What is SOC 2?

• Purpose:

SOC 2 is a framework and a report that demonstrates a service organization’s controls are in place to secure the services they provide, focusing on the security, availability, processing integrity, confidentiality, and privacy of systems and data. 

• Developed by:

The American Institute of Certified Public Accountants (AICPA). 

• Target Audience:

Primarily used by service organizations with US-based customers, partners, and other stakeholders. 

• Key Areas of Focus:

• • Security: Protecting systems and data from unauthorized access. 

• • Availability: Ensuring systems are accessible as needed. 

• • Processing Integrity: Guaranteeing data processing is accurate, timely, and authorized. 

• • Confidentiality: Protecting sensitive information from unauthorized disclosure. 

• • Privacy: Safeguarding personally identifiable information. 

• Types of SOC 2 Reports:

• • SOC 2 Type 1: Evaluates the design and implementation of internal controls at a specific point in time. 

• • SOC 2 Type 2: Evaluates the design, implementation, and operating effectiveness of internal controls over a period of time, providing greater assurance of control effectiveness. 

• Benefits of SOC 2 Compliance:

• • Demonstrates a commitment to securing data and systems. 

• • Builds and retains trust with customers. 

• • Reduces the risk of data breaches and associated costs. 

• • Maintains a favorable reputation. 

• • Helps customers reduce the risk of bringing you on as a vendor. 

• • Verifies what measures you have in place to protect their data. 

• • Shows you have a strong data security posture. 

• • Unlocks deals with high-value clients and business partners that require a SOC 2. 

• • Demonstrates trustworthiness with your stakeholders.