Organizations that are new to SOC 2 certification and want to maintain compliance have a series of factors to consider.
This article is designed to help you first understand why SOC 2 reports are required or requested, and how your organization can prepare for and maintain its certification.
Why Do You Need a SOC 2 Report?
SOC 2 examinations, also known as SOC 2 audits, have become an expected standard for all service organizations that interact with, or operate as, vendors or service providers that store, process, or maintain client data. CISOs, CFOs, and auditors rely on SOC 2 reports to gain comfort and valuable insight over the internal controls of critical vendors and service providers.
Regardless of your company’s line of services—from Software as a Service (SaaS) to Intelligent Autonomous Systems (IAS)—if it has ongoing interactions with customer data or third-party providers, it likely needs an annual SOC 2 report to remain competitive in the marketplace and to forego the numerous vendor audit and security questionnaires.
Consistent SOC 2 examinations not only help keep your company safe, but they can also help potential customers, business partners, or buyers gain comfort over the soundness of the system of internal controls. This can help your company’s credibility and competitive edge in the market and can increase consumer confidence.
To further understand what type of SOC report your organization needs, please read our article.
A Checklist to Aid SOC 2 Compliance
If you’d like to view a PDF version of the checklist, please click here.
If you need more information on reviewing your vendors’ SOC reports, please see our checklist that specifically focuses on vendor considerations.
We’re Here to Help
For more information, please see our SOC Reports Overview.
If you have any questions about SOC 2 compliance, please contact your Moss Adams professional.