SOC Audit and Report The cost for a typical SOC Type 1 starts at $20,000, and SOC Type 2 starts at $30,000. Managing the cost of a SOC Report is of course very important – and a sound approach, with experienced assessors will provide long-term value to the organization.
The SOC 2 reporting process can take anywhere from 4 weeks – 18 months on the extreme ends of the spectrum (6 weeks – 3 months on average).
Here are six steps you can take to prepare.
Define the operating goals of your audit. ... Define the scope of your SOC 2 audits. ... Address regulatory and compliance requirements. ... Review and write security procedures. ... Perform a readiness assessment. ... Evaluate and hire a certified auditor.
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