Press Release: Reciprocity announced that it had created the complete guide to walk companies through their need for SOC 2 certification success. The compliance certification, as defined by AICPA-Association of International Certified Professional Accountants certifies that the policies, procedures, and processes carried out by Reciprocity Lab meet the SOC 2 principles.
Many service providers today find potential customers demanding proof that there are efficient controls in place. These are controls that can protect their confidential data before a contract is signed or before they can engage with the business. Systems and Organizations Controls (SOC) report is the solution. It is one of the emerging compliance standards that keep data secure.
Ultimate Guide to SOC 2
The Ultimate Guide To SOC 2 highlights the auditing procedure created by the American Institute of CPAs. The report attests that the cloud provider offers security assurance, availability, confidentiality, privacy, and processes integrity. While these standards may not be included in the regulations or the law, they are crucial for any business handling customer data. The certification verifies effective implementation of what the service provider is advertising.
Even with the absence of compliance requirements, SOC2 acts as a written form of assurance showing that the service provider protects their data. This report also offers validation of the most likely crucial concerns in process control and security. It highlights a robust risk assessment from the perspective of an auditor and emphasizes the need for completeness and accuracy of evidence.
Maintaining Confidentiality and Security
With the current global economy, firms are now outsourcing their business operations. The providers must have enough controls when processing customer data. An SOC certificate can ensure that your customers are confident that the auditing maintains high confidentiality and sufficient security. Reciprocity Labs is determined to help businesses handle data privacy concerns.
This guide shows you how the absence of a structured readiness approach can pose a risk or failure to your organization. Conducting a SOC assessment and releasing it with control failures poses the risk of distributing an error-filled report. For many service providers, securing a SOC 2 report is vital, especially if you are looking for better ways of satisfying your customers.
SOC 2 readiness is highly dependent on expert IT risk professionals to help in making the right judgment about control levels that meet the AICPA criteria. This should be viewed as an opportunity to get your company to a more competitive edge.
Embracing a systematic approach to validate control effectiveness and remediate gaps can help you achieve SOC 2 readiness. Because companies are no longer maintaining expensive architects and support personnel, Reciprocity takes up this IT duty off your stuff to allow them to focus more on your company growth.
About Reciprocity Labs
Reciprocity Inc., founded by Ken Lynch in 2009, is based in San Francisco. It develops high-tech consumerized enterprise software for governance, risk, and compliance (GRC) marketplace. We have a hosted GRC solution ZenGRC which helps compliance and audit managers to go beyond spreadsheets for better execution of enterprise programs.
ZenGRC, unlike Archer, is highly flexible and is integrated with Google apps. Our IT consulting services offer quick request responses and are determined to help organizations increase their efficiencies and streamline costs. Visit Reciprocity to get more details about the solutions offered.
Our vision is to build the future of your enterprise, ensuring that your goals reach a beneficial and socially conscience perspective. As always, we are excited to answer all your questions regarding SOC 2 compliance. If you are curious about this certification and how it can benefit your company in meeting your IT resiliency objectives, contact us today.
Wikipedia has the following definition of accounting:
“Accounting or accountancy is the measurement, processing, and communication of financial and non financial information about economic entitiessuch as businesses and corporations.”
Interesting related article: “What is Accounting?“