The SSAE 18 audit standard is a framework for reporting on an examination of controls at a service organization relevant to user entities’ internal control over financial reporting.
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
The Service and Organization Controls 2 Report, formally known as a Service Organization Controls Report as of the most recent update to the SSAE 18 audit standard. A SOC 2 report
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
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.
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.)
At a high-level, SOC1 is about financial controls, while SOC2 focuses on information security controls. They serve different end-user customers and stakeholders.
SOC Reporting Guide