What is a SOC Audit?
Service organizations bear multiple responsibilities concerning different aspects of the business to clients. SOC (System and Organization Controls) audits are designed to help fulfill specific (client or user entity) requests in the form of SOC 1, SOC 2 or SOC 3. To be more specific , System and Organization Controls (SOC) audit reports are a series of comprehensive internal controls that:
- evaluates organizations' risks to improper system and data access
- provides information to clients and auditors for trust, transparency, and peace of mind.
- procurement and contract negotiation
- vendor management
- independent auditors of user entities and regulators
What will you gain from a SOC Audit?
- Better understanding of how risks are addressed in similar organizations in the same industry.
- Enhanced organizational reputation and overall reduction of risk as a result of ability to correcting weaknesses and gaps identified in the report.
- Savings in time and money – taking away the hassle of dealing with auditors and non-core activities.
- Improved customer confidence in your organization’s Trust Service Criteria (security, availability, processing, integrity, confidentiality, privacy).
- Increased shareholder confidence in designed controls to effectively mitigate risks.
- In an increasingly competitive environment, a SOC Audit can strengthen your position in the market.
Let WCG partner with you to keep your organization and your clients assured of the integrity of your services.
System and Organization Controls 2 Audit (SOC 2)
The SOC 2 Audit is a detailed, restricted-to-use report that gives shareholders a thorough understanding of
- the service organization
- the service being provided, and
- internal controls relating to that service
The objectives in a SOC 2 engagement relate to meeting its commitments to customers and system requirements. Commitments are the declarations made by management to customers regarding the performance of one or more of the entity's systems. Such commitments generally are included in written contracts, service level agreements, or public statements (for example, a privacy notice). Some commitments are applicable to all customers (baseline commitments), whereas others are designed to meet individual customer needs and result in the implementation of processes or controls, in addition to those required to meet the baseline commitments. System requirements refer to how the system should function to meet the entity's commitments to customers, relevant laws and regulations, or guidelines of industry groups, such as trade or business associations.
Components of a SOC 2
- Auditor’s opinion
- Description of controls (narrative)
- Applicable Trust Services Criteria
System and Organization Controls 3 Audit (SOC 3)
The SOC 3 audit, on the other hand, is a general-use, summary report that follows the same overall process as SOC 2. It provides the highest level of certification and declaration of operational excellence that a data center can receive. This report consists of only an auditor’s opinion, management assertion, and a brief narrative providing background on the service organization.
It determines whether the service organization maintains effective controls over its systems and is typically intended for users who do not require a more thorough report, which includes a detailed description of the design of controls or tests performed by the service auditor.
Components of a SOC 3 audit
- Auditor’s opinion
- Limited details on the tests performed
- Applicable Trust Services Criteria
What WCG can do for you?
Wilson Consulting Group (WCG) is a leader and innovator in the global cyber security industry. We provide assurances about your organization’s controls and a collaborative and effective SOC while performing a thorough assessment. Your organization benefits from this service by:
- Performing a readiness assessment using the relevant SOC framework and provide recommendations for improvement or identify areas with potential gaps.
- Developing a SOC report that organizations can share with customers, or other auditors, to provide transparency into the control environment
- Creating a customized SOC report that meets specific industry or customer requirements, such as a SOC 2+ for the pharmaceuticals industry, NIST, HITRUST, or GDPR
Your organization benefits from this service by:
- Strengthening your brand by identifying and rectifying risks and gaps
- Helping you understand the health of the controlled environment within your organization
- Providing recommendations for improvement
- Inspiring confidence with your stakeholders and clients
Our FedRAMP process and use of internal application provide a faster and simplified approach to evaluate controls and identify deficiencies. Depending on your application or service’s complexity, categorization of risk level, and maturity of infrastructure, we can effectively and efficiently get you ready for the authorization up to 60 days, which saves 80% faster time to market.
Our pricing is competitive and straightforward with no hidden agenda, miscellaneous charges, or add-on fees, which provides you with at least 40% cost savings compared to others’ pricing and approach.
Our dedicated team is incredibly talented, knowledgeable, and experienced in conducting FedRAMP assessments and providing consulting in accordance with NIST 800-53 Revision 5. We have unique experiences in working with both the federal government agencies (such as the Department of Homeland Security, Department of Defense, and General Services Administration) and corporate cloud services providers who serve the federal government. These experiences allow us to have the know-how to ensure businesses are successful with their assessments.
Knowledgeable and Experienced Team
Our team has unparalleled experience aiding governments and businesses around the world in defending themselves against cybercrime, reducing risks, complying with regulations, and transforming their IT, security operations & infrastructure.
WCG has hands-on IT experts who have extensive knowledge and experience helping businesses.
We provide simple, straightforward pricing with no hidden agenda, miscellaneous charges, or add-on fees.
Personalized Customer Service
Our personable, dedicated staff to answer any questions you have at any time throughout the process.
Proven Track Records
WCG has an exceptional reputation and track record for numerous services.
Adopting to Your Needs
We develop and customize an approach that suits your immediate requirements and future goals. To achieve this, WCG will provide pragmatic insights and balanced views on how to prioritize any associated actions.
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