System and Organization Controls

(SOC) Audit

SparkC has been a reliable partner for service organizations struggling to ensure compliance with the complex and ever-evolving security and audit requirements.

What is a SOC Audit?

System and Organization Controls (SOC) audit reports are a series of comprehensive internal controls that organizations use to evaluate risks to their financial and operational access to systems and data. The information included in this report is advantageous to nurture trust, provide transparency, and give users—both clients and their auditors—peace of mind.

 

To support its risk assessments, an organization may request a SOC report from an outsourced service organization. SOC reports assess and address the risks associated with a service organization, its services, and system used to provide the services to organizations. Some specific users of a SOC report may be accountable for procurement and contract negotiation, vendor management, independent auditors of user entities and regulators.

Which SOC Audit Services do you need?

Before we get started, SOC 2 and 3 Audits are American Institute of Certified Public Accountants (AICPA) standards. The AICPA Assurance Services Executive Committee (ASEC) has developed a set of criteria (trust services criteria) to be used when evaluating the suitability of the design and operating effectiveness of controls relevant to the security, availability, or processing integrity of information and systems, or the confidentiality or privacy of the information processed by the systems at an entity, a division, or an operating unit of an entity. In addition, the trust services criteria may be used when evaluating the design and operating effectiveness of controls relevant to the security, availability, processing integrity, confidentiality or privacy of a particular type of information processed by one or more of an entity's system(s) or one or more systems used to support a particular function within the entity. This document presents the trust services criteria.

Trust Service Catergories

  • Security- Information and systems are protected against unauthorized access, unauthorized disclosure of information, and damage to systems that could compromise the availability, integrity, confidentiality, and privacy of information or systems and affect the entity's ability to meet its objectives.

  • Availability- Information and systems are available for operation and use to meet the entity's objectives. Availability refers to the accessibility of information used by the entity's systems, as well as the products or services provided to its customers.

  • Process Integrity- System processing is complete, valid, accurate, timely, and authorized to meet the entity's objectives. Processing integrity refers to the completeness, validity, accuracy, timeliness, and authorization of system processing.

  • Confidentiality- - Information designated as confidential is protected to meet the entity's objectives. Confidentiality addresses the entity's ability to protect information designated as confidential from its collection or creation through its final disposition and removal from the entity's control in accordance with management's objectives.

  • Privacy- Personal information is collected, used, retained, disclosed, and disposed to meet the entity's objectives. Although the confidentiality applies to various types of sensitive information, privacy applies only to personal information

What is your Return-on-Investment (ROI) from a SOC Audit?

  • Better understanding of how risks are addressed in similar organizations in the same industry.

  • Enhanced organizational reputation and overall reduction of risk as a result of ability to correcting weaknesses and gaps identified in the report.

  • Savings in time and money – taking away the hassle of dealing with auditors and non-core activities.

  • Improved customer confidence in your organization’s Trust Service Criteria (security, availability, processing, integrity, confidentiality, privacy).

  • Increased shareholder confidence in designed controls to effectively mitigate risks.

  • In an increasingly competitive environment, a SOC Audit can strengthen your position in the market.

Let us partner with you to keep your organization and your clients assured of the integrity of your services.

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How SparkC will help you

SparkC is a leader and innovator in the cybersecurity industry. We provide assurances about your organization’s controls and a collaborative and effective SOC while performing a thorough assessment. Your organization benefits from this service by:

  1. Strengthening your brand by identifying and rectifying risks and gaps

  2. Helping you understand the health of the controlled environment within your organization

  3. Providing recommendations for improvement

  4. Inspiring confidence with your stakeholders and clients

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