SOC compliance is valuable to have comprehensive security solutions offered in any SaaS ( Software-as-a-service ) concerning the enterprise. SOC report provides to benchmark an organisation concerning the quality, it’s a simple processor which in turn increase customer’s security. Adhering to SOC offers SaaS providers control on complete standards for cloud security, identification and access management, mobile security, vulnerability management and many more. There are three types of SOC Reports: SOC1, SOC2 and SOC3.
What’s SOC1, SOC2 and SOC3?
SOC Reports are third-party test reports that show how the organisation achieves key compliance controls and goals. The goal of these reports is to assist you and your auditors understand the controls built to support operations and compliance.
The concept of SOC reports is based on how the company secures customer data and how efficiently these controls are working. It offers an independent assessment of the product security and privacy control environment of an organisation. The soc report covers the information of controls, the test conducted to reach them, the results achieved on those tests and the overall idea of the plan and operational effectiveness of it.
Each SOC reports is of two types: Type I and Type II. Type I is based on a precise time and Type II is for a particular time duration (annual span).
SOC1 is also known as SSAE No. 16, is the compliance proceeded by Auditing Standard Board (ASB) of the American Institute of Certified Public Accountants (AICPA). It initiates to verify on the company’s internal control over financial reporting.
To identify further about system guard and availability rather than financial reporting, SOC 2 and SOC 3 reports are required.
SOC2 compliance is proposed to understand the security service of the company’s system. It based on how to understand if the design of control meets the benchmark of AICPA Trust Service Principles of Cyber Security. Controls regarding security, availability, processing integrity, confidentiality, or privacy. It is used by an organization that stores, holds, or process the client’s data.
SOC3 report includes the related testing methods as a SOC 2 report, but it ignores the detailed test report and is designed for general public distribution. SOC goal’s to assess an organization’s hosted cybersecurity system and the data collected by the corporation or processed in reference to security, processes, availability, integrity, confidentiality or privacy.
- SOC testing provides to benchmark a company about the quality, its clean methods which in turn improve client’s security.
- Producing a more encouraging infrastructure is required to enhance security into technical manners, development, and plan of security products.
- SOC guarantees the clients about the privacy and security of their data.
- Organizations can deal with the present and future clients with determination and conveys them the belief about their selection of service.
- A competitive advantage in the business.
- If SOC is conveyed the number of on-site audits are overcome and the client queries can be explained.