When Should I Renew My SOC 2 Type 2?
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Brittney Casper, our Director of Account Management at Prescient Security, sheds light on one of the most common questions she encounters: "When should I renew my SOC 2 Type 2?" In this blog post, Brittney shares her expertise and insights to help you navigate the renewal process effectively. Let's dive in and find out the answer to this crucial question!
Here’s the scoop: A SOC 2 Type 2 report remains valid for one year from its issue date. It only covers the period of the audit window, and you can only use the logo for a period of 1 year after your report date. Most of your customers will expect your SOC 2 Type 2 reports to be consecutive with no gap between reports. Any gaps can lead to questions about your control environment and if the controls were operational.
A SOC 2 Type 2 report only covers the period identified in the report, e.g. the observation window. To give your customer’s assurance that you take security seriously, renewing your SOC 2 Type 2 promptly after the current audit closes is a wise move. This ensures we have the resources allocated for your audit to provide a smooth audit process. It also provides assurance to your customers that you have an auditor engaged throughout the period.
Many clients opt for a 3-month audit window for their first report year as a launching point into SOC compliance to receive a completed audit and report. Any gaps identified in the audit period can lead to questions and increased scrutiny from your clients. It’s therefore recommended that your observation window be 12 months on all future reports to follow industry best practices. This means, starting the day after your last period ended. The longer period offers a more thorough view of your security controls’ effectiveness over an extended period, providing your clients with a holistic assessment of your organization’s security posture.
To ensure a smooth renewal process, consider this short readiness task list:
- Review prior year’s audit findings
- Update policies and procedures
- Conduct an internal assessment
- Prepare documentation and evidence
- Conduct employee training
- Implement technical controls
- Perform a risk assessment
By staying on top of these tasks, you’ll be better positioned to navigate the renewal process and let your customers know they can trust doing business with you!
Dive deeper into SOC 2 Type 2 renewal with our comprehensive fact sheet! Check out our fact sheet now and ensure a smooth SOC 2 renewal journey: https://hubs.ly/Q02lKkHN0
