SOC 2 (System and Organization Controls 2) is an information security framework developed by the American Institute of Certified Public Accountants (AICPA) to help service organisations demonstrate how they manage data to protect the privacy and interests of their clients.
Therefore traditionally it has been more recognised in the US than in other parts of the world. Throughout the UK and Europe ISO 27001 has been a more prominent certification.
However, recently more and more British companies are seeking a SOC 2 audit. Here we look at What SOC 2 is, How to pass a SOC 2 Audit and Why British Companies need SOC 2.
What is SOC 2?
SOC 2 (System and Organization Controls 2) is a widely recognised auditing standard developed by the American Institute of Certified Public Accountants (AICPA) to evaluate how service organisations manage customer data. It focuses on five key trust principles: security, availability, processing integrity, confidentiality, and privacy.
A SOC 2 audit assesses whether a company’s systems and controls are designed and operating effectively to protect sensitive information. This is especially important for technology and cloud-based service providers who handle large volumes of client data and need to demonstrate their commitment to data protection and operational.
Only Certified Public Accountants (CPAs) or firms affiliated with the AICPA are authorised to perform SOC 2 audits. These professionals must have specific expertise in IT systems, cybersecurity, and risk management. Many CPA firms partner with technical specialists to ensure a comprehensive evaluation of both business processes and IT controls.
How to pass a SOC 2 Audit
The basis of passing any successful audit is presenting objective evidence to support the implementation and effectiveness of controls.
SOC 2 encompasses many more controls and points-of-focus than other frameworks such as ISO 27001. The most effective way to prepare for an audit is to conduct a gap analysis with one of our experienced SOC 2 Consultants.
The Gap Analysis identified areas of good practices as well as areas for improvement, which we can then progress into an implementation project to ensure you are ready for the SOC 2 audit.
When you are implemented the controls and can evidence their effectiveness, you should choose an AICPA authorised SOC 2 Audit Body to produce your SOC 2 report.
Why do British Companies need SOC 2?
Although SOC 2 is an American scheme, more and more British companies are requiring a SOC 2 audit and report because they are working with clients or other third parties based in America.
Undergoing the SOC 2 audit process make strategic sense for many British companies making them a more attractive vendor for American customers and reinforcing trust in their operations.
Aside from this, the detailed SOC 2 controls bring additional security benefits that are not covered by other frame works.
Get Started with SOC 2
Our SOC 2 Consultants can discuss your requirements including whether to progress with a Type 1 or Type 2 audit, and provide support throughout the process including the gap analysis, remediations, choosing a SOC 2 audit body and successfully completing the audit.
