Primer on SOC for Cybersecurity
As cybersecurity risks grow, organizations are under increasing pressure to prove they can safeguard sensitive data and systems. The System and Organization Controls (SOC) for Cybersecurity report provides a standardized way to demonstrate an organization’s commitment to robust cybersecurity practices.
Here’s what you need to know about SOC for Cybersecurity.
What Is SOC for Cybersecurity?
SOC for Cybersecurity is a voluntary reporting framework developed by the American Institute of CPAs (AICPA) to assess and communicate the effectiveness of an organization’s cybersecurity risk management program. Unlike SOC 2, which evaluates specific trust service criteria such as security and confidentiality, SOC for Cybersecurity offers a comprehensive, organization-wide assessment of cybersecurity posture.
Core Components of a SOC for Cybersecurity Report
- Description of the Cybersecurity Risk Management Program
This section outlines the organization’s cybersecurity system, operational boundaries, and the processes in place to manage cybersecurity risks. It includes details about risk assessment, monitoring, and response strategies. - Management’s Assertion
The organization’s management provides a statement affirming the accuracy and completeness of the cybersecurity risk management program and its alignment with established criteria. - CPA’s Opinion
An independent auditor evaluates the organization’s cybersecurity risk management program and provides an opinion on its adherence to AICPA criteria.
Why SOC for Cybersecurity Matters
SOC for Cybersecurity reports offer several benefits, including:
- Building Stakeholder Trust: Demonstrates transparency and a strong commitment to protecting data and systems.
- Mitigating Risks: Identifies and addresses weaknesses in cybersecurity controls, reducing vulnerability to threats.
- Gaining a Competitive Edge: Positions your organization as a leader in cybersecurity practices.
- Supporting Regulatory Compliance: Provides evidence of diligence that may align with regulatory requirements like GDPR or HIPAA.
Who Should Consider SOC for Cybersecurity?
SOC for Cybersecurity is particularly relevant for:
- Organizations that handle sensitive data, such as financial institutions or healthcare providers.
- Technology companies offering SaaS solutions or operating in industries under heightened scrutiny.
- Businesses undergoing mergers or seeking funding, where stakeholders increasingly expect robust cybersecurity assurances.
How SOC for Cybersecurity Differs from SOC 2
While SOC for Cybersecurity provides a broad overview of an organization’s cybersecurity program, SOC 2 focuses on evaluating specific trust service criteria like security, availability, and confidentiality. Additionally, SOC for Cybersecurity is geared toward external stakeholders, whereas SOC 2 is often intended for customers or business partners and may be a contractual requirement.
Steps to Achieve a SOC for Cybersecurity Report
- Define the Scope
Identify the systems, processes, and risks to be evaluated in the report. - Engage a CPA Firm
Partner with a qualified auditing firm experienced in SOC for Cybersecurity assessments. - Prepare Documentation
Document policies, controls, and processes that make up your cybersecurity risk management program. - Undergo the Audit
Collaborate with the CPA to provide evidence and address any findings during the review. - Distribute the Report
Share the final report with stakeholders to demonstrate your organization’s cybersecurity strength.
Overcoming Common Challenges
Obtaining a SOC for Cybersecurity report can be challenging. Many organizations struggle with limited documentation, resource constraints, or keeping up with evolving cybersecurity standards. Solutions include conducting a gap analysis, leveraging automation tools to streamline evidence collection, and engaging compliance experts to guide the process.
How Koop Can Help
At Koop, we simplify compliance by automating time-intensive tasks and offering expert guidance. Whether you’re preparing for a SOC for Cybersecurity audit or enhancing your overall compliance program, Koop equips you with the tools and expertise to succeed.
SOC for Cybersecurity is more than a report; it’s a signal to stakeholders that your organization prioritizes data protection and risk management. By adopting this framework, you can enhance trust, mitigate risks, and stay competitive in today’s digital-first environment.
