How to Perform a SOC 2 Audit Checklist

Conducting a readiness assessment is vital in order to be ready for a SOC 2 audit. This process typically lasts several months and involves internal teams adopting information security best practices.

Your team must first define the scope and select Trust Services Criteria (TSCs). Options could include Availability, Processing Integrity, Confidentiality or Privacy.

Identifying the Scope of the Audit

First step of an SOC 2 audit should be identifying its scope. Trust Services Criteria (formerly Trust Service Principles) laid out by AICPA provide guidelines for audits that meet this standard, and these audits focus on five categories – Security, Availability, Processing Integrity, Confidentiality and Privacy being the five core ones with Security being most essential in terms of protecting data against unauthorized access, theft misuse or damage.

SOC 2 reports assess the long-term effectiveness of control mechanisms over time, in contrast to SOC 1 reports which only offer snapshots at certain moments in time. To select an audit scope that suits your customers and their expectations from you as service provider.

Decide the duration of the audit as well. A SOC 2 examination typically covers 12 months known as an “audit run window or period of performance.” To prepare for a longer audit, an internal assessment or readiness assessment could serve as a warm-up test before your formal audit takes place.

Reviewing Documentation of Internal Controls

One of the first tasks you should perform when beginning to audit internal controls is reviewing documentation related to them. This can help you to assess which areas will be covered during an audit and set goals accordingly.

As this will give you a clearer idea of which Trust Services Principles (renamed from Trust Service Criteria in 2018) to include and how broad or narrowly scope your audit should be, for instance if your company only provides one service then focusing on just that may make more sense rather than trying to audit all five principles simultaneously.

Before hiring an auditor to conduct your official SOC 2 audit, conducting a gap or readiness assessment should be done as part of an overall SOC 2 compliance strategy. You can conduct this on your own or use software tools like ZenComply which features a prescriptive workflow designed to assist in selecting frameworks, scoping requirements and controls and streamlining the process – making the whole process quicker and less expensive than hiring external help alone.

Performing a Self-Assessment

If a customer requires that your company provide them with a SOC 2 (formerly SSAE 16) audit report or industry regulations require it, or your internal controls fail, you’ll need solid documentation describing your internal controls that protect clients’ financial data from unauthorized access, disclosure and damage.

Before your team begins preparing for an audit, it’s essential that they conduct a self-assessment. How closely does your existing systems match up to SSAE 18 requirements? Recognizing any gaps is the first step toward closing them prior to an audit.

As part of your audit process, it is also necessary to determine the scope. This could involve your physical locations, testing periods and which personnel should participate. Furthermore, you’ll want the auditor to review various trust services criteria including security, availability, processing integrity and confidentiality in order to provide accurate reporting that meets deadlines. Choosing an adequate scope will ensure accurate and timely reporting is achieved.

Finding a Provider

No matter the report type you need, finding an auditor who can guide your company through it is critical. A great auditor will work closely with you to establish its scope, visit your site for interviews and walkthroughs, document testing results, and provide a thorough report to you upon completion.

Now more than ever, business must remain transparent about their security practices. A SOC 2 audit can be an excellent way of doing that – by understanding what needs to be included and following the steps listed above, your organization can successfully prepare for one!

TrustNet can assist with SOC audits – contact us now if you need assistance meeting compliance requirements! Our prescriptive workflow guides you through choosing frameworks, scoping requirements and controls and scheduling an audit in under 30 minutes!