Key considerations for service organizations when purchasing SOC 2 tools

Key takeaways

• Evaluating SOC 2 tools. New SOC 2 audit tools offer potential efficiency gains but vary widely in functionality--we break down the benefits to look for and what to consider as part of your tool selection.
• Auditor considerations. SOC 2 tools don't reduce the responsibilities of service auditors. Learn what auditors are responsible for in relation to a SOC 2 tool.

Several new system and organization controls (SOC) 2 tools on the market are designed to help improve the SOC 2 examination experience for service organizations. These platforms offer a new breadth of functionality and scope. According to the Association of International Certified Professional Accountants (the Association), use of this type of SOC 2 tool might affect how the service auditor meets relevant requirements of the attestation standards.

Provider offerings can vary greatly, so if you’re considering adopting a compliance software program to assist in compliance efforts, it’s critical to thoroughly evaluate potential vendors as well as their capabilities and limitations.

While some compliance programs can increase efficiency and organization, others could add complexities and examination responsibilities for the service organization and the auditor.

Here, we discuss key considerations — including software benefits, limitations, selection criteria, and associated responsibilities — to keep in mind when evaluating compliance software options. To learn more about SOC examinations, see our SOC report guide.

Benefits to look for in SOC 2 tools

The right SOC 2 tool could help your service organization streamline its preparation for its first SOC 2 audit or execution of annual subsequent SOC 2 audits, which could result in time and cost savings.