At Oppos cybersecurity experts in Canada, we take a risk-based approach to testing, ensuring that each control is implemented to the level necessary to meet the requirements of the SOC standard. We will collaborate with you to produce a comprehensive suite of evidence which attests to the effectiveness of your controls. Once we are satisfied with the qualiy of the evidence we will work with the SOC auditor on your behalf to deliver evidence and respond to any technical or other questions related to the audit.
Our SOC compliance services are designed to help you achieve overall compliance with the SOC standards, and we are dedicated to helping you get and maintain certification Each business has its own unique needs. Thus, we provide customized solutions that meet your specific requirements.
At Oppos, we believe that obtaining SOC attestation should not be a burden on your business. That’s why we work with you every step of the way, offering guidance and support to ensure a smooth and stress-free process.
What is SOC?
The System and Organization Controls (SOC), created by the American Institute of Certified Public Accountants (AICPA) is comprised of 3 different standards – SOC 1, SOC 2, SOC 3 – and each has specific requirements meant to showcase your organization’s ability to effectively deliver services.
Additionally, each standard can be audited at a certain point in time – this is known as a Type 1 report – or over a period of not less than 6 months – this is known as a Type 2 report. The table below illustrates the various SOC standards and types of reports.
| Standard | Type | Reporting Period | Description | Typical Customer |
|---|---|---|---|---|
| SOC 1 | 1 | Point-in-Time | A report on your company’s implementation and operational effectiveness of certain controls as of a specific date. The audit report provides a description of the service organization’s system and control objectives, but does not provide assurance on the operating effectiveness of the controls. | Processors of Payroll or Medical Claims, Loan Servicing, Datacentres, SaaS |
| SOC 1 | 2 | 6 mos – 12 mos | Same as Type 1 but covering a specific period usually between 6 and 12 months Includes a more in-depth evaluation of the control activities, including testing and monitoring, to ensure they are operating as intended. Report provides a description of the service organization’s system and control objectives, as well as the results of testing and monitoring to provide assurance on the operating effectiveness of the controls. | Processors of Payroll or Medical Claims, Loan Servicing, Datacentres, SaaS |
| SOC 2 | 1 | Point-in-Tme | Assessment of the design of a service organization’s controls at a specific point in time. It focuses on the control objectives and control activities in place to meet the Trust Services Criteria. |
Cloud service providers, Data centers, Managed service providers, Software vendors, Payment processors, Healthcare technology providers, Financial services providers, Government agencies |
| SOC 2 | 2 | 6 mos – 12 mos | Assessment of the design and operating effectiveness of a service organization’s controls. Includes a more in-depth evaluation of the control activities, including testing and monitoring, to ensure they are operating as intended. |
Cloud service providers, Data centers, Managed service providers, Software vendors, Payment processors, Healthcare technology providers, Financial services providers, Government agencies |
| SOC 3 | 2 | 6 mos – 12 mos | Provide a general-use report that summarizes the results of a SOC 3 audit. Intended for anyone who wants to understand the service organization’s controls related to security, availability, processing integrity, confidentiality, and privacy of customer data. | Prospective customers of a service organization, Investors, Regulators, Business partners |
Obtaining an independent examination of your SOC 1, SOC 2, or SOC 3 controls will foster trust and confidence with your customers and their auditors.
Why is SOC Compliance Important?
The System and Organization Controls framework is designed to evaluate service providers that handle sensitive information, including data collection, processing, transmission, and storage. Service providers play a vital role in the success of any business. Outsourcing enables businesses to focus on their core competencies, resulting in increased efficiency and growth. However, a security breach at a third-party service provider could significantly affect an organization.
Organizations that contract with TSPs are responsible for the security and privacy of sensitive information. Moreso if the data management is delegated to the TSP. This is where SOC compliance becomes essential.
SOC assessments provide organizations with the assurance they need to monitor the cybersecurity controls of their service providers, helping to reduce the risk of a security breach and protecting sensitive information.
In short, SOC compliance ensures that organizations can maintain control and accountability over the security of their data, even when third-party providers handle it.
Oppos: Your SOC Compliance Partner
Oppos Inc is a leading Canadian-based SOC compliance service that helps businesses achieve and maintain regulatory compliance. With over decades of experience in the cybersecurity industry, Oppos’ experts have the skills and knowledge needed to help organizations navigate the complex and ever-changing landscape of SOC compliance.
Oppos’ approach to SOC compliance is hands-on, relationship-driven, and focused. We will work with you closely to understand your organization’s unique priorities, environment, and requirements. We get the job done.
We are committed to helping our clients achieve their compliance goals on time and within budget. Our goal is to help businesses fulfill every requirement and maintain a strong foundation, so organizations can focus on what they do best – growing.
Our SOC Compliance Services
At Oppos, we take the stress out of SOC compliance by providing a comprehensive range of services to help you meet all SOC requirements.
Gap Assessments
If your organization is starting its SOC journey, we’ll help you with the first step after you’ve made the decision to become compliant. We’ll conduct an assessment of your present state against the SOC Trust Services Criteria which apply to your organization. The assessment will determine your readiness for a SOC audit, identify gaps, and provide recommendations on what you need to do close the gaps.
Customized Policies & Procedures
Once the gap assessment is complete, our cybersecurity experts will work closely with you to identify any necessary additions or modifications to your controls and produce corresponding policiesand procedures. We’ll be by your side every step of the way as you implement these changes.
Technical Guidance
We understand that technology can play a crucial role in SOC compliance. For many smaller organizations with limited technical resources this can present a major obstacle. That’s why we offer support in selecting and implementing the right technical solutions and tools to bring your organization up to SOC standards.
Audit Preparation
Finally, after the gaps have been closed, our team will re-assess your environment considering the recently implemented changes and determine your readiness for an audit by an AICPA- approved auditor. Once an auditor is engaged, we’ll act as intermediary to produce evidence and answer technical questions on your behalf until the auditor delivers its final With Oppos, you can have peace of mind knowing that your SOC compliance is in good hands.o
Does My Organization Need a SOC?
SOC attestations have become an essential aspect of ensuring the trust of clients in third-party service providers (TSPs). By demonstrating compliance with regulations and assurance in the products and services offered, a clean SOC opinion can boost confidence in your organization among existing customers and in the marketplace.
Today, many organizations and government entities require their service providers to have a clean SOC report. At Oppos, we help you navigate the SOC attestation process and achieve a report that demonstrates your commitment to security and trust. Let us help you boost confidence in your organization and meet the increasing demand for SOC compliance.
Don't leave your business at risk! Ensure your security with SOC compliance.
SOC COMPLIANCE FAQS
The SOC process includes planning, control testing, and reporting. The examination process is performed by a qualified independent auditor and includes an assessment of the TSP’s control system and practices.
The length of time it takes to achieve SOC certification can vary depending on the size and complexity of the organization, but typically takes 3 – 9 months depending on an organization’s initial readiness, the time to remediate gaps, and which level – Type 1 or Type 2- of SOC the organization is trying to achieve.
The requirements for SOC certification vary depending on the type of SOC report being sought, but generally include documented policies and procedures, effective control systems, and regular monitoring and testing of controls.
The costs associated with SOC certification include fees for the SOC assessment , preparation , and the audit.
Yes, SOC certification can be maintained over time by implementing effective controls and regularly monitoring and testing the controls to ensure they remain effective. Ongoing SOC certification requires ongoing effort and commitment from the organization.
