SOC 2

Overseen by the American Institute of Certified Public Accountants (AICPA), SOC 2 evaluates the implementation of effective standards and controls for organizations outside the financial sector, including software-as-a-service (SaaS) providers. Since the SOC 2 certification validity period only lasts for a limited amount of time, those pursuing certification on a long-term basis will need to dedicate themselves to learning and maintaining these rules. 

Organizations looking to build trust among current and potential clients have a host of tools available to them—but one of the most effective is a SOC 2 audit. SOC 2 is an assessment framework overseen by the American Institute of Certified Public Accountants (AICPA). The SOC 2 audit is a robust evaluation process, whether Type 1 (short-term) or Type 2 (long-term). So, to guarantee success, organizations should turn to a SOC 2 implementation guide—like this one.

 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.

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.

Organizations that provide software and other services to businesses and individuals must ensure that all data entrusted to them by customers is secure.

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.

One of COVID-19’s direct impacts on businesses has been the acceleration toward cloud solutions. Cloud computing and data storage have skyrocketed — in fact, cloud spending increased 37% during the first months of the pandemic. In turn, this means more companies now need to focus on their cloud security practices, especially concerning regulatory compliance requirements. For example, service organizations need to comply with the American Institute of CPAs (AICPA) SOC guidelines and SOC cloud security requirements.

The American Institute of CPAs (AICPA) has determined a set of requirements your company may need to follow if it is a “service organization” that stores sensitive user data on the cloud. These requirements are known as Security Organization Controls (SOC), and audits to ensure they’re in place are referred to as SOC reporting.