SOC 2

The System and Organization Controls 2 (SOC 2) is quickly becoming one of the most sought- after compliance standards in North America. The SOC 2 framework is an auditing procedure that ensures your service providers securely manage the data to protect the interests of your organization and client’s privacy on the five principles mentioned below.

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Why Choose Accorian For Your SOC 2 Report?

Our auditors come from extensive technical backgrounds and hold nuanced expertise in data security. It enables them to comprehensively assess the system and controls of your organization’s security. 

Our team of IT audit professionals and experts  can formulate Type 1 and Type 2 reports for SOC 2 audits. These include gap assessments and the identification and implementation of necessary controls on behalf of your service business, no matter where you are. 

You can rest assured that we will thoroughly examine your environment, and not merely focus on meeting a specific reporting need. 

We will also assist you in developing the best possible privacy and security stance which will increase your value in the marketplace and give you an upper hand over competitors.

What Is A SOC 2 Report?

Organizations pursuing a System and Organization Control 2 (SOC 2) audit or attestation often seek measures to increase customer confidence in their operations.

A SOC 2 report is a vital document for service businesses to acquire. They can share it with stakeholders to show that general IT controls are in place to protect the service they provide.

SOC 2 audits make use of the AICPA's Trust Services Criteria (TSC) methodology and Trust Services Principles (TSP).

The core performance criteria that a SOC 2 report may include are:

Security

Prevention of illicit or detrimental data usage and disclosures.

Availability

Consistent access to user-facing information and systems.

Process Integrity

Completion, punctuality, and authorization of all procedures.

Confidentiality

Protection against security breaches of legally safeguarded information.

Privacy

Protection against unauthorized disclosure of personally identifiable data.

What Is A SOC 2 Attestation?

The SOC 2 audit or report is a way to assure your clients that your environment has a basic set of information security controls in place.

The SOC 2 audit verifies that the IT controls of an organization are correctly aligned, developed, and implemented to fulfill the performance criteria.

A SOC 2 report is made to fit the needs of each organization. Based on its business practices, each organization can develop controls centred around one or more trust principles.

Who Should Get SOC 2?

SOC 2 reports are often required for service firms across industries that store, process, or transfer sensitive data for their clients.

We serve a diverse portfolio of industries, including:

Technology and cloud computing entities
Data centres
Companies providing loan services
Web hosting service providers
Virtual currency service providers & Several Others
SaaS (Software as a Service) Providers
Managed IT service providers (web server, email hosting, document management, restoration service providers, cloud-based services, dedicated servers, system administrator, and other services)
Processors of payrolls and medical claims

SOC2 Implementation Stages

Types Of SOC Reports

01

Type 1 SOC Report

Auditors present their view on the quality and accuracy of how management describes their system or service.
Type 1 reports also ascertain whether or not the control design is satisfactory as of a certain date.
It does not check over time to see if the controls are still functioning properly.
A systematic SOC evaluation and report is produced on the design and implementation of controls on a certain date.
02

Type 2 SOC Report

SOC 2 Type 2 attestation is considerably more complex and thorough than a Type 1 attestation.
It entails an in-depth, long-term examination of how effectively an organization's security program performs over time.
Rather than examine how effectively the security program should fulfill the organization's goals, it investigates how well it really accomplishes those objectives with consistency.
A structured SOC analysis and report is produced on the design adequacy and operational effectiveness of controls over time. This is to make sure that the controls in place were working well during the examination period.
For a Type 2 report, we look at samples of controls like HR management, logical accessibility, and organizational change.

Integration of Other Frameworks

We can combine your SOC 2 report with other projects to avoid audit exhaustion. We can even produce a single report that includes HITRUST, ISO 27001/27002, HIPAA, and other standards using our knowledge of diverse frameworks.

In order to prepare your organization to handle today's rising compliance demands, our team will bring together risks, controls, policies, frameworks, challenges, and more.

Benefits Of Being SOC 2 Compliant

If clients are apprehensive of a company's data security safeguards, providing a SOC 2 report gives authentic confidence assurance. Client confidence, incident impact reduction, and easier compliance are all advantages of SOC 2 Type 2 certification.

01

It embellishes brand reputation

A SOC 2 report showcases dedication to corporate governance. The SOC 2 certification confirms that an organization has taken all necessary procedures to prevent data breaches. This, in turn, helps to build a strong sense of reliability and boosts the brand's reputation in the market.

06

It can assist you with other regulatory obligations

By providing a single report that addresses a service organization's common requirements for several customers, SOC Attestation minimizes numerous compliance duties. SOC 2 standards are consistent with some other frameworks like HIPAA and ISO 27001 accreditation. So, complying with new regulatory requirements also becomes more straightforward.

03

You have the ability to provide better service

Your organization will be able to simplify processes and controls based on an awareness of the data security threats that your clients face. As a result, this will improve the overall performance of your services.

