NDB Accountants & Consultants, LLP (NDB) is one of Texas’ leading providers of SOC 2 Type 1 and SOC 2 Type 2 reports, offering high-quality compliance services, complete with fixed-fee pricing for all our solutions. Along with offering SOC 2 audits, we also provide numerous supporting services, such as readiness assessments to policy writing, and much more. If you’re a business in Dallas, TX offering critical services and solutions to other entities, then expect SOC 2 compliance to come calling, so get prepared and learn the facts about the AICPA Service Organization Control (SOC) framework.
Dallas’ Leading Provider of SOC 2 Audits & Assessments at Fixed Fees
There’s no better place to be than the Lone Star State – call it a Texas mindset, one we fully embrace – yet with such a stellar economy in Dallas also comes big regulatory compliance reporting mandates for many businesses. Technology is booming in Dallas, and also in Houston and Austin, with many Texas entities requiring annual SOC 2 compliance, which NDB can assist, offering fixed fee pricing. Name an industry in Texas, from manufacturing to technology, and it’s safe to say that NDB has a strong presence in terms of providing annual compliance audits and assessments. From the oil fields of West Texas to the technology hub in Austin, NDB is a household name in offering SOC 2 audits, and numerous other regulatory compliance services, such as SOC 1, SOC 3, PCI DSS, HIPAA, FISMA, ISO 270000 reporting, and more.
Offering Comprehensive SOC 2 Services to Dallas, TX Businesses
For SOC 2 Compliance & Assessments, Reporting on Controls at a Service Organization Relevant to Security, Availability, Processing Integrity, Confidentiality, or Privacy is the official framework of a SOC 2 report. Under the new American Institute of Certified Public Accountants (AICPA) Service Organization Control (SOC) framework, this is but one of three new reporting options, which include SOC 1, SOC 2, and SOC 3. The AICPA has made great strides in replacing an aging auditing standard (SAS 70) with a vastly improved and more up-to-date service organization reporting platform. So, here’s what you need to know about SOC 2 Compliance & Assessments, courtesy of NDB Accountants & Consultants, LLP, North America’s leading provider of SOC 1, SOC 2, and SOC 3 audits:
The SOC 2 Privacy Principle is one (1) of the five (5) Trust Services Principles (TSP) put forth by the American Institute of Certified Public Accountants (AICPA) within the SOC 2 reporting framework. In today’s growing world of regulatory compliance, much emphasis is now being placed on the “Privacy” principle, for which the AICPA defines as the principle that “…addresses the system’s collection, use, retention, disclosure, and disposal of personal information in conformity with the commitments in the entity’s privacy notice and with criteria set forth in generally accepted privacy principles (GAPP) issued by the AICPA and Canadian Institute of Chartered Accountants…”.
Therefore, meeting the rigors of the AICPA Privacy Principle should generally consist of the following:
SOC 2 Type 2 reporting & compliance is a growing trend in today’s world of never ending regulations and industry specific mandates. With the pronouncement of the Service Organization Control (SOC) framework, which consists of SOC 1, SOC 2, and SOC 3 reporting, the SOC 2 standard has become the de facto reporting platform for technology oriented organizations, and for good reason. From managed services providers to data analytics entities, managed service providers – just to name a select few – SOC 2 Type 2 reporting & compliance is here to stay. With that said, it’s important to gain a strong understanding of the following critical elements regarding SOC 2 Type 2 reporting & compliance.
The SOC 2 trust principles are criteria based provisions consisting of what’s essentially known as the Trust Services Principles (TSP), which are the following:
- The security of a service organization's system.
- The availability of a service organization's system.
- The processing integrity of a service organization's system.
- The confidentiality of the information that the service organization's system processes or maintains for user entities.
- The privacy of personal information that the service organization collects, uses, retains, discloses, and disposes of for user entities.
Furthermore, SOC 2 reporting & compliance is technically part of the AICPA Service Organization Control (SOC) framework, which allows for three (3) reporting options – SOC 1, SOC 2, and SOC 3. Please also note that the SOC 2 Trust Principles, which have been revised for reporting periods on or after December 15, 2014, will consist of the following seven areas: