Overview

We provide comprehensive SOC 2 consulting services, helping organizations design, implement, and optimize controls for security, availability, processing integrity, confidentiality, and privacy. Our expertise ensures compliance with SOC 2 standards, enhancing trust and protecting critical business data.
SOC 2 consulting covers risk assessments, gap analysis, implementation guidance, training, policy development, penetration testing, control measurement, and internal audit, ensuring organizations achieve and maintain SOC 2 certification while strengthening their cyber security posture.
A team of consultants led by the Principal Consultant provides you the most comprehensive consulting experience leading to successful SOC 2 implementation and certification.
Contact us to get started.

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SOC 2 Consulting Engagement Phases

Here is a brief overview of all the phases involved in implementing SOC 2 attestation.

Phase I - Scope of SOC 2 compliance

Scoping involves the identification of:

Identification of sensitive data and its flow including lifecycle
Information systems in scope
Business locations
Data Center and Cloud Services Providers
Users of the report

Phase II -Gap Analysis and Risk Assessment

Based on the outcome of phase I, a combination of approaches is applied by Coral SOC 2 consultants to conduct the gap analysis.

A session with each organization team to asses their current scope of work and their controls
Determination of applicable, and not applicable controls
Detail risk assessment based on the flow of the information
A status of each control requirement in red, orange and green - determining their current status.

Coral consultants will provide detailed recommendations for each identified gap with their recommendations

Phase III - Design, Documentation and Risk Monitoring

Design involves control allocation responsibility to organization stakeholders.
Documentation involves drafting 20+ policies and procedures and facilitating their implementations
Risks identified in the gap analysis are discussed in detail along with their treatment plans.

Phase IV - Training & Brainstorming Sessions

SOC 2 requires employees' involvement in defining their internal security controls.
This is achieved by a combination of training and brainstorming sessions.
Each documentation or risk undergoes brainstorming with staff to derive a ‘best-fit’ solution for the organization.

Phase V - Control Testing

After the policies and risks are mitigated, depending upon client report requirements, controls are tested for a period of time.

For instance, at least a month of testing is required for Type 1, whereas for Type 2, anywhere between 3 to 6 months of testing is required.
Coral consultants assist the client in testing these controls to ensure the designed controls are not only defined well but are also effective.

Phase VI - Internal Audit and Management Review

Internal Audit involves verifying the effectiveness of the implemented lifecycle controls through interviews with physical and system verification of applicable controls, as it applies to the organization control design.
A formal report is published for the management committee.
We facilitate reviews with the management to ensure that the initial SOC 2 policy objectives and goals are achieved.

Summary

At this stage:

As a result of undergoing these phases, Coral has assisted the client in a successful governance program that is now compliant with SOC 2 requirements.
Each of the applicable SOC 2 requirements has been completed by a combination of one or more of policy, responsibilities, reports, records, technology, and automation.
The organization now has a plan that demonstrates its continued commitment like any other business function
At this stage, the organization is ready to invite a CPA firm to perform an independent assessment.

Phase VII - CPA Attestation

The chosen CPA firm performs an audit, which includes the following phases:

Documentation Review
Interviews
Testing control effectiveness

Once the CPA firm is satisfied with the completeness of the controls, a format report is issued to the client detailing the controls being tested with their test result

At this stage, the client is officially SOC 2 attested.

Questions

Seek a one to one session with our Principal Consultant, who will answer your questions to get started.

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SOC 2 Service Trust Categories

Security. Information and systems are protected against unauthorized access, unauthorized disclosure of information, and damage to systems that could compromise the availability, integrity, confidentiality, and privacy of information or systems and affect the entity’s ability to achieve its objectives.
Availability. Information and systems are available for operation and use to meet the entity’s objectives.
Processing integrity (over the provision of services or the production, manufacturing, or distribution of goods). System processing is complete, valid, accurate, timely, and authorized to meet the entity’s objectives.
Confidentiality. Information designated as confidential is protected to meet the entity’s objectives.
Privacy. Personal information is collected, used, retained, disclosed, and disposed of to meet the entity’s objectives.