02

It gives you a competitive edge and serves as a marketing differentiator.

Companies are focused on collaborating with secure providers that have implemented sufficient precautions to avoid data breaches. To prove that they are trustworthy, vendors must complete a SOC 2 audit.

SOC 2 compliance gives you an edge on rivals who don't have a SOC 2 report, and with customers that need one. SOC 2 certification is also required for businesses looking to extend their activities in the market.

04

It increases customer satisfaction

A larger range of stakeholders gets confidence that their data is safe, and that internal processes, policies, and control are verified against industry best practices.

05

It provides valuable insights

A SOC 2 study may provide valuable insight into your company's risk and safety posture, supplier relationships, internal control systems, governance, regulatory oversight, and more.

05

You can improve your business's efficiency

In order to evaluate operational effectiveness, SOC 2 Type 2 auditing requirements need a minimum of six months of documentation and validation of the controls.

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Resources

Article

IT’S NOT THE WHO BUT THE HOW! - SOC 2 Compliance

Here’s why clients choose Accorian over their competitors for their SOC 2 Compliance.1Competitors: Often follow a traditional approach to SOC 2 compliance, which may rely on established methodologies and practices, leading to a lack of innovation and failure to address emerging security threats and vulnerabilities.Accorian: We take an innovative approach to SOC 2 compliance by leveraging new technologies, tools, industry best practices, and emerging security trends. We continuously evaluate and adopt innovative solutions to address evolving threats and stay ahead of the curve. 2Competitors: May prioritize security certifications at the expense of business growth. This could mean missed opportunities to invest in product development, marketing, customer acquisition, or expanding into new markets. Neglecting these growth areas can hinder the company's ability to innovate and capitalize on emerging market trends.        Accorian: We ensure business growth is not compromised while obtaining security certifications, leveraging SOC 2 compliance as a growth enabler. 3Competitors: Compliance reports may not adhere to the highest standards of quality and trust. This can lead to a loss of credibility and doubts about the organization's commitment to security and compliance, potentially resulting in reputational damage.Accorian: We have a track record of completing over 400 assessments and audits, demonstrating our commitment to maintaining the highest standards of quality and trust. We mitigate the risk of reputational damage and ensure your organization's commitment to security and compliance remains unquestionable. 4Competitors: Limited involvement in defining new processes, drafting policies, and conducting risk assessments.Accorian: As Partners, we are closely involved with client teams to define new processes, draft policies & procedures, risk assessments, vulnerability assessments & penetration testing, remediation support, implementation advisory, and provide security awareness training. 5Competitors: May lack expertise in query resolution for complex business matters and may not possess the depth of knowledge necessary to address intricate and nuanced challenges that arise in the organization's specific business operations.Accorian: We have an in-house vCISO that facilitates in providing expertise in query resolution for complex business matters, offering guidance and solutions like risk assessment, tabletop exercises, control mapping, and validation against multiple frameworks.  6Competitors: Often rigid about adhering to their principles and values, thus limiting their flexibility in tailoring their approach to meet client requirements. This lack of customization can result in a one-size-fits-all an approach that may not fully address the organization's specific security and compliance needs.Accorian: We prioritize flexibility, transparency, and open communication in our SOC 2 audits. Our customized compliance reports adhere to the highest standards of quality and trust. We adapt our methodologies to meet your unique needs, recognizing diverse operational environments, risk profiles, and compliance objectives. 7Competitors: May have inefficient program management practices, resulting in a lack of clear project objectives and milestones.  Without well-defined goals, the business may struggle to establish a structured approach to SOC 2 compliance.Accorian: We have a structured and comprehensive approach to program management, including clearly defined project objectives, milestones, and deliverables. Furthermore, we continuously evaluate and improve program management practices by seeking stakeholder feedback, conducting post-compliance reviews, and implementing lessons learned.

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Demystifying Vulnerability Scan Reports: Best Practices for Efficient Remediation

