Service organisation controls (SOC) 2 is an internal control offering that utilises the American Institute of Certified Public Accountants (AICPA) standards to provide an audit opinion on the security, availability, processing integrity, confidentiality and/ or privacy of a service organisation’s controls. SOC 2 can be applied for regulatory or nonregulatory purposes to cover business areas outside of financial reporting. The report can be distributed to customers and other stakeholders to demonstrate a focus on system and processing controls to meet their requirements.
As Organisations outsource more of their core operational functions, there’s been a large increase in demand for system and organization control (SOC) 2 reports. Cloud services providers, data centre hosting companies, Big Data Analytics organisations and Other IT Managed Service Companies require support for performing SOC 2 Type 2 engagement and designing of a comprehensive framework, controls, and evaluation of controls to providing assurance over the controls in place at the Service Organisation. SOC 2 is based around the Trust Principles of Security, Availability, Integrity of processing, Confidentiality and Privacy.
Third party organisations that successfully complete a SOC 2 audit can offer their clients reasonable assurance that an independent reviewer has assessed their controls that relate to operations and compliance, and they meet the criteria prescribed by AICPA for the five TSCs. The report helps to prioritise risks in order to ensure that high-quality services are being delivered to the clients. Essentially, a SOC 2 report is a tool that can give organisations competitive advantage and open up their market to new billion dollar industries.
E Com Security Solutions (www.ecomsecurity.org) has assisted the organisations in designing the SOC framework as well as in performing design and implementation (D&I) and operating effectiveness testing to comply with the SOC 2 TSC requirements. With E Com Security Solutions assistance, the organization achieved a single view of the various controls that were tested. It also helped the organization draft consistent messaging across its units and regional profit centres on the evidence that needed to be produced. Moreover, the organization was provided with the areas for standardization and automation of controls. E Com Security Solutions methodology also offers a standardised format for meeting a broad range of regulatory and non-regulatory control requirements. Companies which are required to comply with data privacy and data protection regulations (e.g. GDPR) can obtain a SOC 2 report to demonstrate to customers that effective controls are in place to comply with these regulations.
Also, the Organisations received on-time delivery of a resilient, state-of-the-art Cyber Security Setup, which created preparedness for Advanced Persistent Threat (APT) and campaign attack or state-sponsored attacks.
About E Com Security Solutions:
E Com Security Solutions (www.ecomsecurity.org), Globally recognized Big 7 Cyber Security & Compliance consulting firm and named as a leader in the Gartner Magic Quadrant with offices in India, U.S.A, U.K, Israel & Middle East.
E Com Security Solutions’ cybersecurity and compliance portfolio include:
- End to End Compliance Management including Audit, Implementation Support and Certification of PCI DSS, PA DSS, HIPAA, HITRUST, EU GDPR, AICPA SOC 2&3, CSA STAR, ISO 27001 and ISO 20000 standards.
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Threat and Vulnerability Management including Network Vulnerability Assessment and Penetration testing, Web & Mobile Application Security Assessments & Penetration testing, Source Code Security Reviews, and Cloud Security Assessment.