The 5 Key Trust Principles of SOC 3

Security

Protects systems from unauthorized access, ensuring only approved personnel can access data.

  • AuditVisor’s Role: Our team evaluates your security measures, identifying vulnerabilities and offering solutions to strengthen your defenses against external threats.

Availability

Ensures systems are available as promised, minimizing downtime and ensuring service reliability.

  • AuditVisor’s Role: We assess your system’s availability, ensuring your infrastructure meets the availability commitments made to clients and partners.

Processing Integrity

Verifies that data is processed accurately and reliably, ensuring transactions are free from errors.

  • AuditVisor’s Role: We evaluate your data processing systems, ensuring data is handled with accuracy and integrity.

Confidentiality

Ensures sensitive data is protected from unauthorized access or disclosure.

  • AuditVisor’s Role: We help implement confidentiality controls like encryption, access restrictions, and secure data management to protect confidential information.

Privacy

Ensures the protection of personal data and compliance with privacy laws.

  • AuditVisor’s Role: We help you implement best practices for personal data handling, ensuring your organization complies with global privacy regulations.

The SOC 3 Audit Process

STEP

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Scoping

What happens?
In the scoping phase, we determine the systems and controls that will be evaluated for your SOC 3 audit. This phase helps focus the audit on systems that are most relevant to the trust principles.

How AuditVisor helps:

  • Tailored Scope: AuditVisor works with you to define a scope that aligns with your business needs, ensuring the audit focuses on systems critical to your operations.
  • Focused Expertise: Our team ensures that only the most relevant systems and controls are included, reducing unnecessary complexity while maintaining thoroughness.

Risk Assessment

What happens?
We assess potential risks that could affect the security, availability, confidentiality, or integrity of your systems and data, identifying areas that need the most attention.

How AuditVisor helps:

  • Risk Evaluation: AuditVisor conducts a thorough risk assessment of your systems and data handling processes to identify vulnerabilities.

Mitigation Priorities: We work with you to prioritize and address the highest-risk areas, helping to fortify your systems against potential security threats.

Control Testing

What happens?
During this phase, we test the effectiveness of your internal controls to ensure they align with SOC 3 requirements and provide assurance across the trust principles.

How AuditVisor helps:

  • Comprehensive Testing: We evaluate your security controls, data processing methods, availability measures, and more to ensure compliance with SOC 3 standards.
  • Actionable Feedback: If any issues are identified, AuditVisor provides clear recommendations to improve your controls, ensuring they meet the necessary criteria.
  • Process Optimization: We help automate and streamline your compliance processes, improving efficiency while reducing potential errors.

Report Generation

What happens?
At the conclusion of the audit, we produce a SOC 3 report that highlights your organization’s compliance across the trust principles. This report is meant to be shared publicly with clients and stakeholders.

How AuditVisor helps:

  • Clear, Public-Facing Report: AuditVisor delivers a report that provides a high-level summary of your compliance, without including sensitive details, making it suitable for public distribution.

Client-Friendly Communication: We ensure the report is easy to understand for a broad audience, allowing you to confidently share it with clients and business partners to build trust in your data security practices.

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Benefits of SOC 3 Compliance

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Public Trust

SOC 3 compliance helps build trust with your clients and partners by publicly showcasing your commitment to data security and operational excellence.

  • How AuditVisor helps: We guide you through the SOC 3 process and provide you with a shareable report that highlights your compliance, strengthening your organization’s reputation for security.

Competitive Advantage

Achieving SOC 3 compliance can set you apart from competitors who lack third-party validation of their security practices, giving you an edge in the market.

  • How AuditVisor helps: AuditVisor ensures you complete your SOC 3 audit efficiently and accurately, enabling you to leverage the report in your marketing and client communications.

Increased Client Confidence

SOC 3 certification reassures potential and existing clients that your systems are designed to protect their data, making it easier to secure new business and maintain existing relationships.

  • How AuditVisor helps: We provide ongoing support to ensure your organization remains compliant, helping you maintain the highest standards of security and trustworthiness.