Written By Somya Agarwal II  In today's ever-evolving cybersecurity landscape, businesses face constant cyber threats and data breaches. The first quarter of 2023 alone has witnessed over six million records exposed globally, according to Statista. This alarming statistic underscores the growing concern for cybersecurity among organizations worldwide. Therefore, vulnerability scanning is crucial in cybersecurity to identify systems, networks, and applications vulnerabilities and threats. However, effectively managing vulnerability scan reports can be overwhelming and challenging. These reports are often lengthy and complex, making it difficult for businesses to extract actionable insights. To address this challenge, organizations must understand the significance of vulnerability scanning and adopt best practices to strengthen their cybersecurity efforts. This article aims to provide practical tips and insights, to help businesses optimize vulnerability scanning strategies and improve their overall cybersecurity posture. What is Vulnerability Scanning? Vulnerability scanning is a cybersecurity strategy that involves scanning systems, networks, and applications for known security flaws and vulnerabilities using specialized software tools. Organizations can detect potential risks and prioritize mitigation activities by conducting regular scans. The process aids in the strengthening of cybersecurity defenses, protecting sensitive data, and reducing potential cyber threats. Vulnerability Scan Report A vulnerability scan report is an important document generated by a vulnerability scanner, identifying potential security risks in an organization's systems and applications. This report highlights vulnerabilities that attackers can exploit, providing crucial information for security experts to address security gaps within their organization. By leveraging this report, businesses can gain insights into specific areas of concern that require immediate attention and take appropriate measures to strengthen their security posture. Optimizing Vulnerability Management: Strategies for Efficient Scan Report Analysis and Remediation 1. Understanding the Scope and Objectives  To effectively analyze vulnerability scan reports, it is crucial to understand the scan's scope and objectives clearly. The scope outlines the systems, networks, and applications assessed for vulnerabilities, ensuring that all critical assets are included. Additionally, comprehending the objectives helps align expectations with the report's findings. For instance, the scan might prioritize specific compliance requirements or target a particular type of vulnerability. Hence, understanding the scope and objectives provides essential context when scrutinizing the report, enabling informed decision-making and focused remediation efforts. 2. Managing Lengthy Vulnerability Reports Managing prolonged vulnerability scan reports can pose challenges in promptly identifying and addressing critical issues. To effectively manage these reports, it is advisable to employ the following strategies: Leverage the table of contents or index to quickly navigate to relevant sections of the report. Prioritize the executive summary, which offers a concise overview of crucial findings and recommendations. Utilize the search or filtering functionalities to identify specific systems, applications, or severity levels of vulnerabilities. By employing these techniques, you can efficiently navigate through lengthy reports, focusing on critical aspects and facilitating prompt remediation efforts. 3. Minimizing False Positives In the realm of vulnerability scanning, false positives can occasionally arise, leading to the reporting of non-existent vulnerabilities. Detecting and addressing false positives is crucial to saving valuable time and resources. Engaging an expert security team with specialized knowledge can significantly aid in identifying and validating false positives effectively. These teams employ additional manual testing and validation methods to conduct thorough assessments of vulnerabilities, thereby minimizing the occurrence of false positives and providing more precise and actionable information. By relying on the expertise of a dedicated security team, organizations can carefully differentiate between genuine vulnerabilities and false positives. This distinction allows for a focused approach to tackling real threats, optimizing resource allocation, and streamlining remediation. 4. Streamlining Recommendations Vulnerability scan reports often overwhelm organizations with numerous recommendations, challenging initial remedial actions. To streamline this process...

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Article

Insider Threat: Understanding the Risk Posed by Ex-Employees and the Importance of Access Reviews

Written By Vignesh M R II  In today's business landscape, organizations face a plethora of cybersecurity challenges, with insider threats being one of the most formidable adversaries which can inflict severe damage on an organization's financial stability, reputation, and overall operational effectiveness, regardless of whether they are deliberate or not. According to the Ponemon Institute research report, the average cost incurred by an insider threat incident in 2020 amounted to $11.45 million, with an average containment time of 77 days. What is an Insider Threat? An insider threat refers to any risks and vulnerabilities arising from individuals who possess authorized access to an organization's systems, data, or networks. This includes current employees, contractors, and ex-employees who retain access credentials. While insider threats can emerge in different forms, ranging from inadvertent errors to acts of negligence, the potential risk posed by ex-employees is particularly alarming. Organizations must proactively manage and monitor access rights when employees leave, mitigating the likelihood of unauthorized exploitation or misuse of their credentials. Therefore, access reviews play a key role in ensuring that only authorized personnel have appropriate time-bound access to critical resources. Types of Insider Threats Insider threats can be classified into three main categories: A. Malicious Insiders: These are individuals who deliberately exploit their authorized access for personal gain, seeking revenge or causing harm to the organization. Their actions may involve illicit activities such as unauthorized acquisition of confidential information, damaging systems/networks, or engaging in other malicious activities. B. Negligent Insiders: These are individuals who unintentionally expose the organization to risks due to their carelessness, lack of awareness, or ignorance of security policies and procedures. Their actions may include unintentional deletion or leakage of critical information, falling victim to social engineering assaults, or committing errors compromising security measures. C. Compromised Insiders: These are individuals who have had their access credentials compromised by external threat actors through tactics such as phishing, password attacks, or other cyber-attacks. Once the attackers gain control of these credentials, they can exploit them to use unauthorized access to the organization's systems or data. Understanding Ex-Employee Insider Threats When an employee resigns voluntarily or involuntarily and leaves the company, there remains a concerning possibility that they may still have access to the organization’s networks, systems, and data. This is alarming, particularly because former employees may pose a serious insider threat risk. Ex-employees can pose significant insider threat risks due to various factors, including: A. Disgruntled or Revengeful Ex-Employees: Employees who leave the organization on unfavorable terms, such as termination or layoff, may harbor feelings of anger or resentment. Some former employees with negative sentiments may intentionally exploit their access privileges to seek revenge, cause harm to the business, or steal sensitive data. B. Unauthorized Retention of Access Credentials: Ex-employees may either intentionally or unintentionally retain access credentials, such as passwords, access cards, or other authentication mechanisms, even after they depart from the organization. This unauthorized retention of credentials could enable them to gain illicit access to the organization's systems or data. C. Unintentional Risk Due to Lack of Access Removal: In certain cases, the revocation of ex-employees access privileges may be delayed or overlooked due to administrative errors or inadequate processes. As a result, former employees might still have access to key resources even after their employment, unintentionally exposing the organization to insider threats. D. Ex-Employees with Insider Knowledge: Ex-employees who possess in-depth knowledge of the organization's systems, processes, and operations may pose a significant insider threat. They may leverage their insider information to access restricted areas, take advantage of security flaws, or cause harm to the organization's resources and reputation. E....

