There’s quite a bit of chatter today in the world of regulatory compliance regarding SOC 2 vs. NIST 800-53. Both the AICPA SOC auditing framework (which consists of SSAE 18 SOC 1, SOC 2, and SOC 3 reports) and the NIST SP 800-53 publication are major players in today’s growing world of regulatory compliance, so let’s take a deep dive into the SOC 2 vs. NIST 800-53 discussion.
5 Things You Need to Know about SOC 2 vs. NIST 800-53
1. SOC 2 is Part of the AICPA “SOC” Framework: The American Institute of Certified Public Accountants (AICPA) launched the SOC assessment report framework in 2011, and with that came three (3) new reporting options: SOC 1, SOC 2, and SOC 3. SOC 1 reports initially used the SSAE 16 standard – which has been replaced by the SSAE 18 standard – as the official “standard” for issuing SOC 1 reports. SOC 2 reports use the AT 101 standard, as do SOC 3. Together, these three (3) reporting options replaced the one-size-fits-all SAS 70 auditing standard that had been in use since 1992.
Initially, the SOC framework stood for “Service Organization Controls”, but that was recently modified and is now called “System and Organization Controls”. Fast forward now and the SOC 2 standard is now arguably become the most widely recognized out of all three (3) SOC options, and that’s because more and more technology-oriented businesses are undergoing annual SOC 2 compliance. Think data centers, Software as a Service (SaaS), managed security service providers – and more – they are all ideal candidates for annual SOC 2 compliance.
SOC 1 SSAE 18 and/or SOC 2 compliance is becoming a must-have for hundreds of Atlanta businesses seeking to comply with growing client demands and industry specific regulations. Whatever your business offers, from I.T. services to operational and manufacturing of products, it seems as if the regulatory compliance mantra is sparing hardly any company today in the metro Atlanta region.
What’s interesting to note is that as Atlanta has increasingly become one of the true financial and IT markets in the country, the mandates for compliance have increased similarly also. Atlanta’s growing like never before – and that’s great – but so are the massive compliance mandates of SOC 1 SSAE 18 and SOC 2, along with PCI DSS, HIPAA, FISMA reporting, and much more. Need help? Then turn to the experts at NDNB, Atlanta’s premier provider of compliance services.
SOC 2 and SOC 3 compliance audits and reports for Texas businesses in Dallas, Houston, Austin, San Antonio – and other surrounding regions in Texas – are offered by the Lone Star State compliance experts at NDNB. When it comes to high-quality, industry leading, fixed fee SOC 2 and SOC 3 audits, call NDNB today by speaking with Christopher. G. Nickell, CPA, at 1-800-277-4515, ext. 706.
Businesses all throughout Texas are being asked to undergo annual SOC 1, SOC 2 and SOC 3 audits, and understandably so, as their services are being utilized by other companies seeking validation of one’s internal control environment.
SOC 2 & SOC 3 Compliance Audits | Dallas, Houston, Austin | Fixed Fees
It’s important to note that while SOC 2 and SOC 3 assessments utilize the same set of Trust Services Criteria (TSP), along with the same AT 101 reporting standard, SOC 2 is a generally seen as a restricted, limited use report, while SOC 3 reports are available for general consumption by all interested parties. It’s also important to take note of the following when it comes to SOC 2 and SOC 3 reporting:
Scope is critical: It’s important to identify what specific business processes and functions are going to be included for SOC 2 and Remember also that there are five (5) Trust Services Criteria (TSP): Security, Availability, Processing Integrity, Confidentiality, and Privacy – and they each have specific requirements for SOC 2 and SOC 3 reporting. Texas businesses need to speak with SOC 2 and SOC 3 experts who can help confirm scope, provide fixed fee pricing, and deliver an audit on time and on budget, and that’s NDNB for SOC 3 reporting.
Thousands of service organizations across North America are being required to perform annual SOC 2 audits, so now’s the time to learn more about the AICPA SOC framework. NDNB, one of the country’s leading provider of compliance services, offers the following SOC 2 implementation guide for helping organizations in understanding SOC 2 reports. Today’s compliance drumbeat is beating louder than ever, so get prepared and learn all you can about SOC 2 audits for ensuring an efficient and cost-effective auditing process from beginning to end.
As auditors, a common question we receive almost daily is “What is SOC 2 Compliance?” And naturally, with today’s growing regulatory compliance mandates being pushed onto thousands of businesses across North America, it’s a question that’ll keep being asked. So, “What is SOC 2 Compliance?” It’s a process whereby an organization (i.e., service organization) undertakes various measures for putting in place all necessary policies, procedures, processes and related internal controls in accordance with stated AICPA Trust Services Criteria (TSP).
The SOC 2 standard includes reporting that allows for the issuance of a SOC 2 Type 1 and/or Type 2 assessment, for which NDNB offers to businesses throughout North America and other select regions. Compliance with the SOC 2 standard requires in-depth technical knowledge and auditing expertise in today’s challenging and complex business arena. All the more reason to trust the experts at NDNB for all your SOC 2 reporting needs.
So out with the old and in with the new – as the old saying goes, as the AICPA SOC framework has successfully replaced the well-aged, one size fits all SAS 70 auditing standard for reporting periods on or after June 15, 2011. And now the SSAE 16 standard has been replaced with the SSAE 18 standard for May 1, 2018. It’s a new world of regulatory compliance, one filled with heavy mandates for annual audits, for which you’ll need to know the following regarding the SOC 2 standard: