Achieving SOC 2 and ISO 27001 Simultaneously: Maximizing Efficiency and Minimizing Costs

More and more customers are demanding SOC 2 examination and ISO 27001 certification services, and sometimes the same organization needs both third-party assurances to stay competitive in the market. Whatever the size and reach of your organization, achieving not just one but both of these assurance programs offers a competitive advantage. Pursuing SOC 2 and ISO 27001 simultaneously is a key way to streamline your compliance efforts, reduce costs, and bolster your security infrastructure.

This article will outline why you should opt for dual compliance, the strategic advantages it provides, and how to manage the process of achieving compliance efficiently, thus ensuring optimal results – similarly, we peer-reviewed this article with our connections at Mastermind, one of the few certification bodies for ISO 27001 with its operations exclusively rooted in the United States.

Why Pursue SOC 2 and ISO 27001 Together?

Save on Costs: 

It’s no secret that achieving compliance can be expensive, especially when it comes to engaging expert consultants to guide you through the process. Embarking on the SOC 2 and ISO 27001 compliance process at the same time can allow your organization to leverage the consultants’ expertise for both standards at once, which will slash the cost of paying consultants for the two processes individually. This approach means that you don’t have to pay separate consultants to do much of the same work, as SOC 2 and ISO 27001 include similar requirements and objectives, resulting in substantial cost savings.

Internal staff at your organization will need to be involved in achieving compliance, which can be time-consuming and can divert them from their primary responsibilities and slow your ordinary business functions. If you manage both assurance programs concurrently, you will minimize the time that staff spend on compliance activities, which allows them to focus on essential business tasks. A combined approach to compliance will reduce redundancy and, therefore, save you time and money. 

Save on Time:

Achieving SOC 2 and/or ISO 27001 compliance requires a large time commitment, as your organization must furnish extensive documentation and undergo thorough second-party assessments and third-party audits. When you pursue SOC 2 and ISO 27001 compliance concurrently, you streamline the process instead of preparing separate documentation and undergoing multiple audits.

David Forman, CEO and founder of Mastermind, states, “Most organizations experience up to 85% overlap between the Annex A controls in the 2022 revision of ISO 27001 and the SOC 2 criteria for Security, Availability, and Confidentiality when implemented across similar scopes.” Additionally, when conducting a leveraged audit to re-use evidence items collected for the initial SOC 2 examination, Forman explains that Mastermind can consolidate additional follow-up requests, reducing the total number of new requests from the auditor to fewer than 20 additional items.

Approaching SOC 2 and ISO 27001 with a coordinated timeline means that your team won’t be continuously engaged in compliance tasks, one after the other, which could disrupt project flows and business operations. By synchronizing the process, you can efficiently allocate time, effort and resources, and achieve compliance more quickly and with less disruption to your business’s  day-to-day activities.

Reduction of Redundancies:

Both ISO 27001 and SOC 2 provide organizations with baseline criteria and frameworks that they can use to measure their security controls and systems against. ISO 27001 centers on developing and maintaining an information security management system (ISMS), while SOC 2 focuses more narrowly on benchmarking an organization’s implementation of essential data security controls per a common criteria. Though they differ in overall scope and flexibility, many requirements between the two framework schemes overlap.

For example, both schemes require robust access control mechanisms, incident response plans, and continuous monitoring. By implementing controls that satisfy the higher threshold of each standard, your organization can achieve compliance with both, eliminating the need to rework processes and policies. Unifying your approach to compliance will ultimately reduce repetition and greatly simplify the process. 

A Unified Approach to Control Areas:

Implementing a combined strategy for tackling SOC 2 and ISO 27001 compliance requirements  involves looking at the control areas or themes of each framework and deciding how best to address them together. Here are key areas where this approach can be particularly effective:

1. Information Security Policies:

Develop comprehensive policies that meet the requirements of both SOC 2 and ISO 27001. These topic-specific policies should cover access rights, information access restrictions, secure authentication, data masking, information backup, as well as information security awareness, education, and training. Ensuring that policies are aligned with both standards allows your organization to create a cohesive and effective security framework.