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Article

SOC2 Trust Services Criteria (TSC) – A Comprehensive Guide

Written By Om Hazela & Sarthak Makkar ll   Information security is a major concern for organizations, especially those that rely on third-party vendors such as cloud service providers and SaaS providers. The potential risk of these providers mishandling data might leave firms vulnerable to attacks and data breaches. According to cybersecurity statistics, the average cost of a data breach in the US is $9.44 million, emphasizing the need to prioritize data security and adhere to regulatory standards such as SOC2 compliance. SOC2 is a valuable business tool, enabling operational efficiency, robust reporting capabilities, and compliance with regulatory requirements. The initial step in pursuing SOC2 compliance is selecting the SOC2 Trust Services Criteria (TSC) framework. During a SOC2 audit, the auditor evaluates an organization's internal controls against the five TSCs to ensure alignment with industry standards. What are SOC2 Trust Services Criteria (TSC)? SOC2 reports play a vital role in demonstrating an organization's compliance with the Trust Services Criteria (TSC) established by the American Institute of Certified Public Accountants (AICPA). These reports provide assurance to clients and stakeholders that the organization has implemented adequate controls to safeguard the Security, Availability, Processing Integrity, Confidentiality, and Privacy of their systems and data. Hence serving as an important tool to showcase the organization's commitment to protecting sensitive information and meeting regulatory requirements. The SOC2 Trust Services Criteria (TSC) for information technology provide a comprehensive framework for developing, implementing, and evaluating information system controls. These controls are essential to ensure that your information system can effectively achieve its objectives. THE FIVE TRUST SERVICES CRITERIA (TSC) 1. SECURITY Security is the fundamental and essential TSC for SOC2, encompassing several vital components of an organization’s control environment. Since many evaluation criteria are applicable across all five Trust Services Criteria (TSCs), the security TSC is also referred to as the "common criteria." The primary objective of the security TSC is to ensure that the organization effectively protects its systems against intrusion and other risks that could compromise the delivery of services to clients. Below are the common criteria for Security: Control Environment This refers to the overall structure and framework of an organization's control activities. It involves establishing a robust control environment to ensure that management sets clear expectations regarding security and implements appropriate policies and procedures. Communication and Information This ensures establishing effective communication channels within the organization to facilitate sharing of relevant information about security controls and concerns. It involves implementing mechanisms that enables employees to report security incidents or vulnerabilities. Risk Assessment: This emphasizes the importance of organizations identifying and assessing risks and vulnerabilities associated with their systems and data. It involves conducting regular risk assessments to stay updated on emerging threats and potential impacts. Monitoring Activities This highlights the importance of regularly monitoring systems and controls to identify and address any security issues promptly. It involves implementing processes to monitor the effectiveness of security controls and identify any security incidents or breaches. Control Activities This focuses on implementing a comprehensive set of control activities to mitigate identified risks and safeguard systems and data. It includes implementing logical and physical access controls, encryption mechanisms, intrusion detection systems, and incident response procedures. Logical and Physical Access Control This emphasizes the need for organizations to implement controls that restrict logical and physical access to their systems and data. It involves employing mechanisms such as authentication, authorization, and physical security measures. System Operation This focuses on the importance of implementing controls necessary for the ongoing operation of systems to ensure their security. It includes maintaining comprehensive system logs and conducting regular reviews to detect and address any anomalies or...

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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 validation The 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....

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The Accorian Advantage

Accorian’s cybersecurity and compliance teams bring a wealth of experience to help navigate organizations through their information security journey. Our hands-on, white-glove approach combined with a goal-oriented, proven methodology brings both fiscal value and expertise to each of our clients. The facts speak for themselves.

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