A SOC readiness assessment delivers a roadmap that your business can follow to a successful SOC examination. The Auditwerx engagement team will analyze your processes from beginning to end, explaining what controls should be in place at each step, and evaluating whether your existing controls are in line with best practices. It is a crucial first step to a successful SOC audit.
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Forgoing a SOC readiness assessment could cause big problems during your SOC audit. Not having the proper controls in place could delay your examination or cause your organization to fail. You may receive qualifications or exceptions due to missing or broken controls, making your systems look less than trustworthy to your clients.
A SOC readiness assessment helps you avoid these headaches by making sure your systems have the proper controls in place before your SOC examination starts.
We have helped countless organizations understand their current internal measures and improve upon them. During the readiness process, we assess the data flow of the services, identify controls, and provide a gap analysis of controls that may need implementation or improvement.
The key to completing a SOC report that will be useful to your clients is for the auditor to thoroughly understand your company’s array of service offered, and more importantly, those that are subject to the SOC examination. A SOC report should not be a one size fits all attestation. This phase of the readiness assessment narrows the focus of this process and increases efficiencies in our questions and testing, which means less time is required from your valuable staff.
Once the “in-scope” services are determined, the next step is to clarify both the processes and systems that support those services in order to establish the system boundaries and what is included in the SOC report. This step further narrows the focus and spotlights only those critical areas that are important to the in scope control environment while eliminating information not applicable to the scope of the report.
The next step is pinpointing key controls and, even more importantly, any control gaps. Control gaps consist of either controls that are not in-place (and should be) or controls that are ineffective. Identifying control gaps is critical because those gaps will need remediation. The “fix” could include a variety of things such as a new control or simply maintaining audit evidence like log files that are often purged but will need to be maintained over the reporting period.
Auditwerx utilizes a web-based, third-party, Engagement Management Platform (EMP). This solution acts as a secure portal that provides project completion and deadline driven status of the requests needed to complete the testing. This tool provides great clarity to clients in where the process is and what items are outstanding. The portal is inter-active and provides a messaging center and restriction of access to specific requests to authorized users.
This intuitive solution standardizes the information collection process, enhances client experiences while securely exchanging the necessary information and automatically managing workflow. Our proven process increases efficiencies, in a secure platform that enhances the client experience.
IT general controls typically include, but are not limited to, six key factors in a SOC 1 report.
A gap assessment from Auditwerx can help identify any weaknesses in your controls before your SOC 1 audit. An efficient gap assessment means you are one step closer to a successful SOC 1 report.
Controls around organization structure; policies and acknowledgements; employee background checks; management meetings/risk assessment.
Controls around physical access (understanding if servers are onsite or if third-party data centers are used).
Controls around logical access granted, modified, and removed, as well as privileged; passwords; websites; infrastructure (firewalls, SFTP, VPN, AV).
Controls around monitoring software and subservice organization monitoring, if applicable.
Controls around process for internally-developed software (authorization, testing, approval, segregation of duties, source code); patching; infrastructure changes.
Controls around the backup process (configurations, alerts, logs).
“…Auditors were extremely courteous and patient with a great sense of urgency when it was needed the most. We would highly recommend Auditwerx services to organizations of all sizes and requirement complexities.”
Your clients are looking for assurance in regards to 5 key aspects of your systems. A SOC report will offer assurance in the reliability of your systems and related controls.
A gap assessment from Auditwerx can help identify any weaknesses in your controls before your SOC 2 audit. An efficient gap assessment means you are one step closer to a successful SOC 2 report.
Information and systems are protected against unauthorized access, unauthorized disclosure of information, and damage to systems.
Information and systems are available for operation and use to meet the entity’s objectives.
Information designated as confidential is protected to meet the entity’s objectives.
System processing is complete, valid, accurate, timely, and authorized to meet the entity’s objectives.
Personal information is collected, used, retained, disclosed, and disposed to meet the entity’s objectives.
Our handy guide, “Adding it Up: What Type of SOC Report Do I Need?” is a great starting point to determine what kind of SOC report best fits your company’s business and compliance needs.
When you’re ready to speak with an experienced team about your reporting needs, Auditwerx will be here for you.
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It’s important that your auditor has the knowledge to help your service organization navigate the ever-evolving world of SOC compliance. Let’s take a look at two recent changes, SSAE No. 21 & SSAE No. 22.
Understand the controls analyzed during a SOC 1 examination
Get a better understanding of the kinds of controls the could be examined during a SOC 1 report.
