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SOC for Cybersecurity Audit Reports

open laptop sitting in a neutral white living roomYour company’s success hinges upon your clients’ and vendors’ trust in you. You know your data protection and information security are critically important—and SOC audits for cybersecurity are a trusted way to demonstrate your capabilities.

At Maxwell Locke & Ritter, our experienced staff helps companies both large and small with audits, IT security and compliance, and much more. Discover how your company could benefit from a SOC for cybersecurity report.

How SOC for Cybersecurity Reports Work

A System and Organization Controls (SOC) report for cybersecurity is a detailed analysis of a company performed by a Certified Public Accountant (CPA). These reports detail your cybersecurity efforts according to a strict risk management framework in such a way that executives, investors, and other business partners can understand them.

There are three major types of SOC reports, the differences of which we’ve detailed here. The SOC audit that is primarily focused on cybersecurity is SOC 2.

These SOC for cybersecurity reports revolve around five fundamental controls as determined by the American Institute of Certified Public Accountants (AICPA): the Trust Services Criteria. Your CPA will thoroughly evaluate your systems based upon the following controls:

  1. Security: Your networks are protected from any unauthorized access, internally and externally.
  2. Availability: Your protected information systems are constantly accessible by authorized sources.
  3. Processing Integrity: Your processing is accurate, timely, valid, authorized, and complete.
  4. Confidentiality: Confidential information is protected according to a clear set of objectives.
  5. Privacy: Any personal information is collected, retained, used, disclosed, and disposed of in conformity with an agreed-upon privacy notice.

A thorough SOC for cybersecurity report should be completed at least annually, as cybersecurity standards can drastically change with an advent in information technology. You should also undergo a SOC 2 audit before any sale, merger, acquisition, or other events that may place your company under scrutiny.

Why Your Business Should Consider a SOC Report for Cybersecurity

  • Instill trust in your clients and stakeholders. It’s one thing for your company to say it has advanced cybersecurity, and it’s quite another to prove it. A SOC for cybersecurity report is a method clients and stakeholders can understand and trust.
  • Independently managed, certified external evaluation. Only a CPA who has received their designation from the AICPA can perform a SOC audit. This independent evaluation means your report will not be clouded by internal bias.
  • Up-to-date, constant evaluation. The AICPA constantly updates SOC for cybersecurity guidelines. Their risk management frameworks keep up with the times, making them a great way to demonstrate your company’s efforts and integrity.

Maxwell Locke & Ritter Can Help

Our team of experienced CPAs is highly qualified to perform your SOC for cybersecurity audit. We will externally review and analyze your systems according to the highest standards of compliance. If you’re interested in obtaining a SOC report, or if you have further questions, do not hesitate to contact us today.

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