SOC for Supply Chain is on the Way
The American Institute of Certified Public Accountants is developing System and Organization Controls (SOC) for Supply Chain to add to its suite of services. These SOC would provide internal controls report on an entity’s system and controls for producing, manufacturing or distributing goods to better understand the cybersecurity risks in an operations’ supply chain.
As demand for transparent vendor supply chains increases, the development of this new attest service proves critical. The SOC for Supply Chain report would provide relevant and reliable information on risk to an organization’s supply chains, allowing that organization to mitigate risk.
As organizations rely more and more on technology to assist in their product distribution and manufacturing, risks increase. For example, a cybersecurity attack on a manufacturer’s system could render a significant impact on the user entity of the product.
Users who would benefit the most by using the SOC for Supply Chain Vendor Reports include:
- Business customers
- Business partners
- Non-regulatory, standard-setting bodies
- Prospective customers or business partners
No matter where your organization is within the supply chain, SOC is one of many regulations you must comply with to appease your vendors and clients. Through our Cybersecurity Compliance Program, 2W Tech can help your business obtain and maintain compliance with SOC and the countless other regulations you must follow to remain operational. Contact 2W today for help with your compliance needs.