SOC 2 Academy: Who Should Make Updates To Your Risk Assessment?

by Joseph Kirkpatrick / December 16, 2022

The Importance of Teamwork During a Risk Assessment During a SOC 2 audit, an auditor will assess an organization’s risk assessment processes. This includes not only assessing how the organization assesses risk, but the people involved in the risk assessment process as well. Auditors will want to see that the organization has a process in place regarding who should make updates to the risk assessment. Why is that? One of…

SOC 2 Academy: Assessing Changes Within Your Organization

by Joseph Kirkpatrick / December 16, 2022

Common Criteria 3.4 When a service organization undergoes a SOC 2 audit, auditors will look to validate that they comply with the common criteria listed in the 2017 SOC 2 Trust Services Criteria. Common criteria 3.4 (CC3.4) states, “The entity identifies and assesses changes that could significantly impact the system of internal control.” Let’s take a look at what organizations need to do during their SOC 2 audit to demonstrate…

SOC 2 Academy: How Fraud Can Impact Risk

by Joseph Kirkpatrick / December 16, 2022

Common Criteria 3.3 When a service organization undergoes a SOC 2 audit, auditors will be looking to validate that they comply with the common criteria listed in the 2017 SOC 2 Trust Services Criteria. Common criteria 3.3 (CC3.3) states, “The entity considers the potential for fraud in assessing risks to the achievement of objectives.” This means that organizations must consider how fraud can impact risk. What does an organization need…

SOC 2 Academy: Risks from Business Partners

by Joseph Kirkpatrick / December 16, 2022

Common Criteria 3.2 While organizations must consider the risks to their operations, finances, and reputation caused by threats inside their organization, they must also consider outside risks from business partners and third-party vendors. During a SOC 2 audit, organizations will have to demonstrate that they consider the risks from business partners and third-party vendors in order to comply with the SOC 2 common criteria 3.2, which states, “The entity identifies…

SOC 2 Academy: Assessing the Significance of Risks

by Joseph Kirkpatrick / December 16, 2022

Common Criteria 3.2 During a SOC 2 audit, auditors will validate that organizations comply with the common criteria listed in the 2017 SOC 2 Trust Services Criteria. Common criteria 3.2 states, “The entity identifies risks to the achievement of its objectives across the entity and analyzes risks as a basis for determining how the risks should be managed." When an auditor is assessing an organization’s compliance with this, they will observe…