Understanding and Preparing for a SOC 2 Audit - Security Boulevard

Understanding and Preparing for a SOC 2 Audit

Compliance is not something to take lightly or push to the side, especially in an organization that leans heavily on technology in service of the business. Every day, new software-based companies pop up, and competition can be fierce — the last thing you want to be known for in this competitive landscape is being non-compliant. Failing compliance audits tells current and potential customers that your organization is non-secure and untrustworthy which can result in a huge loss of public confidence, customer adoption, and overall profitability.

Familiarity with different compliance standards such as SOC, PCI, GDPR, and HIPAA is important in terms of retaining a positive, trusted brand image, as well as for staying in line with current security and privacy standards and practices. This is where understanding and preparing for a System and Organizational Controls (SOC) audit comes in handy. If your service organization is involved in the storage and use of personal information, which these days is just about every organization, then creating a SOC 2 roadmap will be an integral part of your company’s future. 

Without this roadmap, you’re leaving your company vulnerable to non-compliance with SOC 2, resulting in a less secure system, more openings for data breaches, and loss of trust in your brand and products. To avoid this, it’s paramount that you recognize what SOC 2 is and its importance in relation to the longevity and security of your company.

The main driver of a SOC 2 audit is through customer requests. There may also be a regulator that requests the report, but SOC 2 has picked up a lot of traction in the market and is well-known in the realm of people that are looking to work with organizations that ultimately process confidential data in some way. If your customers haven’t asked for a SOC 2 report yet, they will soon, especially if you’re using technology to deliver your product or service.

What is SOC 2?

There are a few different types of SOC audits — SOC 1, SOC 2, and SOC 3. A SOC 1 audit is focused on internal (Read more...)

*** This is a Security Bloggers Network syndicated blog from Blog – JumpCloud authored by Brenna Lee. Read the original post at: https://jumpcloud.com/blog/understanding-and-preparing-for-a-soc-2-audit