Home » Cyber Security » Network Security » What Is SOC2 – Components – Benefits To Compliances And Tips To Get Certified

What Is SOC2 – Components – Benefits To Compliances And Tips To Get Certified

Disclosure: All of our articles are unbased, well researched, and based on a true picture of the story. However we do sometimes get commissions from affiliate sites. Our readers get the best discount from buying from our links. Here is our complete affiliate disclosure.
What Is SOC2

The system of controls known as SOC2 is designed to ensure that organizations protect the privacy and security of their customers’ data. It’s a critical compliance measure for companies that store or process sensitive information, such as credit card numbers, personal identification numbers (PINs), bank account numbers, and other types of financial or medical information.

This article provides an overview of SOC2 including the key components and benefits of compliance. We’ve also included a checklist to help you get started on your journey toward achieving SOC2 certification.

What is SOC2 and Why Does it Matter

SOC2 is a comprehensive set of standards that were created by the American Institute of Certified Public Accountants (AICPA). The aim of SOC2 is to ensure that organizations maintain the integrity by protecting the privacy and security of their customers’ data. 

SOC2 is a system of controls that helps organizations protect the privacy and security of their customers’ data. It’s a critical compliance measure for companies that store or process sensitive information. This means that if your company wants to keep track of people’s credit card numbers, personal identification numbers, bank account numbers, or other types of financial or medical information, then you need to be SOC2 certified.

The Important Components of SOC2

There are five key requirements or controls in SOC2: security, privacy, availability, processing integrity, and confidentiality. These requirements help assess an organization’s data security capabilities by focusing on various privacy and security components such as: 

  1. Security: The security control helps organizations protect their customers’ data from unauthorized access, use, or disclosure. This includes implementing physical and technical safeguards to prevent unauthorized access, as well as procedures for managing and monitoring access to data.
  2. Privacy: The privacy control helps organizations protect their customers’ data from unauthorized access or use. It also requires organizations to have procedures in place for obtaining customer consent before collecting, using or disclosing their data.
  3. Availability: The availability control helps ensure that customers’ data is accessible when needed. This can be particularly important for customers who may need access to the information at a time when it’s inconvenient for them to contact your organization.
  4. Processing integrity: The processing integrity control helps organizations ensure that they process customer data as intended, and with reasonable accuracy and completeness.
  5. Confidentiality: The confidentiality control requires organizations to keep customer data confidential. This involves implementing procedures to prevent unauthorized access or disclosure of customer data.

The five controls in SOC2 work together to help organizations maintain integrity by protecting the privacy and security of their customers’ data. If you want to make sure your company is doing everything it can to protect people’s information, then it is crucial for you to become SOC2 certified.

Benefits of Compliance With SOC2

There are a number of benefits to compliance with SOC2. The foremost benefit is that it helps organizations protect the privacy and security of their customers’ data. This can be critical for companies that store or process sensitive information.

SOC2 also helps organizations demonstrate their commitment to data protection. This can be important for customers who are looking for organizations that take data security seriously. Additionally, SOC2 can help organizations improve their data security operations by identifying and addressing any weaknesses in their data security posture.

Finally, compliance with SOC2 can help organizations reduce their risk of financial and legal penalties. This is because organizations that are SOC2 certified have been shown to have strong data protection procedures in place.

Who needs to be compliant with SOC2

The modern threat landscape has compelled people to become more aware of data security and privacy. Specifically, as the cyber threat landscape continues to grow, the need for data protection is a painful awareness amongst people that organizations need to recognize. 

Therefore, organizations handling sensitive customer data need to be SOC2 compliant to gain customers’ trust. This includes companies that store or process credit card numbers, social security numbers, bank account information, and other types of private information.

SOC2 certification is critical for organizations that want to ensure their customers’ data privacy and security. The five controls in SOC2 work together to help organizations maintain their integrity by protecting their customers’ data confidentiality and security.

How to get started on your journey toward achieving certification

If you’re looking to get started on your journey to achieving SOC2 certification, there are a few things you need to know. The first step is to assess your current state and identify any areas where you need improvement. Once you have a better understanding of where you need to focus your efforts, you can start implementing the relevant controls.

It’s also important to note that SOC2 is not a one-time event – it’s an ongoing process that requires regular monitoring and assessment. You’ll need to make sure that your data protection procedures are up to date and compliant with the latest standards.

Finally, it’s important to have a strong leadership commitment to data security and privacy. This means that top management needs to be actively involved in the assessment and implementation of data protection controls.

To get started on your journey toward achieving SOC2 certification, you need to understand where you stand today!

Checklist For Becoming Certified

Assess your current state and identify any areas where you need improvement.

  1. Implement the relevant controls.
  2. Regular monitoring and assessment are required to maintain compliance.
  3. Strong leadership commitment to data security and privacy is necessary.
  4. Make sure your data protection procedures are up to date and compliant with the latest standards.
  5. SOC2 is not a one-time event – it’s an ongoing process that requires regular evaluation and review.
  6. Compliance with SOC2 is achieved at different levels depending on the scope of the services provided.
  7. The more sensitive your customers’ data is, the higher the level of certification you should aim for.
  8. In order to get certified, you need to undergo an independent security audit from a qualified party.

Here is all you need to know about SOC2: what it is, who needs to be compliant, and how you can get started on your journey toward achieving certification.

Final Words

Compliance with SOC2 can help organizations reduce their risk of financial and legal penalties. This is because organizations that are SOC2 certified have been shown to have strong data protection procedures in place.

If you’re looking to get started on your journey to achieving SOC2 certification, there are a few things you need to know. The first step is to assess your current state and identify any areas where you need improvement. Once you have a better understanding of where you need to focus your efforts, you can start implementing the relevant controls.

Photo of author
Waqas is a cybersecurity journalist and writer who has a knack for writing technology and online privacy-focused articles. He strives to help achieve a secure online environment and is skilled in writing topics related to cybersecurity, AI, DevOps, Cloud security, and a lot more. As seen in: Computer.org, Nordic APIs, Infosecinstitute.com, Tripwire.com, and VentureBeat.

Leave a Comment