From Assessment, Readiness, and Implementation to Success

In an era marked by rampant data exploitation and identity theft, it has become crucial for organizations to manage and safeguard customer data against external threats, build trust, and ultimately achieve regulatory compliance. Recognizing this, the American Institute of CPAs (AICPA) established an internationally recognized standard, Service Organization Controls (SOC 2) in 2010 to assist organizations in building robust information security systems.

We are a trusted SOC 2 audit service provider and help navigate businesses to compliance. We help them embrace secure cloud-based controls, deploy effective data security measures, and demonstrate their commitment to customers’ trust. Our IT auditors have helped several business owners, CTOs, and decision-makers to achieve SOC 2 type I and II compliance in record time.

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Unwrapping Our SOC 2 Compliance Audit Service

SOC 2 compliance obliges everyone from data centers and financial firms to SaaS-based businesses or any other entity involved in information storage and transmission to build effective ISMS.
Anchored in five fundamental principles: Security, Confidentiality, Availability, Privacy, and Integrity , our SOC 2 audit services empower organizations to guard against unauthorized disclosure with the following process:

SOC 2 Scope Identification

We begin by understanding your organization’s operations, goals, controls, and current information security systems. This phase involves the identification of sensitive assets, data centers, cloud service providers, trust services criteria, and security controls.

Gap Analysis

Based on the outcomes of the first step, we inspect organizations vis-à-vis SOC 2 requirements through gap analysis. It involves a combination of approaches to identify weaknesses in ISMS that need immediate attention.

Risk Assessment and Profiling

Following gap analysis, we conduct risk assessment of controls, practices, and processes to identify vulnerabilities they possess to organization’s ISMS. This process includes profiling threat severity and insights into areas that require remediation.

Devise and Implement Strategies

Our support goes beyond ISMS analysis to certification. After critical gap and risk analysis, we formulate strategies, policies and procedures in accordance with SOC 2 guidelines, aligning with your organization's goals to consequently improve ISMS effectiveness.

Execution and Remediation

Strategies are only effective when implemented. Recognizing the challenges in this process, our auditors assist organizations in policy rollout by guiding their in-house IT and compliance teams through the strategy execution process till smooth functioning of implemented controls.

In-House Employee Training

Threat prevention is a combined effort, and while our auditors assess organization’s ISMS and devise remedies, they also train employees, stakeholders, vendors, and other affiliates regarding emerging risks and individual responsibilities towards data security.

Controls Pre-Testing

After policy implementation, it is mandatory to test the controls for a certain time period and check their effectiveness for organizations. For SOC 2 Type I, the control trial is up to one month, while for Type II, it ranges between 3 to 6 months.

Internal Audits and Review

In this step, we mimic the actual assessment conducted by regulatory bodies to evaluate the organization’s compliance status. Once all control and policies are in place, we perform a pre-assessment to cross-check adherence with SOC 2 guidelines.

Assessment Reporting

After risk analysis, controls testing, and internal audits, we submit a formal report containing finalized strategies against weaknesses to build effective ISMS. This report also includes processes that have undergone practical, comprehensive, and rigorous trials.

Continuous Monitoring and Support

We adhere to a client-centric approach and extend our continual support in the form of SOC security compliance audit service, even after policy implementation. Our team helps organizations maintain certification as long as they remain connected with us.

Acquire Compliance Readiness with SOC 2 Audit Service

We Assist Organizations in Understanding Regulatory Frameworks, Vulnerabilities, and Readiness for SOC 2 Excellence

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Drawing a Line Between SOC 2 Type I and Type II Standards

SOC 2 compliance brings numerous benefits for businesses, including trust building, threat prevention, and enhancement of overall ISMS effectiveness. It assures the organization’s controls satisfy security, privacy, availability, confidentiality, and processing integrity principles. SOC 2 compliance further has two types depending on the organization’s current data security infrastructures and regulatory frameworks.

Frequently Asked Questions (FAQs)

Ferro Technics is solidifying its position as a leader in IT security, network, and infrastructure certifications as we are extending auditing and consulting services to enterprises of all sizes. Below are the most asked queries to eliminate any remaining ambiguities on the topic.

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What is the Main Difference Between SOC 2 Type I and Type II Audits?

Type I involves evaluating the implementation of security control for a specific period, typically up to a month, and provides a snapshot of the organization’s information security infrastructures. On the other hand, type II tests policies for a maximum of 6 months, offering a more comprehensive assessment of security postures and SOC 2 compliance.

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How Long Does the SOC 2 Audit Service Take for an Organization's ISMS Assessment?

The duration of SOC 2 compliance audits varies depending on the organization’s complexity, gaps, vulnerabilities, and readiness of controls. Generally, type I takes approximately 12 weeks to complete, whereas type II assessments, involving continuous monitoring and testing, may extend over a span of a few months..

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How Often Should Organizations Undergo SOC 2 Compliance Assessments?

The frequency of SOC 2 compliance audits is contingent on evolving industry requirements and the organization’s needs. Typically, type I audits are conducted annually, while the frequency of Type II audits can be extended based on policies, control implementation, and regulatory changes.

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Can Ferro Technics Assist Organizations with Internal Audits and Remediation?

Yes, our all-inclusive SOC 2 audit service offers comprehensive support at every step of the process with understanding the organization's ISMS, goals, and current data security controls. We then run gap and risk analyses to evaluate weaknesses and devise required strategies. Our team assists in policy implementation and conducts internal audits to pre-test compliance status. If any issue still arises, we help organizations take remedial measures to achieve SOC 2 adherence and stay compliant.

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