It’s an excellent question and the one we get most often. Each of the compliance standards has specific requirements. The SOC 1 requirements are still largely determined by the entity; however, the controls must be comprehensive enough that an independent auditor can positively opine on the overall internal control framework design and effectiveness. You can prepare for a SOC 2 and HIPAA Security Rule audit in approximately the same amount of time as a SOC 1. As a rough estimate, we can generally assist a Company to be ready for the point-in-time audits between 3 to 6 months.
In our experience, PCI and ISO 27001 preparation require additional time than the other standards; however, our team helps companies achieve readiness for PCI, ISO 27001 and ISO 22301 audits in less than a year, as well.