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Posted July 21, 2020
SOC 2 is a critical framework for cloud computing and technology companies today. As with other compliance mandates, it’s not a simple proposition. It is a complex set of requirements that companies must review and carefully address. However, it does not have to be an overwhelming process. This post breaks down everything you need to know about SOC 2 from its definition and trust principles to its certification requirements and best practices.
SOC 2 defines the criteria for managing customer data, which the American Institute of CPAs (AICPA) bases on five trust service principles, namely security, privacy, availability, confidentiality, and processing integrity.
AICPA designed SOC 2 specifically for service providers who store their customer data in the cloud. That means that it applies to nearly every cloud provider and SaaS company.
SOC 2 audit reports are unique to your organization, unlike other certifications with rigid requirements (such as PCI DSS). Therefore, in line with your specific business practices, you design your controls to comply with either one or more of AICPA’s trust principles.
The internal reports you create provide you and your relevant stakeholders (regulators, suppliers, clients, business partners, etc.) with essential information about how you and your service providers manage data.
The two SOC 2 report types are:
Many organizations consider SOC 2 Type 2 more useful than Type 1 because the auditor verifies that the controls put in place work in an appropriate manner and over a set period. Independent third-party auditors carry out the evaluation to assess an organization’s ability to comply with the five trust principles.
Information security is a going concern for organizations, including those that outsource some of their business operations to third-party vendors (e.g. cloud-computing providers or SaaS). The reason is that mishandled data, especially by network and application security providers, can leave organizations vulnerable to attacks, such as malware installation, extortion, and data theft.
The SOC 2 audit procedure, therefore, ensures enterprises that their service providers can securely manage and protect their data and their clients’ privacy. For security-conscious organizations, complying with the SOC 2 security framework is at best a minimal requirement when looking for a SaaS provider.
Given the fast expansion in the cloud environment and the proliferation of cloud-based security threats, many businesses are having difficulties meeting the framework’s requirements. Below are some tactical best practices that struggling organizations can follow to achieve and maintain compliance:
SOC 2 is not just a technical audit. It also requires companies to establish, follow, and maintain strict data security policies and procedures that encompass the security, processing, availability, processing, and confidentiality of customer data. It ensures that an organization’s information security measures meet the unique parameters of today’s cloud-environment requirements.
As businesses increasingly leverage the cloud environment to store data, a SOC 2 compliance checklist has become a necessity. Thus, you need to demonstrate proficiency across one or more of the following trust principles for attestation:
Your organization must complete an external audit process to certify to the framework. Only a licensed Certified Public Accountant (CPA) can perform a SOC 2 certification. When you pass your certification process, a formal attestation documents it.
The first stage of the process involves you conducting a gap analysis to identify the framework areas you are compliant with and where to make improvements. It is best to also define your security objectives.
Next, identify the security controls that are appropriate for your company and implement them. The final step is auditing. You could first conduct an internal audit before calling an independent auditor for your SOC 2 Type 2 audit readiness report.
A clean SOC 2 report helps service companies and organizations foster confidence and trust with clients when it comes to their service delivery controls and processes. The report adds value to businesses by demonstrating evidence to auditors, clients, and the marketplace that your organization has put cybersecurity controls in place and makes improvements continuously.
No matter your industry (higher education, technology, finance, healthcare, retail, utilities, etc.) GreyCastle Security has got your back. We have built a proven process to verify to auditors and clients that your organization has a robust cybersecurity system in place and a continuous process for implementing and managing it.
At GreyCastle Security, we understand your specific compliance requirements and work with you to satisfy the demand for proof within your controlled environment. We also know what you need to improve the quality of your business. Trust usand our revolutionary approach to help your SOC 2 audit readiness process.
Contact GreyCastle today to get your SOC 2 Compliance report.
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Ho Chin is Chief Financial Officer at GreyCastle Security. In this role, Ho leads Finance, HR, IT and Professional Development. As part of the executive leadership team, Ho works to establish the company’s overall strategy and ensure proper execution of the supporting initiatives pertaining to the above areas of responsibility.
Prior to joining GreyCastle Security, Ho led finance and administrative functions at multiple private equity and venture-backed portfolio companies across multiple industries. Ho holds a bachelor’s degree in Accounting from Pennsylvania State University in Centre County, Pennsylvania and a master’s degree in Business Administration from the Wharton School of Business at the University of Pennsylvania in Philadelphia, Pennsylvania.
Dan Kalil is Chief Executive Officer (CEO) and Board Chairman at GreyCastle Security. In this role, Dan provides vision, leadership and strategies that drive GreyCastle Security’s position as an industry leader. With an emphasis on customer success, Dan’s profitable growth model leverages a customer-centric business approach that balances employee wellbeing and social responsibility.
Prior to becoming CEO, Dan served as the company’s Chief Strategy Officer, during which he supported multiple acquisitions and helped the organization achieve substantial sales growth. In addition to serving as CEO at GreyCastle Security, Dan continues to hold the position of Chief Commercial Officer (CCO) at Assured information Security (AIS) in Rome, New York, a company he co-founded in 2001.
