NDNB is North America’s leading provider of SOC 2 assessments, offering both SOC 2 Type 1 and SOC 2 Type 2 reporting, along with readiness assessments, remediation services, and numerous other supporting services and solutions. The economy is growing aggressively, with many businesses entering into startup and entrepreneurship mode.
With a big – and growing – tech sector literally everywhere in North America, along with it comes big regulatory compliance requirements, particularly when it comes to the AICPA SOC 2 reporting standard – the globally recognized third-party assessment for technology-oriented service organizations. NDNB offers comprehensive SOC 2 services, offering both Type 1 and Type 2 assessments, along with SOC 2 readiness assessments, and remediation services.
Essential SOC 2 Items to Know for Auditing Success
Here’s what you need to know about SOC 2 Type 1 audits from North America’s leading regulatory compliance firm:
1. SOC 2 Type 1 vs. SOC 2 Type 2: Type 1 audits are issued for a point in time – such as June 30, 20xx – while Type 2 audits cover an actual test period, such as January 1, 20xx to June 30, xx. Thus, Type 1 audits only assess controls for a certain date, while the Type 2 assessments will assess and test the controls over the prescribed six (6) month test period. Additionally, if you’re new to SOC 2 audits, it’s best to start off with a “soft landing”, which means performing a SOC 2 Type 1 assessment, then moving on to SOC 2 Type 2 compliance in subsequent years. While you most certainly can go directly to a SOC 2 – we perform such assessments all the time for new clients – it’s recommended to begin with a Type 1 assessment, if you can.
2. Begin with a SOC 2 Readiness Assessment: The very best avenue for ensuring a successful SOC 2 audit begins by performing a comprehensive readiness assessment. Why? Because you’ll want to identify and confirm critical issues relating to audit scope, control deficiencies & remediation, facilities to be visited and assessed, personnel to be involved in the audit, and much more. It’s about proper planning and doing your due-diligence for the long-haul in terms of regulatory compliance, and it’s why a SOC 2 readiness assessment is an absolute must.
Specifically, businesses being required to undergo annual SOC 2 compliance need to perform a comprehensive pre-audit assessment for determining gaps and issues relating to policies, procedures, and processes – the 3 P’s of regulatory compliance. NDNB’s SOC 2 readiness assessment services are brief, yet in-depth, cost-effective, and incredibly beneficial in terms of ROI and helping ensure an efficient and successful SOC 2 audit.
3. Policy Documents are Critical: Don’t forget the importance of documentation for SOC 2 compliance – specifically – the need for comprehensive information security policies and procedures. Remember that each of the relevant Trust Services Criteria (TSP) contain essential requirements within the “common criteria” framework effectively mandating policy documents, and other essential materials. Additionally, performing a risk assessment is also a must, which again, requires documentation for proving to auditors that you’ve actually performed this task.
From access control to change management – and more – documentation is a big part of SOC 2 compliance. Nobody really wants to spend dozens of hours authoring information security policies and procedures for SOC 2 compliance, and its why businesses all throughout Atlanta – and North America – are turning to NDNB, and so should you.
5. Assess Third-Party Providers: Ironically, many businesses undergoing annual SOC 2 assessments actually outsource services to yet another entity, which are effectively known as “subservice organizations”. You’ll want to work with your auditor in determining if the control environment of such subservice organizations is to be included within the scope of your actual SOC 2 report. If so, additional assessment procedures will have to be performed. This is often an overlooked aspect of SOC 2 compliance, but it’s an important element of reporting on controls for service organizations, so talk to your auditor and get the answers you need.
6. Why Choose NDNB? Because we offer all the necessary services and solutions for helping Atlanta businesses become SOC 2 compliant, beginning with a scoping & readiness assessment, then developing all necessary policies and procedures, assisting with any other remediation activities – and finally – performing the actual SOC 2 Type 1 or SOC 2 Type 2 assessment.
Regulatory compliance is here to stay, so work with the proven and trusted SOC 2 experts, that’s NDNB. We’ve been helping Atlanta businesses for years when it comes to compliance services, and we’re ready to help you, so call and speak with CPA Christopher Nickell, at 1-800-277-5415, ext. 706.
NDNB – North America’s Leading Provider of SOC 2 Audits – Fixed Fees
NDNB has been helping service organizations all throughout the Southeast with today’s growing and demanding regulatory compliance needs. Along with offering SOC 1 SSAE 18, SOC 2, and SOC 3 audits, we also provide a wide variety of other services. If you’re seeking the services of a well-known CPA firm with deep roots in North America, then consider NDNB. Kick-start your SOC 2 efforts today by contacting us now.