The American Institute of Certified Public Accountants (AICPA) publishes various audit and reporting guides designed to keep companies and their stakeholders safe. One that applies to most service organizations, including but not limited to cloud computing providers, is the SOC 2 framework. So, why is SOC 2 compliance important? Read on to learn why it matters, how it helps cloud organizations specifically, and how its criteria can help all companies.
SOC 2
Service organizations vary widely in nature, but all need to assure their clients’ trust. One significant hurdle to that effect is securing the networks upon which you and your customers rely. A SOC 2 audit, using the American Institute of Certified Public Accounts (AICPA) Trust Services Criteria (TSC), goes a long way toward earning that trust. Implementing network security monitoring solutions and techniques help ensure a successful SOC 2 audit report and optimize your cyberdefenses more broadly.
The Trust Services Criteria (TSC) is the security framework used for audits resulting in a SOC 2 or SOC 3 Report. All SOC reports are overseen by AICPA, the American Institute of Certified Public Accountants, to build trust between service organizations and their clientele.
The American Institute of Certified Public Accountants (AICPA) oversees several certification programs for service organizations, including those for software-as-a-service (SaaS) providers. If clients are uncertain about the SaaS company’s security measures protecting their data, producing a System and Organization Controls (SOC) 2 Type 2 report provides concrete trust assurance.
Service organizations seek out SOC reports to prove to current and future clients that any data trusted with the service organization is safe. SOC 2 reports, in particular, provide insights into a company’s security, availability, processing integrity, confidentiality, and privacy—the five Trust Services Criteria (TSC) prioritized by the American Institute of Certified Public Accountants (AICPA).
To help service organizations assure their clients of data safety, the American Institute of Certified Public Accountants (AICPA) has developed several System and Organization Controls (SOC) audits. There are three variations, but SOC 2 is the most common for evaluating whether a company’s security practices are up to par.
A SOC 2 audit aims to discover if an organization has secure and sufficient procedures and policies to protect vital corporate data. With the emphasis on data privacy these days, companies outsourcing their cloud infrastructure, colocation, data processing, and data hosting can generate a positive buzz if they can pass their SOC 2 audit with flying colors.
The best defense is a potent offense. That’s the thinking behind the “ethical hacking” cybersecurity practice known as penetration testing (pen-testing). To understand which vulnerabilities a cybercriminal could exploit and how, it’s best to test them out yourself — or with the help of an expert service provider. Pen-testing is ideal for ensuring all regulatory requirements are in place, such as those for SOC 2 compliance.
Depending on your business and clientele, you may need to comply with security requirements established by the American Institute of CPAs (AICPA). The System and Organization Controls (SOC) numbered 1, 2, and 3 apply to service organizations, particularly those that store, process, or come into contact with consumer data.