What is a SOC Audit?

Your business is about to land a big client. Everything is going well, but before they sign the deal, they want you to sign off on a Cyber Security Questionnaire. Has this happened to you before? Not only that, but they have also asked you for a SOC Audit, and you don’t even know what it is. So, what is a SOC audit? QuickProtect has the answer so continue reading!

What is a SOC Audit?

A Systems & Organizations Control (SOC) Audit provides information about how a service provider is operating. It’s typically validated by an independent third party and provides insights into security, availability, processing, confidentiality, privacy.

Basically, a SOC Audit is an overview of how the service provider manages its operations.

Further, it acts as an extra level of assurance for a customer doing business with a service provider. Plus, it gives the service provider a set of guidelines to follow to help them protect their business and their customers.

What It Means For Your Clients

So, why would your client want you to have a SOC Audit done? As mentioned before, it might be a part of their cybersecurity questionnaire that they require of all of their partners. Third-party liability has become a big issue lately with breaches affecting Kaseya and SolarWinds, for example.  

A SOC Audit is necessary for service providers providing the following type of outsourcing activities: 

  • Data warehousing
  • Cloud computing
  • Data processing
  • Managed IT 
  • Cyber security services

If your clients rely on your company to store or manage applications or data, you may be required to provide those clients with an audit. This audit considers data security, availability, processing integrity, confidentiality, and privacy.

You may not be in the business of providing cloud services or managing data. But, if you’re storing any data in a cloud environment for your clients, they may want to see your provider’s audit. If you’re hosting their data in your own environment, then you’ll certainly need to complete an audit.  

QuickProtect Can Help

If the thought of a SOC Audit has you worried, you have no need to fear. With QuickProtect, and our parent company Quick Intelligence, we can help you prepare with our SOC Readiness Assessment service. We can also help you write the policies and procedures necessary to ensure you are meeting the audit requirements. Contact Quick Intelligence today!