As business operations and regulations evolve over time, it is essential to regularly review and update policies to remain compliant. This proactive approach ensures that your organization fulfills both SOC 2 and ISO 27001 criteria and requirements over time.

2. Risk Management:

Conducting a single, thorough information security risk assessment that identifies risks relevant to both ISO 27001 and SOC 2 allows your organization to address potential threats in a holistic manner. This unified risk assessment can then inform a risk treatment plan that addresses identified risks with controls that meet the more stringent requirements of either framework.

Implementing a unified risk treatment plan will streamline achieving compliance for both standards and also enhance your organization’s overall security posture, ensuring that all identified risks are appropriately addressed.

3. Access Control:

Integrate access control mechanisms that satisfy both SOC 2 and ISO 27001. This includes role-based access, multi-factor authentication, and regular access reviews. Establishing these controls confirms that only authorized individuals can access sensitive information and reduces the risk of unauthorized access and data breaches.

For example, service accounts should have non-repudiation controls, certifying that all actions can be traced back to a specific individual. This meets the requirements of both compliance frameworks and enhances accountability and security within the organization.

4. Incident Response:

Crafting a comprehensive incident response plan that fulfills both the requirements of SOC 2 and ISO 27001 prepares your organization in the event of a data breach or cybersecurity incident. 

The unified plan should outline procedures for detecting, reporting, and responding to incidents. Regularly testing and updating the incident response plan will enable it to remain effective and relevant, allowing your organization to respond swiftly and effectively when it really counts.

5. Continuous Monitoring:

By creating continuous monitoring solutions that provide visibility into security events and conformitystatus for both SOC 2 and ISO 27001, your organization will create a robust security monitoring process. Utilizing tools and platforms that offer integrated reporting and alerting capabilities simplifies compliance management, enabling your organization to quickly identify and address potential security issues between second-party assessments and third-party audits.

Key Control Overlaps

Another area where a unified ISO 27001/SOC 2 approach may benefit your organization is in the key controls that overlap between the two frameworks.

1. Access Control (SOC 2 CC6.1, ISO 27001 A.5.18, A.8.2, A.8.3, A.8.5):

Both ISO 27001 and SOC 2 require mechanisms that allow only authorized individuals to access sensitive information. Controls include user access reviews, role-based access controls, and multi-factor authentication. By implementing these controls, your organization will safeguard its sensitive information and data from unauthorized users, and this in turn will reduce the likelihood of unauthorized access and data breaches.

2. Risk Assessment (SOC 2 CC3.2, ISO 27001 Clause 8.2, Clause 8.3):

As mentioned above, both standards mandate regular risk assessments to identify, evaluate, and mitigate risks to your organization’s information security. Risk treatment plans should address identified risks with controls that meet the more stringent of the two standards. A combined approach to ISO 27001 and SOC 2 will ensure that all potential risks are identified and appropriately addressed, which will greatly enhance your organization’s overall security posture.

3. Incident Response (SOC 2 CC7.1, ISO 27001 A.5.24, A. 5.25, A.5.27):

SOC 2 and ISO 27001 require robust incident response plans that include the detection, reporting, and remediation of security incidents. Your organization will need to implement regular testing and updates to the plan, which are essential to ensure its effectiveness. A unified incident response plan will give your organization peace of mind when it comes to responding to security incidents swiftly and effectively, minimizing the impact on your operations.

4. Security Monitoring (SOC 2 CC5.3, ISO 27001 Clause 9.1, A.5.26, A.8.16):

Continuous monitoring of systems to detect and respond to security events is required by both standards. Tools should provide integrated reporting and alerting to facilitate compliance management. Rolling out continuous monitoring solutions establishes guardrails, demonstrating that your organization identifies and promptly addresses potential security issues, which then reduces the risk of data breaches and other security incidents.

