4 Reasons SOC 2 Certification Matters

Understanding SOC 2

SOC 2 (pronounced “sock two”), short for System and Organization Control 2, is a framework developed by the American Institute of Certified Public Accountants (AICPA) to establish and maintain information security policies and procedures. It is specifically designed for technology organizations that handle customer data.

Achieving SOC 2 compliance demonstrates a company’s commitment to stringent security practices and provides clients with the assurance that their sensitive information is handled with the utmost care.

At the core of the SOC 2 standard is the Trust Services Criteria (TSC), an extensive set of criteria that expands on each Trust Services Principle. According to the AICPA: “The TSC are control criteria for use in attestation or consulting engagements to evaluate and report on controls over information and systems (a) across an entire entity; (b) at a subsidiary, division or operating unit level; (c) within a function relevant to the entity’s operational, reporting or compliance objectives; or (d) for a particular type of information used by the entity.”

The AICPA classifies the TSC into five main categories to offer a framework for comprehending the fundamental aspects of the criteria:

• Security: Ensures systems are safeguarded from unauthorized access or disclosure of sensitive data, as well as protection against system breaches that could jeopardize data availability, integrity, confidentiality, or privacy.
• Availability: Ensures that protected systems and information meet the availability and usage standards set by the organization’s objectives.
• Processing Integrity: Guarantees that processing operations are thorough, accurate, timely, and secure, aligning with the organization’s objectives.
• Confidentiality: Ensures that systems and operations adhere to the confidentiality standards outlined by the organization’s objectives.
• Privacy: Ensures that all personally identifiable information adheres to the collection, usage, retention, disclosure, and disposal standards set by the organization’s objectives.

These categories serve as a guide for understanding the breadth of SOC 2 auditing and reporting, providing insight into how auditors approach their assessments.

Why is the SOC2 Standard So Important to ANM?

• Client Trust & Confidence: In an era where data breaches make headlines regularly, clients are increasingly vigilant about the security practices of the companies they choose to partner with. SOC 2 accreditation is a powerful signal that ANM takes the security of client data seriously. It assures our clients that we adhere to industry-recognized security standards, instilling confidence in the reliability and safety of our services.
• Regulatory Compliance: The business landscape is becoming more regulated, with stringent data protection laws and compliance requirements emerging worldwide. SOC 2 accreditation not only aligns ANM with these regulations but also demonstrates a proactive approach to meeting and exceeding industry standards. This not only shields the company from potential legal repercussions but also showcases a commitment to ethical and responsible business practices.
• Internal Process Improvement: The journey towards SOC 2 accreditation involves a meticulous examination of internal processes and controls. This scrutiny not only ensures compliance but also prompts the identification and rectification of potential vulnerabilities. The process acts as a catalyst for continuous improvement, fostering a culture of vigilance and adaptability within the organization.
• Competitive Edge: In a crowded market, standing out is crucial. SOC 2 accreditation serves as a valuable differentiator, setting ANM apart from our competitors. It demonstrates to potential clients that our commitment to security goes beyond mere promises, creating a competitive advantage that resonates with businesses seeking reliable and secure partners.

Conclusion

We know that trust is a precious commodity, and our SOC 2 accreditation is more than just a certification – it’s a testament to ANM’s unwavering dedication to securing client data and maintaining the highest standards of information security.

As we reflect on this achievement, we look forward to providing our clients with the confidence that their data is in safe hands, reinforcing our commitment to building lasting partnerships based on trust and security.