What is WebTrust and SysTrust?
Table of Contents
What is WebTrust and SysTrust?
The AICPA developed SysTrust and WebTrust to enable CPAs to build new practice niches. SysTrust applies to a wide variety of systems, while WebTrust focuses entirely on the Internet. SysTrust examines the reliability of the systems themselves and WebTrust attests to controls over Internet-based transactions.
What are the five trust services principles?
There are five trust service principles which include:
- Security.
- Availability.
- Processing integrity.
- Confidentiality.
- Privacy.
What are the four components that are consistently represented in the AICPA’s TSP 100 principles and criteria?
As to the actual Trust Services Principles and Criteria (TSP), they comprise of the following:
- Security.
- Availability.
- Processing Integrity.
- Confidentiality.
- Privacy.
Which of the 5 trust services criteria is required for every SOC 2?
Security *Security is the one trust service category that is generally required for every SOC 2 audit.
What is SysTrust?
SysTrust is a type of assurance service performed by a licensed CPA or CA to independently test an organization’s system and to offer assurance on the system’s reliability.
What is WebTrust audit?
The Webtrust audit covers the validation processes that are followed to obtain identity as well as a large amount of technical security configuration and management.
What trust service principles should a first time auditee select?
The AICPA specifies five main principles, namely:
- Security.
- Availability.
- Processing integrity.
- Confidentiality.
- Privacy.
What is the difference between a SOC 1 and a SOC 2?
Summary. A SOC 1 report is designed to address internal controls over financial reporting while a SOC 2 report addresses a service organization’s controls that are relevant to their operations and compliance. One or both could be right for your organization.
Which of the following principles must always be included in a SOC 2 auditing report?
The principles again are: Security, Availability, Confidentiality, Processing Integrity and Privacy. Security must be included in any non-privacy principle SOC 2 audit engagement.
What is a SysTrust audit?
What is a WebTrust audit?
Why should a business consider a WebTrust seal?
The WebTrust seal is being adopted by CPAs and their Chartered Accountant counterparts around the world. It provides assurance that client websites meet high standards of business practice disclosure, transaction integrity, privacy, and security.
Which of the 5 trust services categories below is mandatory for all soc2 engagements?
Security is the category that applies to all engagements and is what the remaining Trust Services Criteria are based on. In a non-privacy SOC 2 engagement, the security category must be included.
What are the three principles of information security?
The CIA triad refers to an information security model made up of the three main components: confidentiality, integrity and availability.
Is ISAE 3402 the same as SOC 2?
ISAE 3402 is a third party (mainly suppliers) assurance mechanism in the form of SOC (Service Organisation Controls). There are three kinds of SOC reports: SOC1 report – Relates to assurance on controls that could impact financial statements. SOC2 report – Relates to assurance on IT controls.
Do you need both SOC 1 and SOC 2?
You may also need to comply with SOC 1 as part of a compliance requirement. If your company is publicly traded, for example, you will need to pursue SOC 1 as part of the Sarbanes-Oxley Act (SOX). SOC 2, on the other hand, is not required by any compliance framework, such as HIPAA or PCI-DSS.
Can an auditor rely on a Type 2 report?
A Type 2 audit report provides the user entity and the user entity auditors with a higher level of assurance for them to rely on. Once a Type 2 audit report is completed, the service organization will continue repeating the Type 2 thereafter.
What is the difference between SOC 1/2 and 3?
A SOC 3 report, just like a SOC 2, is based on the Trust Services Criteria, but there’s a major difference between these types of reports: restricted use. A SOC 3 report can be freely distributed, whereas SOC 1 and SOC 2 reports can only be read by the user organizations that rely on your services.
