FAQ: How long does a SOC 1 take to complete?

FAQ: How long does a SOC 1 take to complete?

This depends on how prepared and how many resources an Organization has to dedicate to the project. The first time through, usually a readiness assessment would be performed, and then a SOC 1 Type 1, and take anywhere from 2 to 3 months. However, there are situations where it may take 6 to 12 months should an Organization not have the resources or sufficient priority assigned.

A Type 2 report takes about 2 months to complete, but, it may take a little longer during the first audit and become more efficient every year thereafter.

Additional FAQs

How often is a SOC 2 audit required?

SOC 2 Type II audits should be performed annually, however, there are times you may choose to perform them twice a year. Additionally, if recently completing a SOC 2 Type

SOC 1 or HITRUST?

The SOC 1 has a completely different purpose than HITRUST. Typically a company would perform both if they are a TPA processing medical claims and other claims, where, there is

Can I fail a SOC 2 audit?

Yes, failure to meet the relevant Trust Service Criteria may result in a failed SOC 2 audit, requiring remediation. This is known as a Qualified Opinion when this happens.

Are Third Party Vendor reviews required for SOC 1 and SOC 2?

As of the latest SSAE 18 and SOC 2 updates, vendor management and review of any relevant compliance / audit reports (SOC 1, SOC 2, HITRUST, ISO 27001/2, PCI, etc.)

What are the SOC 2 criteria?

The five SOC 2 criteria are Security, Availability, Processing Integrity, Confidentiality, and Privacy.

What are the costs of SOC 2?

There are a lot of factors that go into responding to this question. There are audit, consulting, software, internal resources, and other factors to consider which can easily grow from

Get Our Emails

SOC Reporting Guide