5. Information Security Policies (SOC 2 CC1.1, ISO 27001 A.5.1):

Both frameworks require the establishment of comprehensive information security policies. Policies must be regularly reviewed and updated to reflect changes in the organization and regulatory environment. Creating comprehensive information security policies establishes that the organization has a solid foundation for its security and compliance programs, reducing the risk of non-compliance and enhancing overall security.

Leveraging Technology for Compliance

Vanta's Role in Streamlining Compliance:

Vanta, an automated security and compliance platform, offers a comprehensive solution for managing compliance efforts across multiple frameworks, including ISO 27001 and SOC 2. By using Vanta, your organization can strategize, roadmap, project manage, and synthesize its SOC 2 and ISO 27001 efforts simultaneously. Vanta's platform provides automated evidence collection, continuous monitoring, and real-time compliance status, reducing the manual effort required from internal teams.

Specific features of Vanta include:

• Automated Evidence Collection: Vanta automates the collection of evidence required for compliance, reducing the effort required from internal teams.
• Continuous Monitoring: Vanta continuously monitors security controls and alerts teams to any issues that may impact compliance.
• Integrated Reporting: Vanta provides integrated reporting that simplifies the process of demonstrating compliance to auditors.

By leveraging Vanta's capabilities, your organization can streamline its compliance efforts, reducing the time and resources required to achieve and maintain SOC 2 and ISO 27001 certification.

The Importance of Expert Guidance:

While internal teams may have the capability to manage compliance projects, the complexity of achieving SOC 2 and ISO 27001 simultaneously often necessitates expert guidance. Partnering with a firm like BD Emerson simplifies the process. BD Emerson provides tailored consulting services, including vCISO services, Vanta implementation, and vDPO (virtual Data Protection Officer) services, that ensure controls are implemented correctly and efficiently, satisfying both standards.

BD Emerson CPA is a wholly independent firm that performs SOC 2 audits and attestations. Its independence ensures that audits are conducted with the highest level of integrity and objectivity. 

BD Emerson has partnered with Mastermind, an accredited management systems certification body, to perform ISO 27001 certification audits (including extensions like ISO 27017, ISO 27018, ISO 27701, ISO 42001, and CSA STAR). 

This partnership between BD Emerson and Mastermind ensures that ISO 27001 certification audits are conducted by competent, experienced, and individually certified experts who understand the intricacies of these standards while fostering seamless hand-offs of third-party assessments for clients of BD Emerson.

Expert consultants can identify synergies between the frameworks, provide insights into best practices, and help avoid common pitfalls. By leveraging this expertise, your organization can achieve compliance more efficiently and effectively and avoid the loss of business or the incurring of fees as a result of noncompliance.

Maximizing Efficiency with Vanta and BD Emerson

1. Strategic Planning:

Consider using Vanta to develop a strategic compliance roadmap that outlines the steps required to achieve SOC 2 and ISO 27001 simultaneously. This roadmap should include timelines, responsibilities, and milestones. BD Emerson provides guidance on prioritizing controls and activities, ensuring that efforts are focused on areas with the highest impact.

2. Project Management:

Vanta's project management tools help coordinate activities, track progress, and ensure that all compliance tasks are completed on time. BD Emerson's consultants can offer additional project management support, making certain that projects stay on track and within budget.

3. Synthesis of Efforts:

In synchronizing efforts for both SOC 2 and ISO 27001 frameworks, your organization will achieve compliance more efficiently. You can synthesize the effort required by leveraging shared documentation, evidence, and controls. Vanta's platform provides a centralized repository for compliance documentation, making it easy to manage and update. This centralized approach ensures that all compliance-related information is easily accessible, reducing the risk of duplication and streamlining the compliance process.

Example Control Synergies

Here are a few examples of the controls that you can implement in half the time if you combine your compliance efforts.

Access Control and Non-Repudiation:

As mentioned, SOC 2 requires access controls to ensure only authorized individuals can access sensitive data. ISO 27001 extends this requirement by requiring non-repudiation measures, ensuring that all actions can be traced back to specific individuals as a form of demonstrating governance through asset ownership. Implementing non-repudiation controls satisfies both requirements, establishing comprehensive security and compliance.

