SOC 2 audits are non-negotiable for companies wanting to prove their commitment to data privacy and security to their customers, stakeholders and partners. But, there’s no denying it, they can be tricky. There are a plethora of complex compliance requirements and the standards are forever evolving. It’s no surprise that many companies find the process intimidating and overwhelming. We thought we would help you out by putting a list together of the top five SOC 2 auditing challenges and how you could get around them as seamlessly as possible. So, whether you’re new to SOC 2 or just looking to streamline your next audit, we’ve got some tips on what to look out for and how to overcome the most common challenges with ease.
Table of Contents
1. Understanding the Trust Services Criteria
Challenge:
The SOC 2 framework is based on five Trust Services Criteria (TSC): Security, Availability, Processing Integrity, Confidentiality, and Privacy. For many companies, especially those just getting started on their compliance journey, figuring out what these criteria really mean and how they apply to their company and its operations can be a real challenge. This confusion is often what leads to companies being unprepared for their audit, throwing a massive spanner in the works for the audit process
Solution:
It’s essential to get a grasp on the Trust Services Criteria from the get go. Teams need proper training and resources to fully grasp each criteria and understand how it relates to their day to day operations. Options for training range from workshops and online courses to consultants who specialize in SOC 2. Having access to these resources will help break down the criteria into more digestible pieces. Also, reviewing SOC 2 report examples from other companies can give you a solid idea of what successful alignment would look like. Another suggestion would be having an auditor on board right from the very beginning. They can provide tailored guidance based on your organization’s specific requirements and operations, making the whole process feel a lot less overwhelming.
2. Documentation and Evidence Collection
Challenge:
You’ll always hear the word “documentation” when it comes to SOC 2. This is not only because it’s crucial, but also because pulling together all the necessary documentation is often regarded as one of the biggest headaches! From your policies and procedures to system configurations and logs, it all needs to be recorded. It’s not just about having these things in place, you need to prove that you’ve kept to the Trust Services Criteria consistently over time. If your documentation is a mess or incomplete, it can seriously slow down the audit, or worse, result in a failed audit.
Solution:
Having a solid documentation management system in place is key. It’s recommended to have a central “library” where all your key documents are kept so that everyone on the team can easily access them. This is important to prevent scrambling to find all that important material when the auditors come knocking. Regular internal audits are also helpful, as they help you spot gaps in your documentation before it comes down to the formal audit. Automating evidence collection is another smart move. The market is flooded with tools that automatically track and collect evidence of compliance. These are massive time and effort savers that prevent that is inevitable stress that comes with manual processes.
3. Resource Allocation and Management Buy-In
Challenge:
SOC 2 compliance takes up a lot of resources. Yes, it takes time, but it also requires money and people. It takes a lot of resources to get it right, and what throws a real spanner in the works is when management isn’t fully on board. Often they feel they have other “more important” priorities or are reluctant to allocate the necessary budget to the compliance process.
Solution:
You’ve heard it before – communication is key. It’s crucial to discuss the benefits of SOC 2 compliance in a way that actually resonates with management. A good place to start is by creating awareness around the potential consequences of non-compliance, like security breaches (which can cost upwards of tens of millions) and lost customer trust, and compare that with the investment required to achieve SOC 2 compliance. Show them how compliance can be a competitive advantage, boosting customer confidence and standing out in a crowded market. A lot of customers and investors are not even looking in the direction of companies who don’t have SOC 2 attestation. By getting management involved early in the planning process, they feel a sense of ownership over the compliance efforts. Once they see it as an integral part of the company’s growth strategy, securing the necessary resources becomes much easier.
4. Continuous Monitoring and Improvement
Challenge:
One common misconception is that once you pass your SOC 2 audit is a one and done deal. But, the truth is, maintaining compliance is an ongoing process. Threats are always evolving and regulations are constantly changing, so It is important to continuously monitor your controls and adapt your security practices to keep up. Many companies find this long-term commitment to be the greatest struggle, especially because they have gone into their compliance journey thinking that it is a one-time event.
Solution:
Staying on top of things means building a culture of continuous improvement. Regular internal audits and risk assessments are crucial. Ultimately, they’ll help you spot potential vulnerabilities and areas for improvement before any issues arise. Investing in tools like Security Information and Event Management (SIEM) systems is also a smart move. These systems help with continuous monitoring by providing real-time insights into your security controls and helping you respond to incidents quickly. Also, by staying informed about the latest industry trends and regulatory changes, you can ensure that you’re always ahead of the game and ready to adapt your practices as needed.
5. Engaging with Auditors Effectively
Challenge:
You want a good relationship with your auditors from the very beginning of your compliance journey. That’s what will ultimately make or break your SOC 2 audit experience. Miscommunication, unclear expectations, or a lack of alignment can lead to unnecessary complications and delays during the audit.
Solution:
Open, transparent communication with your auditors from day one is a non-negotiable. From the outset, you want to set clear expectations regarding the audit’s timeline, the deliverables, and any areas of focus that you or the auditors need to be aware of. Regular check-ins throughout the process can also help ensure everything stays on track. Don’t be afraid to ask your auditors questions or raise any concerns that you may have. Asking for SOC 2 report examples from previous audits of companies similar to yours is also a good move. This can give you a clearer understanding of what they’re expecting in terms of documentation and evidence. Keeping the lines of communication open goes a long way in ensuring a smooth, effective audit process.
Conclusion
Preparing for a SOC 2 audit is no walk in the park. But by tackling these five main challenges you’ll be setting yourself up for success and making the process a lot more manageable and seamless.
At the end of the day, SOC 2 compliance isn’t just about passing an audit. It’s about showcasing your commitment to protecting customer data and keeping security front and center in everything you do. By addressing these challenges head-on, you are not only lining yourself up for a successful audit process, you are also strengthening the overall security posture of your company. In today’s competitive tech space, this kind of trust and transparency is everything. So, roll up your sleeves, get your documentation in order, and get going on your SOC 2 compliance journey, because it’s ultimately what will pave the way for the long-term growth and success of your company
