Do your IT services and data systems comply with SOC 2 standards? Most businesses let their network and data systems administrators manage their IT services and ensure compliance. The standard was established by the American Institute of CPAs and outlines the best practices for managing and securing customer data.
The primary focus of the standard is processing integrity, confidentiality, security, privacy, and availability. By reviewing the standard and why it’s important, businesses learn why it’s critical for keeping customer data safer.
Are There Different Reports With SOC 2?
Yes, businesses can get two different types of reports. Type one evaluates the systems and determines if the company is compliant with the standard. The second type explains the efficiency of all systems and how they operate. Businesses can learn more about compliance by setting up SOC 2 Services now.
Why It’s Important
The requirements for the IT standard start with maintaining robust security schemes to protect all data and prevent outside access to customer data. By complying with the standard, the company has enhanced information security protocols and practices.
These security measures stop cyber attacks and security breaches that lead to identity theft and financial losses. The organization also gains a competitive edge over their competitors since their data systems are more secure and give the customers more peace of mind.
Performing a SOC 2 Audit
A licensed CPA completes the audits for the data systems and ensures that all systems comply. When reviewing the security principles, the audit addresses access controls and examines who can access the data systems and how unauthorized personnel is blocked from the data.
The administrators must manage change management services to ensure that all new changes are applied to all user accounts and the data systems. Systems operations are another element they review to prevent deviations from the security protocols and offer resolutions for any operations that open the network to serious risks.
Finally, risk mitigation is the final process that is available. The system must have practices for identifying risks and protocols for stopping these risks before they get to the data system. The security design must collect information about all attack attempts and show the administrator the origin of the attacks.
Organization Specific Security Schemes
The business type defines how robust the security schemes must be for the company. For instance, if the company is a bank, confidentiality is more imperative and details about the accounts should never be exposed. When assessing the bank’s compliance with SOC 2, the CPA must determine that no one can get to the financial data or transfer data or funds from the bank except the customers.
Who Needs the CPA’s Report for SOC 2 Compliance?
Organizations set up the audits to determine if the IT department and administrators are implementing IT standards as expected. Typically, the reports are sent to executives, compliance supervisors, the business owner, and business partners. A cyber attack is often the catalyst to get these assessments started to find out why the administrators allowed a serious risk to successfully penetrate the network or data system.
SOC 2 compliance is paramount for all organizations that manage customer data. If the customer data includes financial information, the systems need more profound security schemes to block out unauthorized viewers. Business owners can face serious liabilities if a customer’s information is stolen and the customer incurs a serious financial loss. By reviewing why businesses need SOC 2 compliance, the owners see why the standard protects themselves and their customers.