The AICPA (American Institute of Certified Public Accountants) developed a strategic solution for business owners with the cybersecurity risk management reporting framework. This AICPA’s systematic framework is one component of the organization’s SOC for Cybersecurity examination, which was designed to help businesses manage the world of cybersecurity threats. The AICPA devised a set of effective processes and tight controls to help identify, respond and recovery from data security breaches. Because of constant changes in the regulatory and IT landscapes, SOC Compliance is all about keeping the organizations internal house in order. SOC Compliance is important because businesses rely on their service providers to protect and safeguard private, confidential or other sensitive information that they often must share with them.
SOC Compliance necessitates some level of assurance that the service provider is maintaining a sound control environment. AICPA’s SOC framework allows service providers to demonstrate their compliance with established, standard guidelines called the TSP’s which are: Data Security, Processing Integrity, Confidentiality, Availability and Privacy. There are currently several SOC reports that could be used by your organization:
- SOC 1: Audit of Financial Reporting Internal Controls
- SOC 2: Very detailed audit which is focused on Trust Services Principles (TSP’s)
- SOC 3: Summary Audit on IT Controls over the TSP’s
- SOC for Cybersecurity: Audit on preventing, monitoring, and effectively handling cyber security threats
- SOC Consulting & Readiness: Pre-audit to prepare for the other 4 audits
With so many additional breaches in all sectors of business, it has never been more important to find, adopt and implement tighter cybersecurity assessment measures to understand the risks and prevent or minimize the damage of data breaches. 2W Tech has a Cyber Security Compliance Program that is designed to support our Client’s compliance obligations. Most organizations must abide by and maintain a standard for controls that safeguard the confidentiality and privacy of information stored and processed. We work hand in hand with you to learn more about your required compliances, help obtain proper agreements, and access relevant system architecture information. Give us a call today to get started on your journey to achieving compliance.
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