Consumer data is an important thing and maintaining these data is the most important thing to consider. Once a business holds the standard of maintaining the consumer data, it will help the customer to have a peace of mind that their data is in the safe hands.
And these standards are not the same for all the businesses, it depends on the business plan you hold and the clientele that you have. Your business model must comply with the security requirements established by the American Institute of CPAs (AICPA). SOC is nothing but system and organization controls and they are numbered as 1, 2, and 3. These standards apply to the service organizations, and especially to those organizations who store, process and those who have direct contact with the consumer data.
Let’s dive in to the picture of the organizations that need this SOC certification:
There are some reporting options provided by AICPA to be useful for these companies. You need to find out the proper SOC standard that accurately maps with your organization to be compliant. We will break down the information for you to be SOC compliant in this article.
Who need an SOC report ?
SOC is primarily needed for the service organizations and hence the name Service organization controls came for the SOC certification. They are applied to all the common service organizations, and they also apply to other organizations like;
- Software as a service companies (SaaS) which provide programs, applications and websites.
- The organizations that provide BI (Business Intelligence), analytics, and the management services
- Organizations providing customer management services and direct client facing services
- The services that will oversee or provide consultation with the finance and accounting practices
- Managed IT and the security service providers that will help with SOC 2 as well
Above are the provided points that you need to look at when thinking about the SOC certification in karnataka . If your business model maps with any one of the above provided categories of service organizations, you need to comply with the SOC standards. There are still other regulatory guidelines that the AICPA provides within the SOC framework in order to protect the supply chain practices and many more beyond that.
There are some SOC trust services criteria that you need to consider to pass the audit process and they include:
- Processing integrity
Once you decide whether you need to comply with SOC standards or not, you need to make sure about the compliance checklist as well. The organizations must provide a proper framework; they must pick the right report, test for the service principles, ensure that you meet the other compliance requirements of SOC and then finally you need to evaluate your readiness.
This article tells about the organization who needs SOC certification in bangalore and those who need to comply with SOC. Now, there are lot more benefits to be discussed for being SOC compliant. If you are SOC compliant, then you will get an increased customer trust and organizational reputation, improved data protection, higher vulnerability awareness, and an increased security, confidentiality, processing integrity and the most important thing – The Privacy.
Global Quality Services assists you in getting these benefits for your organization and will help you throughout the auditing processes of being SOC compliant.
Global Quality Services will frame your need for meeting the necessary SOC compliance requirements and the SOC checklists.
As a business owner, think of your customers’ needs!!
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