How Much it cost to attest SOC2?

Cost of SOC2 attestation from AICPA

The cost of obtaining SOC 2 (Service Organization Control 2) compliance can vary widely depending on several factors, such as the size of the organization, the complexity of its systems, the scope of the audit, the level of existing security measures, and the choice of the auditing firm. Here are some key factors that can influence the overall cost:

1. Organization Size and Complexity:

• Larger organizations or those with complex IT environments may incur higher costs due to the increased effort required to assess and document controls.

1. Scope of Audit:

• The scope of the SOC 2 audit, including the number of systems and services included, influences the cost. A broader scope typically requires more resources and time.

1. Preparedness and Existing Controls:

• Organizations with robust existing security controls and well-documented policies may have a lower cost compared to those starting from scratch.

1. Internal Resources:

• The amount of internal resources dedicated to preparing for the audit can impact costs. If an organization requires additional support or consulting services, this may contribute to the overall cost.

1. Level of Compliance:

• Achieving a SOC 2 Type II certification generally involves more effort than a Type I certification. Type II involves an assessment of controls over a specified period, often requiring a longer and more comprehensive audit.

1. Auditor Selection:

• The choice of the auditing firm can affect costs. Different audit firms may have varying fee structures. It’s important to select an experienced and accredited auditor.

1. Pre-Assessment Costs:

• Some organizations opt for a pre-assessment before the formal audit to identify and address issues in advance. While this can add an upfront cost, it may lead to more efficient audits and potentially reduce overall expenses.

1. Remediation Costs:

• If deficiencies or non-compliance issues are identified during the audit or pre-assessment, there will be costs associated with remediation and implementing corrective actions.

1. Ongoing Maintenance Costs:

• Maintaining SOC 2 compliance is an ongoing process. There are ongoing costs related to monitoring, internal audits, and continuous improvement efforts to sustain compliance.

 

It’s important for organizations to conduct a thorough assessment of their specific situation and requirements when estimating the cost of obtaining SOC 2 compliance. Engaging with experienced professionals, such as certified public accountants (CPAs) or consultants specializing in information security, can provide valuable insights and assistance throughout the process.

Keep in mind that costs can vary, and it’s advisable to obtain quotes and proposals from accredited auditing firms to get a more accurate estimate tailored to your organization’s needs.

Contact us at info@soc2-aicpa.com for more information.