Simplified Compliance Communication

SOC 3 reports are designed for public distribution, making it easier to communicate your compliance efforts without revealing sensitive internal details.

  • How AuditVisor helps: We create a clear, concise report that allows you to share your compliance story with clients, stakeholders, and potential customers without compromising your internal security.

Why Choose AuditVisor?

Licensed CPA Firm

AuditVisor is a licensed CPA firm registered in Florida and Montana, adhering to the highest standards of professionalism and ethics.

Experienced SOC 3 Auditors

Our team has in-depth experience conducting SOC audits for businesses across industries. We bring the expertise needed to guide you through the SOC 3 process seamlessly.

End-to-End Support

From defining the audit scope to delivering the final report, AuditVisor is with you every step of the way, providing expert guidance and hands-on assistance.

Customized Approach

We tailor the audit to your specific needs, ensuring a focused and efficient audit process that meets your business goals.

Long-Term Partnership

Beyond certification, AuditVisor provides ongoing support to help you maintain compliance and stay ahead of evolving standards and regulations.

Frequently Asked Questions on SOC 3 Audits

What is a SOC 3 Audit, and how is it different from SOC 2?

A SOC 3 (System and Organization Controls) Audit is similar to a SOC 2 Audit in that it evaluates a service organization’s controls related to security, availability, processing integrity, confidentiality, and privacy. However, unlike SOC 2, the SOC 3 report is intended for a general audience and can be shared publicly, as it contains no detailed information about the tested controls.

What are the key differences between SOC 2 and SOC 3 reports?

While both SOC 2 and SOC 3 evaluate the same Trust Service Criteria, the primary difference lies in the report content and audience.

  • SOC 2: A detailed report designed for a limited audience, usually customers and partners, providing in-depth information about the controls tested.
  • SOC 3: A summary report meant for a broader audience, offering high-level assurance without specific control details, making it ideal for public sharing.
How much does a SOC 3 Audit cost?

The cost of a SOC 3 Audit is typically aligned with the cost of a SOC 2 Audit, as both evaluate the same control criteria. However, the pricing depends on factors such as the scope of the audit, the complexity of the systems being tested, and whether it’s combined with a SOC 2 Audit. AuditVisor offers a customized pricing structure to ensure the audit meets your needs while staying within budget.

Is a licensed CPA firm required to conduct a SOC 3 Audit?

Yes, SOC 3 Audits must be performed by a licensed CPA firm, such as AuditVisor, which is authorized to issue SOC reports in accordance with AICPA standards. This ensures the credibility and reliability of the report, which can be publicly shared to demonstrate your organization’s commitment to security and trust.

How long does a SOC 2 Audit take to complete?

The duration of a SOC 2 Audit depends on factors such as the type of report (Type I or Type II), the complexity of your controls, and the size of your organization. Type I audits are generally faster and may be completed in a few weeks, while Type II audits require more time as they involve evaluating control effectiveness over a longer period, typically several months.

What is the scoping process for a SOC 3 Audit?

The scoping process for a SOC 3 Audit involves selecting the relevant Trust Service Criteria (e.g., Security, Availability, Confidentiality, etc.) based on your organization’s operations and client requirements. AuditVisor works closely with your team to define the systems and services that will be included in the audit, ensuring that the report provides the appropriate level of assurance.

How long does a SOC 3 Audit take to complete?

The duration of a SOC 3 Audit is typically aligned with a SOC 2 Audit, as it evaluates the same criteria. The timeframe depends on whether you are conducting a Type I (point-in-time assessment) or Type II (ongoing control effectiveness) audit, as well as the complexity of your organization’s controls. Type I reports may take a few weeks, while Type II audits could extend over several months.

Can I combine a SOC 3 Audit with other compliance audits?

Yes, AuditVisor offers integrated audit services, allowing you to combine SOC 3 with other audits such as SOC 1, SOC 2, or ISO 27001. This approach helps streamline the audit process, reducing redundancy and costs while meeting multiple compliance requirements.

Contact us

Ensure your organization is operating with the highest standards of trust and compliance. Contact us today to schedule your SOC 3 audit.