SOC for Cybersecurity

Primary Contact: Eric M. Wright CPA, CITP

A SOC for Cybersecurity Report is an examination that provides stakeholders with information regarding an organization’s cybersecurity risk management program.

The AICPA has developed a reporting framework to assist organizations in communicating relevant and useful information about the effectiveness of their cybersecurity risk management programs. The report provides a means for organizations to demonstrate that they are effectively managing cybersecurity threats, and that they have effective processes and controls in place to detect, respond to, mitigate and recover from organization breaches and other security events.

Benefits of a SOC for Cybersecurity Report

Organizations that undergo a SOC for Cybersecurity examination will obtain a report on the effectiveness of their cybersecurity risk management program from an independent CPA firm. The report can be presented to the organization’s board of directors, analysts and investors, business partners, industry regulators and customers and will demonstrate that the organization has effective cybersecurity controls in place to achieve the organization’s cybersecurity objectives.

Potential users of a SOC for Cybersecurity report and benefits include:

  • Members of the board of directors may require information about the cybersecurity risks an organization faces and the cybersecurity risk management program that management implements to help them fulfill their oversight responsibilities. They may also want information from independent third-party assessors that will help them evaluate management’s effectiveness in managing cybersecurity risks.
  • A SOC for Cybersecurity report is intended to help analysts and investors understand the cybersecurity risks that could threaten the achievement of an organization’s operational, reporting, and compliance (legal and regulatory) objectives and, consequently, have an adverse impact on an organization’s value and stock price.
  • Business partners may require information about an organization’s cybersecurity risk management program as part of their overall risk assessment. This information is intended to help business partners determine matters such as whether there is a need for multiple suppliers for a good or service and the extent to which they choose to extend credit to an organization.
  • Customers and industry regulators may benefit from information about an organization’s cybersecurity risk management program to support their monitoring and oversight role.

Additional SOC Services

SOC Resources

About Schneider Downs SOC Services

Schneider Downs employs a unique approach to SOC reports, integrating the expertise of information technology, internal audit and external audit professionals. By combining cross-disciplinary knowledge and project management expertise, we are able to effectively deliver on our clients' expectations. If you are interested in learning how we can assist your organization, please contact us to get started or learn more about our practice at erp.dcemu.net/soc.

Does your organization need a system and organization controls (SOC) report?

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