What should be the SOC 2 Audit Frequency for your Company?

Updated: Aug 16

Vector Representation of SOC 2 Audit Frequency
SOC 2 Audit Frequency

The SOC 2 report has been designed by the American Institute of Certified Public Accountants (AICPA). It evaluates and lists the internal controls, policies, and procedures related to the security of a system at a service organization.

Quick Recap Of SOC 2 Report

SOC 2 reports differ from other information security standards and frameworks. The AICPA has developed 5 Trust Service Criteria: security, availability, processing integrity, confidentiality, and privacy. A service organization can pick their chosen TSCs to demonstrate they have controls to mitigate risks. Of the 5 Trust Service Criteria, all the SOC 2 reports must include the security trust service criterion. At the same time, the other four are optional and can be incorporated into the report at the organization's discretion.

SOC 2 has two report types: SOC 2 Type 1 and SOC 2 Type 2

A SOC 1 Type 1 report typically says if the system controls are correctly designed, whereas a SOC 2 Type 2 report says if those controls function as intended over a period of time.

SOC 2 Audit Frequency

Now that we have had a quick recap of what a SOC 2 report looks like, let's figure out the frequency with which organizations need to perform a SOC 2 audit.

Depending on the audit period, a SOC 2 report is valid for 6-12 months from its issued date.

For instance:

  1. If the audit period is 1 Jan 2022 - 30 June 2022, the organization must prepare to renew it after these 6 months.

  2. If the audit period is 1 July 2021 - 30 June 2022, the organization must prepare to renew it after these 12 months.

That is because any SOC 2 report older than 6-12 months becomes less valuable to potential prospects and customers. The purpose of the report is to act as evidence for customers who want to know how your organization’s security controls are performing right now, not a year or two ago.

Choosing to conduct a SOC 2 audit every 6 months allows your organization;

  • To have annual controls operational

  • To finish employee performance

  • To increase customer’s trust and boost sales

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