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SOC for Cybersecurity

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SOC for Cybersecurity examinations or “audits” are relevant for organizations across all industries that benefit from communicating their commitment to managing cybersecurity risk to their customers and stakeholders.

Below is an overview of the SOC for Cybersecurity audit process along with answers to commonly asked questions. Contact us for more information or to schedule a free thirty minute consultation with our experienced IT Security & Compliance Team.

How SOC for Cybersecurity Reports Work

SOC for Cybersecurity is an entity-wide assessment of your organization’s cybersecurity risk management program, providing a trusted framework to communicate your data protection and information security capabilities. The report details your cybersecurity efforts according to a formal risk management framework in such a way that executives, investors, and other business partners can understand them.

Similar to SOC 2 reports, SOC for Cybersecurity reports revolve around fundamental topics as determined by the American Institute of Certified Public Accountants (AICPA). Companies select Cybersecurity Objectives based on their internal operations and the expectations of their customers and stakeholders. An example of Cybersecurity Objectives includes:

  1. Availability: Enabling timely, reliable, and continuous access to and use of information and systems to support operations
  2. Confidentiality: Protecting information from unauthorized access and disclosure, including means for protecting proprietary information and personal information subject to privacy requirements
  3. Integrity of Data: Guarding against improper capture, modification or destruction of information
  4. Integrity of Processing: Guarding against improper use, modification, or destruction of systems

Similar to SOC 3 reports, SOC for Cybersecurity reports are general use and can be broadly communicated and published on a company website. Organizations leverage SOC for Cybersecurity reports to communicate the effectiveness of their cybersecurity risk management program, building trust and confidence in the market.

Why You Should Consider a SOC Report for Cybersecurity Report

  • 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 certified external evaluation. While cybersecurity assessments can be performed by a range of IT consulting firms, SOC audits can only be performed by licensed audit and IT professionals at an accredited Certified Public Accountant (CPA) firm, an accreditation designated by the AICPA. SOC reports are trusted by stakeholders, customers, and auditors because they are held to a high standard established by the AICPA and performed exclusively by individuals that are licensed, trained, and independent.
  • Up-to-date 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

Guarantee an efficient SOC audit process with the help of the highly experienced team at Maxwell Locke & Ritter. Contact us today for more information or to schedule a free thirty minute consultation with the team.

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