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How Long Does It Take to Achieve SOC 2?
Achieving SOC 2 is a crucial step for many businesses worldwide, especially those handling sensitive customer data. It not only demonstrates a commitment to security and compliance, but also help to build trust with both clients and stakeholders. However, one of the most common questions that arise during this process is: How long does it take? In this article, we’ll explore the timeline involved in obtaining SOC 2 , and the various factors that can influence this duration.
Understanding SOC 2
SOC 2 (System and Organisation Controls) is an attestation report issued by an AICPA-approved auditor. It evaluates an organisation based on five trust principles: security, availability, confidentiality, processing integrity, and privacy. The process is voluntary but highly recommended for service organisations that manage customer data, or for businesses looking to expand into overseas markets.
Typical Timeline for SOC 2
The timeline for achieving SOC 2 can vary significantly based on several factors, including the size of the company, the complexity of its operations, and the audit readiness of its internal controls. Generally, the process can be broken down into two main types of SOC 2 reports:
- SOC 2 Type I: This report assesses the design of controls at a specific point in time. The typical timeline for obtaining a SOC 2 Type I report is approximately 1 to 3 months.
- SOC 2 Type II: This report evaluates the operational effectiveness of controls over a specified period (usually 6 to 12 months). The timeline for achieving a SOC 2 Type II report can range from 3 to 12 months, depending on how quickly the organisation can implement necessary controls and prepare for the audit. Type II is much more sought after however, as it indicated an extra level of care and attention when it comes to secure business operations.
Factors Influencing the Timeline
Several factors can impact how long it takes to achieve SOC 2:
1. Readiness
The time it takes for a business to become audit-ready is crucial. Organisations with existing compliance frameworks may find it easier and quicker to adapt their processes for SOC 2 compliance.
2. Control Implementation
Implementing the necessary controls based on the selected trust principles can take time. Businesses must define their controls, assess their security processes, and ensure they align with SOC 2 requirements.
3. Auditor Availability
The availability of auditors can also affect the timeline. Scheduling audits well in advance will help prevent delays.
4. Documentation and Evidence Collection
Collecting and documenting evidence of compliance is a critical step in the process. Organisations that have robust documentation practices may find this step quicker than those who need to start from scratch.
5. External Factors
Changes in regulations, business operations, or technology can also impact the timeline. Organisations must remain adaptable to these changes throughout the entire process.
Streamlining the Process with OneClickComply
To expedite the SOC 2 journey, organisations can leverage automation tools like OneClickComply. With its comprehensive compliance management features, OneClickComply helps streamline the preparation process by automating evidence collection and technical implementation, tracking compliance status, and offering built in auditor access to the platform. This not only saves time but also significantly reduces the risk of errors during the process.
Conclusion
In summary, achieving a SOC 2 report can take anywhere from 6 to 12 months, depending on various factors such as organisational readiness, control implementation, and auditor availability. By understanding these factors and utilizing tools like OneClickComply, organisations can navigate the process more efficiently and effectively. Ultimately, obtaining SOC 2 is a valuable investment in building trust with clients and ensuring robust data security practices.
