SOC 2 report assessments and services are offered by NDNB Accountants & Consultants (NDNB), North America’s premier provider of high-quality, fixed-fee SOC 2 reporting. Take note of the following best practices for ensuring a smooth, highly-efficient, and cost-effective SOC 2 reporting process from day one:
A SOC 2 Readiness Assessment is Essential
New to the SOC 2 assessment process, then we highly suggest going through a brief, yet comprehensive readiness assessment for identifying critical gaps, deficiencies, along with important audit scope considerations. Every company – and we mean every – has always benefited from a SOC 2 readiness assessment – why – because we always find issues that demand immediate attention prior to the actual audit commencing. From missing documents to inadequate processes and internal controls, correcting such items before the audit begins is an absolute must, no question about it. Call Christopher G. Nickell, CPA, at 1-800-277-5415, ext. 706 today to learn more.
Identifying the Relevant TSP’s and Business Process is Critical
The SOC 2 framework utilizes the following five (5) Trust Services Principles for reporting: Security, Availability, Processing Integrity, Confidentiality, and Privacy. Look upon them as distinct silos in today’s world of SOC 2 compliance – mandates that require procedures and processes for ensuring adherence to each applicable TSP. Along with identifying which of the TSP’s should be included in a SOC 2 assessment, it’s also imperative to identify the relevant business processes to be covered.
As for the business process, is the entire organizational service offering included within the scope of a SOC 2 assessment, or just a sub-category of it? Many companies actually have multiple SOC 2 reports conducted on various business lines, so this is an important issue to assess and come to an agreement on in the early stage of audit preparation and planning. Talk to Christopher G. Nickell, CPA, at 1-800-277-5415, ext. 706 today to learn more about important business process and scoping considerations for SOC 2 compliance.
Operational Processes are Critical
Yes, it is, very critical, so much so that companies often hire consultants for the main purpose of helping assist with SOC 2 compliance, along with other regulatory compliance mandates. This can often take hundreds of hours and thousands of dollars, and it’s why NDNB highlights the need for ensuring highly competent personnel are on board, ready to assist
Remediation is a Must
Every service organization going through SOC 2 compliance will have some amount of remediation to undertake, no question about it. From developing processes and procedures to strengthening various operational and I.T. internal controls, remediation is a big part of SOC 2 compliance. For some, it can take quite a bit of time as they quickly find out that missing processes and procedures will amount to dozens of hours of work, while other service organizations simply need to do marginal enhancements – it all comes down to the maturity of one’s internal control environment. Take note of the following regarding SOC 2 report assessments:
- SOC 2 audit reports are an important element of the AICPA Service Organization Control (SOC) reporting framework.
- Organizations can opt for a SOC 2 Type 1 or a SOC 2 Type 2 report.
- SOC 2 reports are different from SOC 1 reports.
- SOC 2 audit reports are geared towards many of today’s technology oriented companies.
Why Choose NDNB for SOC 2 Report Assessments?
NDNB has spent years performing SOC 2 reports assessments for a wide-variety of companies. Name the industry – from agriculture to technology – and we can safely say that we’ve touched almost every type of sector, which means NDNB has the expertise and know-how for getting the SOC 2 audit done. Looking for a fixed-fee for SOC 2? Need expertise from highly competent, qualified CPA’s? Want SOC 2 straight-talk? Then talk to the experts today at NDNB by contacting Christopher G. Nickell, CPA, at 1-800-277-5415, ext. 706 today to learn more. Regulatory compliance is only going to continue to growth as we move forward to a more digital world, so get ready with the coming compliance wave by contacting NDNB today.