Incident Management:

SOC 2 and ISO 27001 both require incident response capabilities. A combined incident response plan that includes detection, reporting, and remediation processes meets the requirements of both and means half of the work. Your organization will also need to implement regular testing and updates to the incident response plan, so that you remain compliant and stay efficient.

Risk Management:

Risk assessment and management are crucial controls in both frameworks. Conducting a single, thorough risk assessment that identifies risks relevant to both frameworks allows organizations to address potential threats in a comprehensive and time-conscious manner. This unified risk assessment can then inform a risk treatment plan that addresses identified risks with controls that meet the strictest requirements of either standard.

Security Monitoring:

If your organization already needs to roll out continuous monitoring of its systems for one compliance scheme, it might as well create a monitoring control that aligns with both criteria. Continuous monitoring of systems to detect and respond to security incidents is a key requirement of both SOC 2 and ISO 27001. Tools should provide integrated reporting and alerting to facilitate compliance management. Integrating ongoing monitoring solutions is critical when it comes to safeguarding your organization’s systems and data.

Information Security Policies:

The required policies of both SOC 2 and ISO 27001 are another example of synergy between the two frameworks. These topic-specific policies should cover access rights, information access restrictions, secure authentication, data masking, information backup, as well as information security awareness, education, and training. As with each of these controls, regularly reviewing and updating policies to stay aligned with evolving standards and organizational changes will ensure that your organization remains compliant with both SOC 2 and ISO 27001 over time, reducing the risk of non-compliance.

Leveraging Vanta and BD Emerson for Compliance Success

Vanta Implementation:

Vanta offers a robust platform that streamlines the compliance process for multiple frameworks, including SOC 2 and ISO 27001. By automating evidence collection, providing continuous monitoring, and offering integrated reporting, Vanta reduces the manual effort required from internal teams.This allows your organization to focus on its core business activities while making certain that compliance requirements are met.

vCISO Services:

BD Emerson's vCISO (virtual Chief Information Security Officer) services will provide your organization with the strategic leadership needed to manage its information security programs. A vCISO can help develop and implement a comprehensive security strategy that aligns with the requirements of both SOC 2 and ISO 27001. This service does not just include identifying and prioritizing risks, developing policies and procedures, and ensuring that security controls are effectively implemented and maintained, BD Emerson also supports all aspects of security engineering, application security, managed security operations center, device management, and everything in-between. The vCISO service was built to give you access to every expert your organization needs to drive great security, adopt change rapidly, and meet standards to obtain compliance with SOC 2, ISO 27001, and much more.

vDPO Services:

If your organization handles personal data, compliance with data protection regulations is critical. BD Emerson's vDPO (virtual Data Protection Officer) services will ensure that your organization meets the requirements of data protection regulations, such as GDPR. A vDPO can help develop and implement data protection policies, conduct data protection impact assessments, and ensure that data processing activities are compliant with relevant regulations. Beyond GDPR, our vDPO works with you on meeting the Privacy Trust Service Criteria (TSC) from SOC 2 and serves as a lead on your ISO 27701 (Privacy Information Management Systems) program.

Conclusion

Achieving SOC 2 and ISO 27001 simultaneously offers significant advantages in terms of cost efficiency, time savings, and reduction of redundancies. By adopting a combined approach to control implementation and leveraging technology platforms like Vanta, your organization can streamline its compliance efforts. Expert guidance from consulting firms like BD Emerson, through services such as vCISO and vDPO, further simplifies the process, confirming that controls are implemented correctly and efficiently. The result is a rigorous security posture that meets the requirements of both standards, providing assurance to stakeholders and enhancing your organization’s overall resilience.

This comprehensive approach not only reduces the burden of achieving compliance but also positions your organization to respond effectively to evolving security threats and regulatory requirements. By integrating SOC 2 and ISO 27001 efforts, your company can achieve a more efficient, cost-effective, and resilient compliance program, ultimately leading to stronger security and greater trust with customers and partners.