SOC 2 Audit Process

SOC 2 audits are particularly important for service organisations that manage or process sensitive data on behalf of clients, as they demonstrate that the organisation follows best practices for data protection, risk management, and operational integrity.

Get a Demo

Why is SOC 2 Important?

A SOC 2 audit is a rigorous assessment that evaluates an organisation’s internal controls around data security, availability, processing integrity, confidentiality, and privacy. Conducted by an independent auditor, this audit ensures that your organisation has established comprehensive controls that meet the SOC 2 Trust Service Criteria, instilling confidence in your security practices among clients, partners, and regulators.

SOC 2 Type I Audit

This audit focuses on the design of an organisation’s controls at a single point in time and generally takes 2-4 weeks to complete. Type I audits are typically faster since they don’t require ongoing evidence gathering over a period.

SOC 2 Type II Audit

Type II audits assess the operating effectiveness of controls over a period, usually between 3 and 12 months.

Scope for Audits

These audits are more comprehensive and involve testing controls over an extended period, making them more time-intensive. The entire Type II audit process can take 3-6 months or more, depending on the number of controls and the availability of audit evidence.

SOC 2 Compliance Checklist

Our SOC 2 compliance checklist provides a structured way to track readiness and confirm that all SOC 2 requirements are met. 

What is a SOC 2 Report?

A SOC 2 audit report provides a detailed assessment of an organisation’s compliance with SOC 2 requirements. This report includes the auditor’s opinion on the effectiveness of controls, descriptions of controls tested, and any identified gaps or areas for improvement.

Learn More About SOC 2 Reports

What is the difference between SOC 1 and SOC 2?

SOC 1 focuses on internal controls over financial reporting. It's primarily used by service organisations that provide services that impact a client's financial statements. ‍
SOC 2 focuses on security, availability, processing integrity, confidentiality, and privacy. It's more relevant for organisations that handle sensitive customer data.

What is a SOC 2 Type I vs SOC 2 Type II report?

SOC 2 Type I report assesses the suitability of the design of controls at a specific point in time. It's like a snapshot of your security posture.
SOC 2 Type II report assesses the suitability of the design and operating effectiveness of controls over a specific period. It's a more comprehensive evaluation of your security practices.

Learn the difference between SOC 2 Type I and Type II

How long does it take to achieve SOC 2 compliance?

The time it takes to achieve SOC 2 compliance varies depending on the size and complexity of your organisation. However, it typically takes several months. Key factors include:

Existing security posture: If you have strong security controls in place, it might take less time.
Scope of the audit: The number of systems and processes included in the audit will impact the timeline.
Experience of your service organisation: A skilled service organisation can help streamline the process.

Who needs SOC 2 compliance?

Organisations that handle sensitive customer data, especially those in highly regulated industries like healthcare and finance, are often required to obtain SOC 2 compliance. This includes:

Cloud service providers
Software-as-a-service (SaaS) providers
Payment processors
Data centers

What is included in a SOC 2 report?

A SOC 2 report includes:

Management's description of the service organisation's system and controls.
Service auditor's description of the testing of controls.
Service auditor's opinion on the suitability of the design and operating effectiveness of controls.

What is continuous monitoring in SOC 2 compliance?

Continuous monitoring involves ongoing assessment and improvement of security controls. It helps organisations maintain compliance and identify potential security risks proactively. Key aspects include:

Regular vulnerability assessments and penetration testing
Security incident and event monitoring
Ongoing employee training and awareness programs

What is the cost of SOC 2 compliance?

The cost of SOC 2 compliance varies depending on several factors, including:

Organisation size and complexity
Scope of the audit
Choice of service organisation
Level of internal resources required

How does SOC 2 compliance help businesses?

SOC 2 compliance offers several benefits for businesses:

Enhanced security posture: It helps organisations identify and mitigate security risks.
Improved customer trust: It demonstrates a commitment to data security and privacy.
Increased market opportunities: Many clients require SOC 2 compliance from their service providers.
Reduced risk of data breaches: Strong security controls can minimise the likelihood of data breaches.
Regulatory compliance: It can help organisations meet regulatory requirements, especially in industries like healthcare and finance.

By investing in SOC 2 compliance, organisations can protect their sensitive data, build trust with customers, and gain a competitive edge.

What tools can simplify SOC 2 compliance?

Compliance management software like Hicomply helps with: