Key Takeaways
- Prioritize Thoroughness, Not Speed: A suspiciously short turnaround time for a compliance report is a red flag. A reliable partner will factor in enough time for a thorough review and a deep understanding of the organization’s unique control structure, system information, industry, and security needs.
- Beware of Subpar Pricing: Firms offering services well below standard rates are likely not dedicating the necessary time and effort to provide a proper report. Choosing a cheaper, subpar report poses a substantial risk to the organization’s security and compliance posture down the road.
- Insist on Customized Reports: Since compliance reports (like SOC® reports) contain proprietary client information, they should be tailored to each client’s specific security needs. Generic template language that lacks specific detail about the client’s system or controls is non-compliant with AICPA standards.
Choosing a Security Compliance Partner
Choosing a security compliance partner can seem like just one more thing to deal with when embarking on your compliance journey, but it doesn’t have to be a daunting task.
Consider these 3 aspects when doing your due diligence in choosing a compliance partner, whether you are new to the compliance reporting process or looking for a new partner:
1. Report Timeframe
Has your provider of choice suggested a suspiciously short turnaround time for your report?
Be sure to question any provider that does not factor in enough time for a thorough review of your system information and understanding of your unique control structure.
You want to make sure your firm has a clear understanding of your organization, industry, and security needs. All SOC* reports, and other frameworks, rely on a complete review of your systems and controls.
Speak to a Compliance Specialist.
2. Report Pricing
As the saying goes, you get what you pay for.
While at first it may seem to be a benefit if your firm of choice offers services well below standard rates, there is likely a reason why. Chances are they are not putting in the time and effort necessary to provide a proper report.
A subpar report may pose a substantial risk to your organization down the road.
3. Sample Reports
Because SOC* reports contain proprietary client information, they should be tailored to each client’s individual security needs.
While standardized sections do exist, Auditwerx does not provide example reports due to this reason. Be wary of reports that have generic template language that may result in your logo added on the cover page, with no specific language regarding your system or controls. These types of reports are not in compliance with the AICPA standards.
Partner with an Experienced Assessor
When you’re ready to partner with an assessor that has your organization’s best interests in mind, it’s time to contact Auditwerx. Our experienced team will provide thorough and accurate security reporting solutions from SOC* to PCI DSS and more.
If you are ready for a true security reporting and compliance partner, contact Auditwerx today.
FAQs
Organizations should question any provider that suggests a suspiciously short turnaround time, as a thorough review requires enough time to properly understand the organization’s unique control structure and system information.
Firms offering services well below standard rates may not be putting in the necessary time and effort, which can result in a subpar report that poses a substantial risk to the organization later on.
Compliance reports, particularly SOC® reports, must be tailored to each client’s individual security needs. Reports with generic template language that lack specific language regarding the client’s system or controls are not in compliance with AICPA standards.
The goal is to ensure the compliance partner has a clear understanding of the organization, industry, and security needs, as all compliance frameworks rely on a complete and accurate review of the organization’s systems and controls.
About the Author
Auditwerx Team
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