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Questions to Ask my SOC2 Auditor before Signing up for a SOC 2 Compliance Audit
Written By Om Hazela & Sarthak Makkar || Ideally You want to find a service provider to take you from SOC 2 readiness to report. SOC 2 is a third-party review that attests the organization’s ability to protect the data and information they process and store. Given the current scenario where a lot of data breaches and cyberattacks are on the rise, a SOC 2 report help organizations empower with:• Enhance one’s view into your organization’s security posture• Identify opportunities for improvement over existing controls• Position your company competitively in the market (Prospects want to ensure Security is considered a priority in your organization).Many vendors offer different aspects of the SOC 2 process, from software providers who help you get audit-ready, to certified auditors from CPA firms who can assess your infrastructure and release a final SOC 2 report.Ideally, you will want to find a service provider to take you from SOC 2 readiness to report.Use these points to help you assess a vendor/service provider before signing a contract for your organization’s SOC 2 Assessment. These questions will provide you with clarity about your requirements for SOC 2 and how a service provider will be able to help you, from preparing your organization to getting attested for SOC.1. Are you a licensed CPA firm? The American Institute of Certified Public Accountants (AICPA) regulates SOC 2 audits, which must be carried out by an external auditor from a certified CPA firm. This is the only way you, as a company, can get an official SOC 2 report. Verifying that the SOC 2 vendor you are considering working with has the required accreditation is essential.2. Do you offer SOC 2 readiness services? Before you carry out a formal audit, a SOC 2 readiness assessment is a helpful way to assist you in evaluating your company's posture. Before a SOC 2 audit, gaps in your cybersecurity procedures that need to be closed (and their severity) can be identified using a readiness assessment. Ultimately, this will help you save time, establish priorities, and position your business to perform well during the SOC 2 assessment. 3. Evidence collection and validationThe evidence collection processes for SOC 2 Type 1 and Type 2 are very similar. The evidence is the same whether it is SOC 2 Type 1 or Type 2; they both cover a moment in time or a period of time. Thus, you could be required to submit the most recent Board of Directors meeting minutes for Type 1. However, if Type 2 applies to you, you must present those minutes for each quarter of your observation time. For a Type 2, there is more proof to gather, but the information is the same as a Type 1.4. How long does it take to complete a SOC 2 assessment?Many service providers claim to be able to finish a SOC 2 audit in 14 days. This clause should be clarified before a contract is signed. Although evidence collection is essentially one phase in the SOC 2 audit process and does not always lead to a full audit or final report, the two-week schedule is frequently used as an estimate for an expedited evidence collection procedure.Demand a detailed timeline from your vendor and ask them to walk you through each phase of the SOC 2 audit. This is crucial so that you can allocate resources effectively. Additionally, it is critical to understand when you might anticipate receiving a report to effectively interact with potential customers who inquire about a SOC 2 report during the sales process.5. Can you provide us with a final report? Many SOC 2 service companies can only help you...
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