SOC Report Readiness Assessment & Gap Analysis
Published on by Robert Ramsay, Bryan Gayhart, in SOC Reports, Video
Can’t watch the video? Get the transcript.
In this episode of our SOC Reporting Ask the Experts series, top SOC reporting pros Robert Ramsay and Bryan Gayhart walk through an important but often neglected step in the SOC reporting process. A readiness assessment and gap analysis can help streamline the SOC reporting process – and even lead to a better outcome. They also examine other benefits, how the process works, and what you can expect.
You might also be interested in our SOC Reporting FAQ or in our DIY SOC Reporting video series (available on-demand on our YouTube channel, along with a full series of SOC reporting videos).
Hitting the highlights
Here are a few key points from the video.
- Readiness assessments and gap analyses can vary significantly depending on the organization’s maturity, ranging from startups with minimal controls to more established companies with established IT audits and control frameworks.
- The process often involves mapping existing policies, procedures, and controls to the SOC criteria and identifying gaps that need to be addressed.
- For less mature or startup organizations, the readiness assessment may involve more hands-on work to establish policies, procedures, and controls, and for more mature organizations, it may focus more on mapping existing controls.
- The goal is to set the organization up for success in the eventual SOC Type 2 report, which is the “gold standard” for assurance.
- The approach is tailored to the specific needs and environment of each client – it’s not one-size-fits-all.
