Key Takeaways
Scope Defines the Price: The greatest factor influencing the cost of a SOC* assessment is the scope—the number, size, and complexity of the services and systems included in the review. Properly defining the scope upfront is crucial for accurate pricing.
Report Type Impacts Assessment Length: A Type 2 report generally requires a larger budget than a Type 1 report. This is because a Type 2 validates the operational effectiveness of controls over an extended period, requiring more in-depth testing and time from the assessment team.
Readiness Prevents Costly Amendments: Investing in a SOC* readiness assessment helps ensure a predictable cost. These preparatory activities help eliminate the discovery of unexpected needs or security control gaps that could otherwise lead to scope expansion and costly amendments later in the reporting process.
SOC* Reports Don't Have to Be Overwhelming
The thought of undergoing your next SOC* assessment can be overwhelming. It can seem like there is too much to do, but one thought that might come to the forefront is price. How much does a SOC* report cost? Let’s break it down.
Speak to a Compliance Specialist.
SOC* Report Cost: Pricing Considerations
When it comes to compliance initiatives, many organizations find it difficult to balance customer-lead requirements and the bottom line. At Auditwerx, we’re here to eliminate security compliance headaches, at a price point that makes sense for your business.
- Fixed-Fee Firm – Unlike most firms, Auditwerx is a true fixed fee firm. Our goal is to provide a service that will not only improve your operations, but also, result in a significant ROI.
- Scope Expansion – Very few of our clients experience amendments. When necessary, they are usually the result of a scope expansion. Proper SOC* readiness processes can help eliminate the discovery of additional needs.
- Flexible Structure – Our experienced assessors understand what your organization needs from a SOC* report, and our low overhead ensures that our pricing is based on your need.
Experienced Assessment Team
Our goal is to deliver the efficient compliance assessments you need, at a price that makes sense for your business. If you are ready to learn more about our process or pricing, contact us today. Our experienced team can help accurately determine to scope of your assessment so you understand how much your SOC* report will cost.
FAQs
What are the primary factors that influence the total cost of a SOC* report?
The price of a SOC report is influenced by several factors, including the scope (the size and complexity of the in-scope systems), the type of report requested (Type 1 or Type 2), the level of the organization’s control maturity, and the fee structure of the compliance firm (e.g., fixed-fee versus hourly).
How does using a fixed-fee firm impact the total expenditure for a SOC* engagement?
Working with a fixed-fee firm offers organizations cost predictability, eliminating the uncertainty often associated with compliance reporting. This structure helps organizations balance the compliance requirements against their budget, ensuring the project’s price point makes sense for the business without unexpected hourly billing.
Why does defining the scope accurately help contain SOC* reporting costs?
Accurate scope definition is essential because unexpected additions to the systems, services, or personnel being reviewed (known as scope expansion) are the primary reason for price changes during the compliance process. Proper readiness activities help to avoid this costly discovery phase.
What is the value of a SOC* Readiness process in controlling expenses?
A SOC readiness process is valuable because it identifies security control weaknesses and processes that need to be addressed before the formal assessment begins. This proactive approach allows the organization to remediate issues efficiently, preventing issues that would otherwise lead to a problematic final report and subsequent expensive follow-up work.
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