Once the management framework is implemented, the chosen CPA firm performs audit, which includes the followings:
Once the CPA firm has completed the assessment, a draft report is issued, which is reviewed by the client, for final report. A typical report has 5 sections.
Finally, upon receiving their SOC 2 report, the clients are officially SOC 2 attested.
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System and Organization Control (SOC 2) is published by American Institute of Public Accountant (AICPA) as a standard reference to be used by any organization to demonstrate implementation of security best practices.
SOC 2 has 5 trust principle, namely common criteria security, processing integrity, availability, confidentiality and privacy. These 5 trust principles have a total of nearly 330 controls, called as point of focus (POF). POF is not exactly same as controls as the organization needs to decide the degree of alignment with its implementation journey.
In the phrase ‘system and organization control, ‘system’ represents the services or product or solution that the service organization delivers to its clients (user entity). Organization controls refers to the controls that organization applies based on its business to demonstrate adequate security.
Certified Public Accountants (CPA) Firms issue SOC 2 reports.
SOC 2 is synonymous with security best practices. When an organization implements SOC 2 it has established a governance program that is driven by management participation and sponsorship. Most organizations nominate a CISO or a risk and compliance manager to drive this program.
Bridge letter is a self-attestation of ‘internal control effectiveness’ by the service organization management representative, for a period not covered in the attestation report.
For instance, if a service organization was attested for Jan to June 2022 and then again, the same period for 2023, the service provider can use the bridge letter for the intervening period, in this case July to Dec 2022.
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