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SOC II Type II

What is it?
What is the value proposition?
What are the drivers?
What is the methodology used?

What is it?

SOC stands or Service Organization Controls, and are standards designed to assist service organizations imparting services to clients and customers.

 

A SOC report is issued after a third-part auditor conducts a through examination of an organization to verify that they have an effective system of controls related to security, availability, processing integrity, confidentiality and privacy.

 

SOC 1 is a control report for service organizations, which pertains to internal control over financial reports.

 

SOC 2 is a report using the existing SysTrust and WebTrust principles. This report evaluates the business information system that relates to security, availability, processing integrity, confidentiality, and privacy.

 

SOC 3 is also based on SysTrust and WebTrust principles but focused around general use report.

 

What is the value proposition?

  •   An in depth understanding of SOC I & II Requirements.
  •   A systematic guided approach for SOC I & II implementation and support.
  •   Experienced experts 50+ SOC I and II Implementation experience.
  •   Detailed reports with recommendations.

What are the drivers?

  •   Providing assurance to stakeholders on the Internal Controls and meeting objectives in adverse situations.
  •   Customers looking for holistic view of the effectiveness of their cyber security program.
  •   Requirement to satisfy global regulatory and compliance requirements for mission critical systems.
  •   Contractual obligations with customers for securing information assets.

What is the methodology used?

Our penetration testing methodology is as follows:

  •   Preparation - Identify the scope and objectives and formal management approval
  •   Analysis - Process Identification, tools and current implementation status are audited. All applicable Trust Service Principles, Criteria and Illustrations for Security, Availability, Process Integrity and Privacy Controls are mapped.
  •   Readiness Review - The documented policies and procedures are reviewed complying with SOC II.
  •   Documentation and Implementation - Gaps related to controls and documentation are implemented and Readiness Audit is conducted.
  •   Final Audit/Assessment and attestation of report and Certification - Final audit for SOC II is conducted by CPA and audit findings are reported.