Today's global organizations are turning with greater frequency to third parties for assistance with important technology, business processes, and more. But increased reliance on outsource service providers (OSPs) has the potential to expose organizations to risks that are difficult to identify, manage, and monitor. This has led to a large uptick in demand for Service Organization Control (SOC) reports, particularly SOC 2 reports.
SOC 2 reports focus on providing assurance with respect to the American Institute of Certified Public Accountants’ (AICPA) Trust Service Principles and Criteria: security, availability, confidentiality, processing integrity, and privacy. But increasingly, OSPs are seizing the opportunity to capture major reporting efficiencies by creating enhanced SOC 2+ reports that demonstrate compliance with a wide range of regulatory and industry frameworks. With SOC 2+ reports, organizations can spend less time and fewer resources conducting performance reviews at their OSPs. Both OSPs and customers are also less likely to be exposed to compliance violations that can result in various forms of liability, including fines.
This report discusses the versatile SOC 2+ that OSPs are using to integrate their controls and become more proficient at third-party reporting. It also discusses:
Beginning the journey from SOC 2 to SOC 2+
Understanding customer requirements
Mapping controls to multiple frameworks
Download this report now to learn how to streamline your third-party reporting processes and better manage risks outside your organization.
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