SOC 2 (Service Organization Control 2) is a type of certification that assesses the security, availability, processing integrity, confidentiality, and privacy of a service organization's systems and data. SOC 2 Certification in Srilanka is designed to provide assurance to customers and other interested parties that the service organization has appropriate controls in place to protect sensitive data and maintain the confidentiality and privacy of that data.
The SOC 2 Audit Process requires an independent third-party assessment of the organization's controls, policies, and procedures. This assessment is done following the AICPA's (American Institute of Certified Public Accountants) Trust Services Criteria (TSC) which consists of five categories: Security, Availability, Processing Integrity, Confidentiality and Privacy.
The assessment includes a review of the service organization's controls, a testing of those controls, and a report on the results of the assessment. If the service organization's controls are found to be in compliance with the TSC, the service organization will be issued a SOC 2 report, which can be shared with its customers and other interested parties to provide assurance about the service organization's controls.
Being SOC 2 compliant in Srilanka can be a decisive factor when you are pitching for high-value projects in previously untapped markets. Not only does it demonstrate your commitment to data protection standards, but it also boosts customer trust in your brand. With this assurance, prospects can feel more secure when engaging in contracts with you, confident in the knowledge that their data is secure. Ultimately, this compliance is an effective way to close more deals and increase revenue.