What’s the fastest way to pass a SOC 2 audit? Simple: you need to plan carefully and avoid taking any shortcuts. Hmm… that might sound paradoxical but we’ve seen way too many businesses attempt to rush through the SOC 2 compliance process and suffer the consequences: delays, high costs and unsuccessful audits.
With a little planning and focus on what matters most, you can get the clean audit report you want without the headaches. So take a deep breath and keep reading – we’ll have you feeling audit-ready in no time.
TL;DR: SOC 2 Audit Timeline
- The SOC 2 audit assesses your organization’s controls for security, availability, processing integrity, confidentiality, and privacy, forming the backbone of the audit timeline.
- Preparation is key — gathering documents and reviewing policies in advance helps keep the audit on track and reduces delays.
- Designating a point person for communication with auditors can help streamline the SOC 2 audit process.
- Leveraging automation tools can speed up the SOC 2 compliance process by automating manual tasks and reducing errors, leading to a smoother and faster audit experience.
- Scytale’s AI-powered compliance automation platform, backed by dedicated GRC experts and the unique AI GRC agent, Scy, makes SOC 2 audits faster, easier, and more efficient, simplifying the entire process.
What is a SOC 2 Audit?
A SOC 2 audit is a detailed assessment of your organization’s controls over its systems that affect customer data security, availability, processing integrity, confidentiality, or privacy. The audit evaluates how well your company meets the relevant Trust Services Criteria (TSC), ensuring you have the necessary policies and procedures in place to protect customer data.
The SOC 2 audit process includes:
- Documentation Review: Auditors look over system descriptions, security policies, and operating procedures to confirm you meet SOC 2 standards.
- Interviews: Auditors speak with key personnel to validate that your SOC 2 controls are implemented properly.
- Testing: Auditors will test a sample of controls to verify they work as intended.
In short, being SOC 2 ‘certified’ helps prove to customers and partners that you’re serious about data security, building trust and helping you win over big clients.
Why Your Business Needs a SOC 2 Audit Report
A SOC 2 audit report is more than just an attestation. As mentioned previously, it’s a testament to your commitment to safeguarding sensitive data and building real trust with customers and key stakeholders. For SaaS companies, it’s often a critical part of your sales cycle and customer retention.
Here’s why you need it:
- Build Trust with Clients: A clean SOC 2 report shows potential customers that you’re a responsible steward of their data.
- Competitive Advantage: Being SOC 2 compliant sets you apart from competitors who may not meet the same rigorous standards.
- Improve Security: The audit process can help identify security vulnerabilities, giving you the chance to improve your overall security posture and prevent costly data breaches.
- Increase Sales: Many customers require SOC 2 compliance as part of their vendor selection process, meaning a SOC 2 report can help you secure new business opportunities.
Having a SOC 2 report can be key to attracting more customers, building long-lasting trust, and safeguarding your reputation in a highly competitive SaaS marketplace.
Understanding the SOC 2 Audit Process
To speed up your SOC 2 audit, it’s important to first understand what’s involved. A SOC 2 audit evaluates your organization’s controls relevant to security, availability, processing integrity, confidentiality or privacy of a system or service. The auditor will check that you have policies and procedures in place to meet the trust services criteria.
- Documentation Review: The auditor will review documentation like system descriptions, security manuals, and operating procedures.
- Interviews: Auditors will interview key personnel and perform walkthroughs to confirm that controls are implemented properly.
- Testing: Auditors will test a sample of controls to ensure they are operating effectively. Provide any accounts, system access or tools needed to perform testing.
How to Speed Up Your SOC 2 Audit: Top Tips
1. Prepare for Your SOC 2 Audit in Advance
The key to speeding up your SOC 2 audit is preparation. Gather all relevant documents like security policies, data flow diagrams, and access control matrices ahead of time. Review them to ensure they are up-to-date and compliant with SOC 2 audit requirements. The less time your auditor spends chasing down information, the faster the audit will go.
2. Appoint a Single Point of Contact for SOC 2 Audits
Appoint a member of your team to be the main contact for the auditor. This point person should be knowledgeable about your security controls and available to provide information or clarification as needed. Having a single contact helps the auditor work more efficiently instead of fielding questions from multiple team members.
3. Know When to Seek Expert Guidance for SOC 2 Compliance
The good news is that with effective planning and a methodical approach to implementing SOC 2, you can be assured of a fast and smooth SOC 2 experience, and that you’re on your way to a successful audit report. However, there’s an important caveat. All the planning in the world won’t take you very far if you lack real world experience with SOC 2 and are not 100% sure of SOC 2 best practices.
But to be perfectly honest, since SOC 2 is such a highly specialized and complex process, it’s rare to find teams that know what to do right off the bat. With the right guidance and access to the appropriate SOC 2 compliance automation tools though, SOC 2 compliance really can be fast and efficient.
