Key Takeaways
Software Cannot Replace Human Oversight: While SOC 2® compliance software can significantly simplify the reporting process, it cannot eliminate the need for an independent professional assessment. Human judgment is irreplaceable for ensuring adherence to all professional and ethical standards.
Maintain Independence from Vendors: When utilizing compliance software or other subcontractors, organizations must ensure they maintain necessary safeguards to ensure independence. The service organization must avoid ceding management responsibilities related to its own control environment.
Foundation is Adherence to Trust Criteria: The core best practice for a successful SOC 2® assessment is to strictly adhere to all Trust Services Criteria (TSC) and professional requirements as established by the AICPA (American Institute of Certified Public Accountants).
Simplifying SOC 2® Reporting
Now that we have examined SOC 2®* compliance software in detail throughout both Part 1 and Part 2 of our blog series, you may be wondering what you can do to simplify SOC 2® reporting when you’re ready to undergo your assessment.
Best Practices for Fulfilling SOC 2®* Requirements
While SOC 2® compliance software can never replace a human assessor, there are certain standards you can ensure that your organization is adhering to on a day-to-day basis.
- Maintain all professional and ethical standards.
- Fulfill all Trust Services Criteria and requirements as outlined by the AICPA.
- Ensure necessary safeguards are in place to ensure independence from subcontractors or other vendors – including your software provider.
- Ensure professional obligations for your service assessor are being met.
- Avoid management responsibilities as it pertains to your own work.
Speak to a Compliance Specialist.
Choose an Experienced Team for SOC 2®*
SOC* reporting can feel time-consuming, expensive, and frustrating – but it doesn’t have to be with the right partner.
The experienced team at Auditwerx is here to be your partner through the compliance process. From your initial readiness assessment to your final report, our team will guide you through every step to ensure a successful report. If you’re ready to get started, contact Auditwerx today.
FAQs
Can SOC 2® compliance software fully replace an independent security assessment?
No, SOC 2® compliance software is a tool designed to simplify reporting and data collection, but it cannot replace the requirement for a professional third-party assessment. A human assessor is still required to provide an opinion on the policies, procedures, and internal controls.
What are the key AICPA criteria that organizations must fulfill for SOC 2®?
Organizations must fulfill all requirements outlined in the Trust Services Criteria (TSC) developed by the AICPA. These criteria form the necessary baseline for evaluating the design and operating effectiveness of security controls related to client data.
How can a business streamline the process of SOC 2® reporting?
To streamline the often time-consuming reporting process, a business should focus on maintaining professional standards, ensuring all Trust Services Criteria are met, and partnering with an experienced compliance team that can guide them efficiently through the initial readiness assessment to the final report.
What is the importance of maintaining independence from a compliance software vendor?
It is essential to maintain independence from any compliance software provider or subcontractor by implementing appropriate safeguards. This separation ensures that the software vendor is not managing or responsible for the service organization’s own internal controls, which would create a conflict of interest during the security review.
About the Author
