Having to navigate through a Service Organization Control (SOC) engagement may cause you and your team some business anxiety. Aside from the time and effort it requires, it is often a stressful process because of fear of the unknown. There are ways to make the auditing process go smoothly and efficiently. Below are four tips from our team at Auditwerx to help your organization take the stress out of SOC reporting.
To successfully navigate a SOC engagement, a business needs to work together as a team. The auditors executing the review need to work with executive management to ensure proper protocol is followed. In some cases, the auditor and management team may determine that there is a need to improve or develop policies and/or procedures. Auditwerx team members work across departments to share knowledge and enhance our assessment services for our clients. The end result is a secured, authentic process that addresses our clients concerns and provides efficient solutions for a successful reporting process.
It is important to understand and define your expectations before selecting the type of assessment for your business. Selecting the appropriate report is often the most challenging part of the engagement process. Furthermore, you should be thinking about situations like does your business need some assistance navigating through the process, or do you simply need the report itself? Knowing the capabilities of your internal team will help management and your audit team determine a timeline and realistic expectations for the engagement before starting the process.
There are numerous tools and processes that a business can implement to ensure that their data is secure. Data encryption, HTTPS servers, firewalls, intrusion detection applications and other technology is readily accessible for businesses today. Sometimes however, the error lies not in the tools we use, but in the user itself. While it is difficult to completely eliminate human error, there are several steps that should be added to a procedure to help negate this. Always remember to document your processes and procedures. We find that while many of our clients are doing the appropriate things to mitigate risk, they miss the mark when it comes to documenting these actions.
Just as it’s important that your clients trust you, it’s important for you to trust your auditor. SOC reporting requires in-depth knowledge of both the SOC reporting guidelines and the technical controls relating to your specific business operations. The Auditwerx team of professionals will ensure the highest level of personal dedication and professional excellence to your engagement. Our team delivers exceptional services through a balanced blend of skills; service-driven, industry-specific, technical, and business and experience. Learn more about our services.
If you would like to speak with a specialized auditor, contact Auditwerx today for more information and a free quote.