How to Prepare for Your SOC 2 Readiness Assessment

Opting for a readiness assessment ahead of your SOC 2 examination is—while optional—a beneficial extra step when seeking compliance. Do you remember taking a practice test while preparing for an exam in school? It allows you to understand your weaknesses before undergoing the actual test. That being said, there are some things you should understand ahead of your readiness assessment that can help enhance your experience.  

As a long-time, leading provider of SOC reports, Schellman has supported many organizations through readiness assessments to prepare for an upcoming SOC 2 examination, so we understand that for those new to this compliance framework, there may be some misconceptions.   

In this article, we’ll articulate three of the most common misconceptions organizations assume about their upcoming SOC 2 readiness assessment so that you can set proper expectations as you move forward.  

3 Common Misconceptions Regarding Your SOC 2 Readiness Assessment   

We know better than most about an organization’s level of effort that goes into designing a suitable control environment that meets SOC 2 criteria, which is why we always recommend readiness assessments prior to audit kickoff.   

But when talking through this process with our clients, here are three things we’ve noticed organizations often misconstrue.

1. “These results can negatively impact our overall audit opinion.”  

Many organizations turn to SOC 2 due to external demand—your customers want assurances, in the form of a SOC 2 examination, that their information is safe with you.   

If you opt for a readiness assessment—while it is the first step that leads naturally into a formal Type 1 or Type 2 SOC 2 examination that’ll provide your customers with the assurance they need—the results of this assessment are designed for internal use only.   

What does that mean, you might wonder? That actually leads us to our next misconception.  

2. “Everything needs to be perfect.”  

See, with such high stakes placed on your organization to deliver, some assume that there is little to no margin for error when you kick things off for your readiness assessment.  

In actuality, when you take advantage of this optional step, you get the unique opportunity to work alongside an external assessor to obtain a comprehensive analysis of your control environment as-is and, together, identify any gaps in your control designs relative to your in-scope trust services criteria.    

You should expect that some gaps will be identified. Most readiness assessments uncover areas for improvement, and that’s exactly the point. A readiness assessment is designed to highlight where you currently stand and where to focus your efforts moving forward. Going back to the practice test analogy, this is the real value of a readiness assessment: a lower-stakes way to understand your level of preparedness before the formal evaluation. 

So, don’t “worry” necessarily about the outcome of your readiness assessment. Of course, you should take the steps to bring your control designs up to standard, but expectations of perfection at this point are unreasonable. When executed correctly, you should come out of your readiness assessment with focus areas for improvement that point you in the direction of the necessary adjustments you’ll need to make to receive a desirable opinion during your SOC 2 examination.  

3. “We’re on our own for this.”  

In fact, you’re not on your own, and such a belief completely contradicts the use case of a readiness assessment. Because while one part of its value is that it’s a practice run ahead of the ultimate test that is your SOC 2 examination, another value-add of a readiness assessment is that it allows you to gain unbiased insight from an experienced external auditor.  

Embracing the involvement of your assessor at this stage can provide meaningful interaction and discourse with all stakeholders within your organization. The external auditor is there to evaluate your current controls and provide observations based on their expertise in SOC 2 criteria. You’ll want to take advantage by asking any questions to clarify how your existing controls align with SOC 2 criteria and to better understand the evaluation process.  

Because a readiness assessment is strictly an evaluation, Schellman or any other assessor does not provide advisory, remediation, or implementation services. That said, a readiness assessment does facilitate productive dialogue with your chosen service auditor, giving your team insight into what is already satisfactory and what still needs attention, which ultimately helps you prepare for the formal audit while keeping responsibility for addressing gaps firmly in your hands. 

Going into Your SOC 2 Readiness Assessment  

Though not every organization opts to add on a readiness assessment ahead of a SOC 2 examination, these evaluations do provide value in that they give you the opportunity to:  

• Set your milestones   
• Close your design gaps 
• Enter your Type 1 or Type 2 SOC 2 examination with confidence    

Not only that, but a readiness assessment also helps your assessor to better position themselves for your formal audit, as they’ll gain familiarity with your processes, meet your control owners, and get an advanced look at the types of evidence you’ll have prepared to satisfy audit requirements.  

But it’s important to go into this readiness assessment step with the right idea of what you’re getting into and what you should get out of it, and hopefully, now you feel more empowered to succeed in your upcoming audit.   

To learn more about SOC 2, access our comprehensive guide to shaping your examination or contact us today. In the meantime, check out our other content detailing the different aspects of this very popular compliance initiative:  

• 5 Steps to Prepare for SOC 2 Examination Success 
• How to Perform a SOC 2 Risk Assessment  
• 4 Common SOC 2 Challenges Organizations Face 
• How to Read Your SOC Report