SOC 2 FAQs

What is the benefit of hiring a SOC 2 consultant?
A successful SOC 2 consultant understands the client organization’s business context, service commitments, information systems, and risks, and designs a bespoke SOC 2 implementation roadmap that ensures optimum security and successful certification.

SOC 2 certification focuses on managing customer data securely based on Trust Services Criteria namely security, availability, processing integrity, confidentiality, and privacy. It has 290+ requirements called point of focus.

Here’s why you might need one:
- Expertise and Knowledge
  The journey of SOC 2 requires expertise in a range of cyber security domains that cut across technology, human resources, physical, supplier security and governance expertise. With so many domains involved, hiring a SOC 2 consultant can reduce your learning roadmap as an organization.
- Scoping the environment
  Scoping the engagement in terms of systems, locations, functions, service providers and trust criteria is a key aspect of starting the SOC 2 journey. A SOC 2 consultant can bring their expertise to define the scope appropriately.
- Gap Assessment
  A SOC 2 consultant will perform a gap analysis to identify where your current practices fall short of SOC 2 requirements, providing a clear roadmap to compliance. A gap analysis will result in determining the ‘applicable’ and ‘not applicable requirements with suitable justifications.
- Implementation of Policies and Procedures
  A SOC 2 consultant will design, and define all policies and procedures as per applicable controls. For each of the 5 trust criteria, there is a need to define policies and procedures.
- Implementation of Secure Practices
  A SOC 2 consultant will ensure policies turn into actual practices. This is through the handholding of teams in the organization to ensure they indeed follow these practices.
- Implementation of Secure Configurations
  Depending upon your infrastructure (cloud or on-prem or a hybrid of both) the SOC 2 consultant will ensure that all configurations are optimized for security.
- Risk Management Advisory
  A gap assessment will several issues or vulnerabilities, and a SOC 2 consultant will provide specific advice to reduce the risk.
- Third-Party Risk Assessment
  A SOC 2 consultant can evaluate the risks associated with suppliers, and provide actionable insights and recommendations.
- Penetration Testing
  A SOC 2 consultant can perform testing of your Infrastructure and provide recommendations to reduce the risk.
- Training and Awareness
  A SOC 2 consultant will provide training to your staff, ensuring your team understands both the standard and implementation requirements.
- Continuous Monitoring
  After the implementation process is complete, the SOC 2 consultant can assist in managing and monitoring the governance process as well as reporting the degree of effectiveness.
- Managing Certified Public Accountant (CPA) auditors
  Once the organization has prepared and is ready with the Implementation, there are several Q&A sessions between the clients and the CPA auditors. The SOC 2 consultant can make the journey easy by responding to several of these questions on behalf of its clients.
Who needs SOC 2 report?
- SOC 2 compliance is applicable to any service organization, that process or store customer data in their network.
- Examples of these providers include SAAS, PAAS, IAAS services organizations, business process outsourcing, and software service firms.
Who attests or can issue SOC 2 reports?

US-based Certified Public Accountants (CPA)
What is the difference between Type 1 and Type 2 report?
- SOC 2 Type 1 report is issued upon demonstration of 'control design', whereas SOC 2 Type 2 is issued upon a demonstration of control operating effectiveness.
- SOC 2 Type 1 can be achieved in 2-3 months, whereas Type 2 takes 4-6 months. These values are based on a reasonable approach to successful implementation.
What is the difference between a qualified and unqualified report?
- An unqualified report is one in which the auditor has no exceptions or deficiencies to report, thereby indicating that the designed controls are effective.
- A qualified report is one in which the auditor reports one or more exceptions or deficiencies.
What is the benefit of SOC 2 for service organizations who implement them?

SOC 2 is synonymous with security best practices. When an organization implements SOC 2 it has established a governance program that is driven by management participation and sponsorship. Most organizations nominate a CISO or a risk and compliance manager to drive this program.
What is a bridge letter?

Bridge letter is a self-attestation of ‘internal control effectiveness’ by the service organization management representative, for a period not covered in the attestation report.

For instance, if a service organization was attested for Jan to June 2022 and then again, the same period for 2023, the service provider can use the bridge letter for the intervening period, in this case July to Dec 2022.