Two Audits, One Stone: The Benefits of Combining PCI and SOC 2 Audits

For many businesses, especially those dealing with sensitive customer data, compliance with industry standards like PCI DSS and SOC 2 is not optional. These frameworks are crucial for protecting customer information and maintaining trust. But juggling separate audits for each can be a drain on resources and time. That’s where the magic of combining PCI and SOC 2 audits comes in.

Why Combine PCI and SOC 2 Assessments?

While PCI DSS (Payment Card Industry Data Security Standard) focuses specifically on cardholder data, SOC 2 (System and Organization Controls 2) offers a broader examination of your organization’s security, availability, processing integrity, confidentiality, or privacy controls. Because there’s significant overlap between the requirements of these two frameworks, conducting assessments concurrently can offer several key benefits:

• Efficiency and Cost Savings: Streamlining the audit process saves time and money. You’ll reduce the need for duplicate documentation, interviews, and control testing, freeing up valuable resources.
• Reduced Audit Fatigue: Let’s face it, audits can be disruptive. Combining assessments minimizes the impact on your team and reduces the overall audit burden.
• Holistic Security Posture: A combined assessment provides a more comprehensive view of your organization’s security posture, highlighting potential vulnerabilities across different areas.
• Improved Risk Management: By addressing both frameworks simultaneously, you gain a deeper understanding of your risks and can develop a more robust risk management strategy.
• Enhanced Reputation and Trust: Demonstrating compliance with both PCI DSS and SOC 2 builds confidence among customers and partners, strengthening your reputation in the market.

Haven’t Assessed Your Compliance Yet?

If your company handles sensitive customer data and hasn’t undergone a formal assessment against these crucial frameworks, it’s time to take action. A validated assessment can help you identify gaps in your security posture and ensure you’re meeting the requirements to protect your customers and your business.

Cultivating a Security-First Culture

Beyond the audits themselves, fostering a security-conscious and audit-minded culture within your organization is paramount. Information security and compliance must be a high priority across all departments, not just within the IT team. This means:

• Embedding security into everyday processes.
• Promoting ongoing employee training and awareness.
• Encouraging proactive risk identification and mitigation.

By prioritizing security and compliance, you not only improve your organization’s ability to handle sensitive data but also demonstrate a commitment to protecting your customers, which can enhance trust and loyalty.

How to Make the Most of a Combined PCI and SOC 2 Audit

• Choose the Right Auditor: Select an auditor experienced in both PCI DSS and SOC 2 frameworks. This ensures a smooth and efficient process. CompliancePoint, as a Qualified Security Assessor (QSA) for PCI DSS and experts in SOC 2, can assist you in both of these efforts.
• Plan and Coordinate: Develop a clear plan outlining the scope and timeline for the combined assessment. Ensure key stakeholders are aligned and understand their roles.
• Leverage Existing Documentation: Identify overlapping controls and documentation requirements to avoid duplication of effort.
• Focus on Remediation: Use the audit findings to identify weaknesses and implement corrective actions to strengthen your overall security posture.
• Utilize a GRC Tool: Employing a Governance, Risk, and Compliance (GRC) tool like FieldGuide can significantly streamline your compliance journey. These tools provide a centralized platform to track controls, manage assessments, automate workflows, and monitor progress, saving you valuable time and effort.

In conclusion, combining PCI and SOC 2 audits is a strategic move that can save you time, money, and resources while enhancing your security posture and building trust with your stakeholders. By taking a proactive and coordinated approach, leveraging technology like GRC tools, fostering a security-first culture, and with the help of experienced partners like CompliancePoint, you can turn the daunting task of compliance into an opportunity for growth and improvement.

CompliancePoint has helped organizations of all shapes and sizes achieve their PCI and SOC 2 compliance goals. Contact us at connect@compliancepoint.com to learn more about how our services can help your organization.