Over the course of the last 22 years, Dan has been committed to advancing the state of cybersecurity and has played an instrumental role in the identification and development of critical, next-generation cyber capabilities. He has held positions in almost every facet of cybersecurity, beginning as a computer forensic examiner and progressing through the management and executive leadership ranks. In addition to co-founding AIS, Dan has facilitated multiple cybersecurity startups, raised investment capital and has served in various lead and support roles toward the acquisition of five companies in the last eight years.
Dan has a bachelor’s degree in Cybersecurity and a master’s degree in Cybersecurity from Utica College in Utica, New York.
Michael Stamas is an entrepreneur, board member, Vice President and a founder of GreyCastle Security. With more than two decades of experience in the technology sector, Mike pairs his management and business development skills with a deep understanding of cybersecurity. Mike brings a unique brand of risk-based advising to GreyCastle clients and prospects.
Mike holds certifications in numerous security and technology related areas, including the Department of Homeland Security and other security technologies like Symantec, Cisco and Microsoft.
Mike plays an active role in his community and serves as a board member and Vice President of InfraGard Albany as well as an advisory board position with the Capital Region YMCA.
Mike has been recognized for his numerous achievements through various honors including the Albany Business Review’s prestigious 40 Under 40 award.
Dan Maynard serves as GreyCastle Security’s Chief Operating Officer, where he currently leads Sales, Marketing and Legal.
Dan has enjoyed a 30+ year career in the Information Technology and Telecommunications industry, during which time he has held various leadership positions for organizations such as Rochester Tel/RCI, Citizens Communications (Frontier), PAETEC Communications, IntegraOptics, tw telecom/Level3 and Centurylink.
In addition to various voice and data technology platforms, he possesses a strong background in leadership development, sales and marketing leadership, transformational leadership and strategic planning. Dan has a thirst for knowledge and as a committed lifelong learner, he encourages and supports professional development initiatives for his teams and continues his involvement with Vistage International.
Dan holds a bachelor’s degree in Biology from Lafayette College in Easton, Pennsylvania, where he was selected as a member of their Athletic Hall of Fame in 2016.
When not at work, Dan enjoys traveling, golfing, attending Utica Comets hockey games and relaxing in the Adirondacks on beautiful Canada Lake with family and friends.
Dan Didier is the Vice President of Solutions and board member at GreyCastle Security.
Dan has been a cybersecurity practitioner for more than 20 years and uses his knowledge and experience to develop cybersecurity solutions that ensure readiness and preparedness.
Dan received his bachelor’s degree in Telecommunications from SUNY Polytechnic Institute in Utica, New York, and graduated Summa Cum Laude with a master’s degree in Information Assurance from Norwich University in Northfield, Vermont.
Our Computer Incident Response Teams (CIRTs) have responded to hundreds of breaches, intrusions, malware infections, thefts, employee investigations, fraud cases and other incidents. Our highly-certified experts have extensive experience in command, coordination and correction of incidents in nearly every industry throughout North America, from local businesses to Fortune 500 international conglomerates.
800-403-8350Francesca LoPorto-Brandow is Director of Culture at GreyCastle Security. In this role, Francesca leads all social responsibility efforts and partnerships and develops effective strategies that promote organizational-wide behaviors and attitudes consistent with a culture of safety, inclusion, teamwork, motivation and high-performance.
Prior to this role, Francesca was Director of People & Culture at GreyCastle and with her leadership, the company’s culture has been recognized by Inc. Magazine as a Nationally recognized Best Workplace, Albany Business Review Best Places to Work and Albany Times Union Top Workplaces.
Before joining GreyCastle Security, Francesca worked as an OD consultant and focused on strategic culture change at The Kaleel Jamison Consulting Group, Inc. for more than six years. There, she facilitated client education sessions, coached leaders and teams, developed and executed consulting interventions and served as strategy project leader on various client engagements. Her work has taken her into Fortune 100 companies and across borders including Panama, Singapore and beyond.
Francesca is a Lean Six Sigma–certified Green Belt, a proud YWCA-GCR board member and in 2013, she coordinated and emceed the inaugural TEDx Troy—a livestream of TEDCity 2.0. Since 2012, she has coordinated and emceed the Troy 100 Forum, a biannual forum for government, religious and community leaders to discuss issues vital to the future of Troy, New York.
Bilingual in English and Italian, Francesca holds a bachelor’s degree in Management and Technology from the Rensselaer Polytechnic Institute’s Lally School of Management & Technology. She was awarded Cybersecurity Recruiter of the year North America in 2017 by the Cybersecurity Excellence Awards.
Jamie Aiello is Senior Vice President of Services and Product Management at GreyCastle Security. In this position, Jamie is responsible for leading a high performing and well-balanced team that is ultimately responsible for the identification, selection, execution and successful performance of our company’s diverse portfolio of cybersecurity offerings.
Prior to joining GreyCastle Security, Jamie has held leadership positions with Annese and Associates, ConvergeOne and BlueSky IT Partners with a focus on delivering cost effective information technology solutions for companies across multiple verticals.
Jamie holds a bachelor’s degree in Political Science from Le Moyne College in Syracuse, New York, a master’s degree in Business Administration from Gardner-Webb University in Boiling Springs, North Carolina and a master’s degree in Computer Information Systems from University of Phoenix in Phoenix, Arizona.
