensure compliance with SOC 2 requirements.