SOC 2 Readiness Checklist

Comprehensive SOC 2 readiness checklist and cost planning

SOC 2 Readiness Checklist

1. Scope Definition

   • Define audit scope (which systems/services)
   • Select Trust Service Criteria (Security + which optional?)
   • Identify service commitments and system requirements
   • Document system boundaries
2. Control Implementation

   • Implement Common Criteria (CC1-CC9) controls
   • Implement selected additional criteria (A, PI, C, P)
   • Document control procedures
   • Assign control owners
   • Establish control monitoring
3. Policies and Procedures

   • Information Security Policy
   • Access Control Policy
   • Change Management Policy
   • Incident Response Plan
   • Backup and Recovery Procedures
   • Vendor Management Policy
   • Risk Management Framework
4. Evidence Collection System

   • Set up automated evidence collection
   • Create evidence repository structure
   • Implement audit logging
   • Configure monitoring and alerting
   • Document evidence retention policy
5. Personnel Requirements

   • Background checks for employees with access to customer data
   • Security awareness training (all employees)
   • Specialized training for privileged users
   • Contractor/vendor NDAs and security requirements
   • Role-based access assignments
6. Vendor Management

   • Vendor risk assessments
   • SOC 2 reports from critical vendors
   • Data Processing Agreements (DPAs)
   • Vendor monitoring and review process
7. Testing and Validation

   • Internal control testing
   • Penetration testing (annual minimum)
   • Vulnerability scanning (quarterly)
   • DR testing (annual minimum)
   • Access review (quarterly)
8. Continuous Monitoring

   • Begin 3-12 month observation period
   • Weekly evidence collection
   • Monthly control effectiveness review
   • Quarterly access reviews
   • Incident response testing
9. Auditor Engagement

   • Select SOC 2 auditor (CPA firm)
   • Readiness assessment
   • Kick-off meeting
   • Evidence submission
   • Auditor testing and fieldwork
   • Draft report review
   • Final SOC 2 report issuance

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Cost of SOC 2 Compliance

Estimated Costs

Cost Category	Estimate	Notes
Auditor Fees	$15,000 -$50,000	Depends on scope, company size
Preparation/Consulting	$10,000 -$40,000	Gap assessment, readiness (optional)
Tools and Software	$5,000 -$20,000/year	Compliance automation, monitoring
Personnel Time	$30,000 -$100,000	Internal staff hours (est. 500-1500 hours)
Penetration Testing	$10,000 -$30,000	Annual requirement
Remediation	Variable	Depends on gaps identified
Ongoing Compliance	$20,000 -$60,000/year	Monitoring, evidence collection, annual audit

Total First-Year Cost: $90,000 -$300,000 Subsequent Years: $40,000 -$120,000 (annual audit + maintenance)

ROI Justification: SOC 2 compliance often:

• Unlocks enterprise sales opportunities
• Increases customer trust and retention
• Reduces security incidents (cost avoidance)
• Provides insurance premium discounts
• Meets RFP requirements for large deals

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Next Steps

Evidence Collection

Begin evidence gathering

Trust Service Criteria

Review control requirements

Back to Overview

Return to SOC 2 overview

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SOC 2 Compliance: Complete guide for Type I and Type II audit readiness!