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:
- Organization and management
- Risk management and implementation of controls
- Monitoring of controls
- Logical and physical access controls
- System operations, and
- Change management
We Provide SOC 2 Policy Packets to Every Client
Remember that one of the most fundamentally important aspects of SOC 2 Type 2 reporting & compliance is having comprehensive information security and operational specific policies and procedures in place. Companies are generally very good at what they do – or they wouldn’t be in business – but are also not good at documenting what they do, hence the need for the development of policy and procedural materials. NDB offers an industry leading SOC 2 Policy Packet for every client we work with, so learn more about the SOC 2 Policy Packet today. There’s simply no need to spend hours authoring much-needed SOC 2 Type 2 reporting & compliance policies, NDB provides an in-depth packet that comprehensive, high-quality, and easy-to-use. Learn more about NDB's complimentary SOC 1 Policy Packets and SOC 2 Policy Packets. They truly make a big difference in helping service organizations save thousands of dollars on SOC compliance.
Fixed Fees for all SOC 2 Audits & Assessments | Call Now
Is your organization a technology businesses and requires SOC 2 Type 2 reporting & compliance, then call the proven and trusted experts today at NDB and receive a competitively priced fixed fee, along with a complimentary SOC 2 Policy Packet. From managed services providers to data centers, Software as a Service (SaaS) entities – and more – whatever your business model is, we can assist with SOC 2 Type 2 reporting & compliance.
SOC 2 is here to stay, thus service organizations would be wise to educate themselves on critical topics relating to SOC 2 reporting & compliance. Call and speak directly with Christopher Nickell, CPA, to receive a competitively priced, fixed fee for SOC 2 reporting & compliance. Chris can be reached at 1-800-277-5415, ext. 706, or via email at email@example.com.