Overview
  • Imagine an organization specialized in SOC 2 consulting that assures the documentation, implementation, testing, and auditing of all necessary controls. Additionally, all personnel involved in the process will receive proper training. The ultimate goal is to deliver a zero-defect attestation report within an agreed-upon target time. At Coral, this is a passion that every consultant strives to achieve.
  • Whether you need a SOC 2 attestation for internal or external purposes, or it's driven by your customers or management, the Coral team is ready to assist you.
  • Whether your business is a Startup or a well-established company with global operations, Coral’s methodologies are perfectly designed to help you achieve your SOC 2 goals.
  • Whether your requirement is SOC 2 Type 1 or SOC 2 Type 2, or in phases, we are here to help. Whether you wish to align to one trust criteria (Security), or to all five (Confidentiality Processing Integrity, Availability and Privacy being the other four), we have the tools to take you through the journey successfully.
  • Whether your applications and network are on-premises or in the cloud, Coral will design a customized program to meet your business needs, regardless of complexity.
  • Coral specializes in providing SOC 2 consulting services with a focus on personalized assistance. Our team of experienced consultants will guide you every step of the way, offering expert advice and support throughout the process. We take pride in our efficient and flexible methodologies, which enable us to deliver a comprehensive SOC 2 certification on time.
  • In the current environment, where incidents of cyber-attacks are increasing, it is crucial for any organization that wants to stay ahead in the game to implement SOC 2. Coral's consulting methodology is designed to provide the best advice that will not only ensure your security but also the implementation of a continuous program of cybersecurity governance.
  • We provide a comprehensive SOC 2 Journey. Contact us to get started.

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SOC 2 Consulting Engagement Phases
Here is a brief overview of all the phases involved in implementing SOC 2 attestation.

Phase I - Scope of SOC 2 compliance

Scoping involves the identification of:

  • Identification of sensitive data and its flow including lifecycle
  • Information systems in scope
  • Business locations
  • Data Center and Cloud Services Providers
  • Users of the report

Phase II -Gap Analysis and Risk Assessment

Based on the outcome of phase I, a combination of approaches is applied by Coral SOC 2 consultants to conduct the gap analysis.

  • A session with each organization team to asses their current scope of work and their controls
  • Determination of applicable, and not applicable controls
  • Detail risk assessment based on the flow of the information
  • A status of each control requirement in red, orange and green - determining their current status.

Coral consultants will provide detailed recommendations for each identified gap with their recommendations

Phase III - Design, Documentation and Risk Monitoring

  • Design involves control allocation responsibility to organization stakeholders.
  • Documentation involves drafting 20+ policies and procedures and facilitating their implementations
  • Risks identified in the gap analysis are discussed in detail along with their treatment plans.

Phase IV - Training & Brainstorming Sessions

  • SOC 2 requires employees' involvement in defining their internal security controls.
  • This is achieved by a combination of training and brainstorming sessions.
  • Each documentation or risk undergoes brainstorming with staff to derive a ‘best-fit’ solution for the organization.

Phase V - Control Testing

After the policies and risks are mitigated, depending upon client report requirements, controls are tested for a period of time.

  • For instance, at least a month of testing is required for Type 1, whereas for Type 2, anywhere between 3 to 6 months of testing is required.
  • Coral consultants assist the client in testing these controls to ensure the designed controls are not only defined well but are also effective.

Phase VI - Internal Audit and Management Review

  • Internal Audit involves verifying the effectiveness of the implemented lifecycle controls through interviews with physical and system verification of applicable controls, as it applies to the organization control design.
  • A formal report is published for the management committee.
  • We facilitate reviews with the management to ensure that the initial SOC 2 policy objectives and goals are achieved.

Summary

At this stage:

  • As a result of undergoing these phases, Coral has assisted the client in a successful governance program that is now compliant with SOC 2 requirements.
  • Each of the applicable SOC 2 requirements has been completed by a combination of one or more of policy, responsibilities, reports, records, technology, and automation.
  • The organization now has a plan that demonstrates its continued commitment like any other business function
  • At this stage, the organization is ready to invite a CPA firm to perform an independent assessment.

Phase VII - CPA Attestation

The chosen CPA firm performs an audit, which includes the following phases:

  • Documentation Review
  • Interviews
  • Testing control effectiveness

Once the CPA firm is satisfied with the completeness of the controls, a format report is issued to the client detailing the controls being tested with their test result

At this stage, the client is officially SOC 2 attested.

Questions

Seek a one to one session with our Principal Consultant, who will answer your questions to get started.

SOC 2 Service Trust Categories

  • Security. Information and systems are protected against unauthorized access, unauthorized disclosure of information, and damage to systems that could compromise the availability, integrity, confidentiality, and privacy of information or systems and affect the entity’s ability to achieve its objectives.
  • Availability. Information and systems are available for operation and use to meet the entity’s objectives.
  • Processing integrity (over the provision of services or the production, manufacturing, or distribution of goods). System processing is complete, valid, accurate, timely, and authorized to meet the entity’s objectives.
  • Confidentiality. Information designated as confidential is protected to meet the entity’s objectives.
  • Privacy. Personal information is collected, used, retained, disclosed, and disposed of to meet the entity’s objectives.

SOC 2 FAQs

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