In short, you need a guide. That may sound like it adds another layer of cost and complexity to compliance. But actually, the right SOC 2 partner will assure SOC 2 success, while significantly saving you time and costs. To appreciate why, let’s consider some of the ways the right SOC 2 partner can help your business.
4. Choosing the Right SOC 2 Compliance Automation Tools
A big mistake when implementing SOC 2 is to rely on outdated manual processes which often leads to errors and wastes time. Leveraging automation to redefine compliance management and streamline the SOC 2 compliance process makes all the difference but you need the right tools for the job.
At Scytale, we developed software especially designed to overcome the SOC 2 compliance challenges we’ve identified in the real world, and to make compliance efficient and easier to achieve. We also guide our clients on which technologies and methodologies will best help them meet their objectives.
In a nutshell, automating your SOC 2 compliance reduces tons of workloads, and in return, cuts the hours spent on your SOC 2 project significantly.
5. Minimize Oversights in Your SOC 2 Audit
SOC 2 involves long, complex checklists and it’s easy to neglect something or get too focused on irrelevant points.
Once again, your compliance partner should help you find that balance, making sure you don’t miss anything important while ensuring your attention isn’t overly focused on irrelevant details.
At the same time, utilizing a top compliance automation tool like Scytale eliminates the risks of human error and enables organizations to sufficiently track and manage the status of their SOC 2 workflows. Again, reducing time spent on compliance through ensuring simplicity in the process.
6. Why Objective Assessments are Crucial for SOC 2 Success
Your SOC 2 partner isn’t just a GRC expert, they provide fresh objective perspectives on your planning and implementation, which is critical for SOC 2 success.
Scytale’s compliance experts understand exactly what the SOC 2 auditor will be looking for, and therefore can help customers objectively assess whether they meet those expectations. For example, when performing a Readiness Assessment there are often differences of opinion across the organization. Our experts will be able to gauge your actual readiness and ensure you have the knowledge and tools to effectively prepare for the audit.
Receiving hands-on advisory services ensures you utilize your time on relevant processes and tasks for your SOC 2 project.
GET SOC 2 COMPLIANT 90% FASTER
Understanding the Costs of SOC 2 Audit
The cost of a SOC 2 audit can vary widely, depending on several factors such as the size of the company, the complexity of its systems, and the scope of the audit. Generally, businesses can expect to invest anywhere from tens of thousands to over a hundred thousand dollars for a comprehensive SOC 2 examination. This cost covers the auditor’s fees, the time spent preparing for the audit, and any potential investments in improving IT infrastructure and security practices. While the expense may seem substantial, the investment is invaluable for businesses looking to cement their reputation as trustworthy stewards of customer data.
💡 You can learn more about SOC 2 compliance costs here.
What is SOC 2 For, Anyway?
We’ve now covered some of the fine details such as the tools and practical applications, as well as how a good partner makes compliance much more efficient. But there’s also the bigger picture to consider. It’s not something that you can really distill into a few points.
For example:
- What are your goals as a business?
- What is SOC 2 really for in the context of your organization?
- How will you continue to harness SOC 2 to create and sustain real value in your business over the long term?
These aren’t technical questions about implementation; they’re strategic business decisions. To get them right, it’s important to have a strategic compliance advisor who understands exactly what SOC 2 is, what it entails, and its necessity — from both a technical and business perspective.
FAQs about SOC 2 Audit Timeline
How long does it take to get a SOC 2 report?
The timeline for receiving a SOC 2 report can vary but generally takes about 6 to 12 weeks after the audit. How long it takes to get SOC 2 compliant and receive your SOC 2 report depends on your preparation, the complexity of your systems, and the auditor’s schedule. Scytale streamlines the process, making it faster by providing powerful automation features, a unique next-gen AI GRC agent, Scy, and expert guidance every step of the way.
Does SOC 2 expire?
SOC 2 reports are typically valid for one year. After that, you must undergo a new audit to maintain your compliance status. A SOC 2 compliance automation tool like Scytale can assist with continuous monitoring to ensure you’re always audit-ready.
How often are SOC 2 audits conducted?
SOC 2 audits are typically conducted annually. It’s important to stay on top of changes and improvements in your organization to ensure you remain compliant. Scytale keeps you compliant year-round, eliminating the stress of annual audits.
Who performs SOC 2 audits?
SOC 2 audits are performed by third-party auditors who specialize in security and compliance. These auditors must be certified public accountants (CPAs) or a firm authorized to perform these audits. Scytale partners with auditors to streamline the process and reduce overhead.
Can you fail a SOC 2 audit?
Yes, it’s possible to fail a SOC 2 audit if your organization’s controls do not meet the required standards. Failing to provide adequate SOC 2 compliance documentation, evidence, or system access can lead to a failed audit. Scytale’s platform and expert services help ensure your success by guiding you through the audit process and identifying gaps before the auditor does.
