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2024 Key SOC Considerations

Read the third installment in our three-part series focusing on this year’s key SOC considerations.
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As you navigate the intricate compliance landscape for SOC reporting, staying attuned to pivot areas that demand attention is imperative. Based on feedback received from assurance teams, developments in guidance, and discussions with users of SOC reports, we have put together a list of several key fronts to focus on in 2024, each critical in shaping the narrative of security, integrity, and compliance within an organization:

  1. Re-evaluate the principal service commitments and system requirements presented within Section III.
    • Are the correct service commitments being identified?
    • Are all principal service requirements included?
  2. Focus on third-party risk management and monitoring of processes outsourced to third parties.
    • Consider periodic monitoring of subservice organizations such as monthly meetings or monthly reviews of report metrics in addition to the annual review of SOC reports, security assessments, and/or security certifications.
    • Consider how you actively monitor compliance against agreed-upon service-level agreements.
  3. Consider incorporating multiple frameworks into your existing SOC 2 control environment.

By addressing the multi-faceted dimensions of SOC reporting, you can reinforce the resilience of your system, fortify trust with business partners and clients, and navigate the ever-evolving landscape of information security. Chart a course with Forvis Mazars to help your existing SOC endeavors remain not just compliant, but transformative. If you have questions or need assistance, reach out to a professional at Forvis Mazars.

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