SOC Readiness Assessments & Gap Analysis

Published on July 10, 2025 by Bryan Gayhart in SOC Reports

When you’re preparing for a System and Organization Controls (SOC) report, two essential steps lay the foundation for a successful audit: readiness assessments and gap analyses. Whether supporting a well-established enterprise or a high-growth startup, the key is understanding how these steps apply to an organization’s unique environment and how they can be strategically used to meet assurance objectives effectively.

What’s a SOC readiness assessment? 

A SOC readiness assessment serves as a diagnostic tool to evaluate how well an organization’s current control environment aligns with the SOC reporting framework. In many cases, especially with supporting companies pursuing their first SOC report, it’s clear that a solid foundation already exists. Teams often have a strong grasp of their infrastructure, software, and operational processes, but may not be viewing them through the lens of SOC criteria.

And that’s where the readiness assessment provides immediate value. It documents what’s already working and identifies where adjustments are needed. Depending on the organization’s maturity, this could involve anything from mapping existing controls to helping develop formal policies and procedures.

The role of gap analysis

Often conducted alongside a readiness assessment, a gap analysis takes a closer look at how current practices measure up to SOC requirements. For mature companies, such as healthcare or financial services providers, the process is usually streamlined. For newer companies, especially those without documented policies, it’s more comprehensive.

The objective isn’t to overhaul existing processes or introduce burdensome systems. Instead, the goal is to formalize what already works well and create manageable action plans to close any gaps. It’s about moving forward with clarity and confidence.

Start where you are

The starting point for a SOC engagement often depends on the organization’s previous audit or compliance experience. Prior work done under frameworks like PCI, HITRUST, or ISO 27001 can often be repurposed, saving both time and effort. For companies starting fresh, the Barnes Dennig team typically begins with walkthrough meetings to better understand business operations and identify effective but undocumented practices.

Many organizations are already taking the right steps. The next phase is capturing those efforts in a way that aligns with SOC reporting requirements. 

The crawl, walk, run approach

SOC reporting should evolve alongside an organization’s growth and maturity. To support that progression, Barnes Dennig uses a phased approach built around a crawl, walk, run model:

• Crawl: Begin with readiness and gap assessments to document controls and identify necessary steps for improvement.
• Walk: Complete a SOC Type 1 report to reflect control design at a point in time. This provides early assurance to clients and stakeholders.
• Run: Pursue a SOC Type 2 report to demonstrate sustained control operation over time. This is considered the “gold standard” for trust and transparency.

This approach minimizes business disruption, manages risk, and increases the likelihood of a successful audit.

A tailored experience, not a template

No two organizations are identical, and their SOC reports should reflect that. At Barnes Dennig, the approach is intentionally tailored – built on thorough walkthroughs and collaborative discussions to ensure that control language and system descriptions accurately represent how the organization truly operates.

This level of customization not only strengthens audit outcomes but also results in a more accurate and valuable report. Client and stakeholders gain insight into actual practices, rather than a generic overview.

The value of going the extra mile

The work done during readiness and gap assessments sets the tone for long-term success. When evidence is collected thoughtfully and documentation is built with the future in mind, organizations are far better positioned. This preparation supports not just Type 1 reporting, but also the more rigorous Type 2 audit.

Even mature companies benefit from this upfront investment. While it may be tempting to skip directly to a Type 2 report, bypassing the readiness phase and the Type 1 report often leads to missed issues that could have been addressed earlier.

Final thoughts

Whether entering new markets or refining long-standing practices, organizations benefit from taking a strategic and measured approach to SOC readiness. Assessments and gap analyses are more than preliminary steps. They play a key role in building confidence and setting the foundation for long-term assurance.

The goal is not to force a fit into a predefined mold. Instead, the focus is on meeting the criteria in a way that aligns with each organization’s unique operations and goals.

What’s next?

You might also be interested in our SOC reporting FAQ or on-demand video series on DIY SOC reporting. Our SOC reporting YouTube playlist contains dozens of short clips to help you understand and optimize your SOC reporting experience. And as always, our team of top SOC reporting pros are here to help – ready to help align your controls, prepare your report, and position your business for success. Contact us today for a free consultation.