Sometimes it seems like every source of information has a vastly different standard for what is enough, and it is difficult to know who to trust. For instance, some will insist that startups basically need to hire a full-time personnel to perform the risk assessment! 

Does SOC 2 Mandate Risk Assessment? 

You may have heard it said before, and we at Render Compliance have even said, that there are no prescribed controls for the SOC 2 framework. And this is generally true. The SOC 2 framework dictates that the organization formulates its own controls to meet the standardized Trust Services Criteria.  

However, risk assessment is built into the SOC 2 framework and accompanying requirements. It formulates the critical process through which management must determine which controls should be in place. It’s effectively a control that all the other controls are built on. 

So effectively – yes, risk assessment is required for SOC 2 compliance. 

What type of risk assessment do I need? 

The details of a risk assessment may vary based on factors such as the organization’s size, industry, operations, and system complexity. Each company must decide the appropriate form of assessment. At a minimum, however, the process should include:

A) interviewing department heads or team leaders to identify critical assets,

B) analyzing what are the primary threats to those assets, and

C) prioritizing response and remediation of those risks.  

Looking for an auditor who can help guide you through the SOC 2 process? –  Contact Render