Why Comply with “Voluntary” SOC Compliance Audits?
As the number of cybersecurity threats grow every day, there are more regulations being handed down by government agencies and trade organizations alike to make sure client data is protected. When your company is mandated to comply with so many regulations, why should you bother with a voluntary internal audit like the System and Organization Controls (SOC) from the American Institute of Certified Public Accountants (AICPA)?
Simply put, you comply to guarantee the peace of mind of your clients.
As for SOC specifically, there are numerous SOC reports you can pursue:
- SOC 1 Type 1
- SOC 1 Type 2
- SOC 2 Type 1
- SOC 2 Type 2
- SOC 3
The only difference between any of these options is the test time. For example, SOC 2 Type 1 tests during a certain point in time, while SOC 2 Type 2 takes place over a period of months.
Most importantly, SOC compliance serves as a seal of approval for clients who want to work with companies that take cybersecurity seriously. Consider a single data breach can cost millions of dollars to rectify, the upfront cost of complying with SOC is minimal by comparison.
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.