The SOC 2 Compliance is an evaluation of the security controls and models of a company. It assists in ensuring that the company will be following an established control model and that there are well-documented procedures for identifying risks. The assessment for SOC 2 compliance is also helping to measure any possible data breaches or vulnerabilities and have a process in place for responding and investigating these findings.
It’s important to note that the SOC 2 compliance does not provide assurance directly related to security, as this is an area where other assessments may be needed. It should also be said that this assessment isn’t designed for regulatory purposes or required by law. However, it can help organizations meet compliance requirements or guidelines.
A SOC 2 compliance report is a document that provides an overview of the company’s information security program. The report can be used as evidence to provide the coverage necessary for compliance and certification purposes.
The reports are created by professionals who specialize in governance, risk management, and assessments, and they are based on an established control model. A SOC 2 compliance report is also helpful because it can help identify any vulnerabilities or breaches and provide information on responding to these findings.
The information contained within this document covers all functional elements of the Security Standards Council (SSC) issued Security Controls S-XML Specification, which is required for all third-party audits conducted by SSAE 16 (Engagements Other Than Due Diligence) and SSAE 18 (Due Diligence) auditors.
The SOC 2 Compliance is an essential report for any organization that wants to be compliant with regulations and guidelines, but it isn’t designed as a security measure. However, organizations can use the information in this report not only to meet compliance requirements or standards but also to identify vulnerabilities and breaches. This type of assessment is typically used by organizations that want to be sure their security control framework meets all data protection requirements.
What is ISO 27001
ISO 27001 is an internationally recognized standard for information security that provides a framework from which organizations can design, implement, and maintain their information security management system. Organizations may choose to use ISO 27001 as the basis of the SOC report because this type is designed for compliance with regulations and includes provisions related to risk assessment, confidentiality, integrity, and availability.
There are a lot of benefits that organizations can receive from receiving ISO 27001 certification. One example is the assurance that the information security framework is comprehensive and covers the various risks. Another benefit that many organizations find is that it improves their reputation among their stakeholders because it demonstrates their commitment to upholding the high standards needed. The certificate also provides an understanding of what needs to be done to maintain security. Relying on SOC 2 evaluations and audits alone may not provide enough protection, but by receiving ISO 27001 certification, companies can be assured they have all of the bases covered.
Other benefits include being able to take advantage of more cost-effective and flexible approaches for information security management and increased levels of visibility into their information security posture and risks.
This type of assessment is typically used by organizations that want to ensure their security control framework meets all data protection requirements. ISO 27001 specifies management practices to protect information assets in a way that helps avoid risks of harm or disruption to the organization.
SOC 2 vs. ISO 27001
SOC stands for Service Organization Controls (or Standards). At the same time, ISO 27001 is an International Standard that specifies management practices to protect information assets in a way that helps avoid risks of harm or disruption to the organization.
The differences between these two certifications are minor. Both certifications can help you maintain the integrity of your data and provide a way to demonstrate compliance with specific regulations. However, some key differences make an audit go differently for each type of certification: SOC is a set of auditing standards established by independent boards made up primarily of stakeholders from outside the company, whereas ISO 27001 has been developed and maintained by a non-governmental organization.
Both SOC and ISO 27001 are voluntary, but organizations must undergo a certification process to meet specific security standards before receiving the certificate. Unlike other certifications, these two involve an audit by a third-party company tasked with confirming compliance. The auditing process is overseen by independent boards made up of people outside the business.
One of the main differences between SOC 2 and ISO 27001 is that both are designed for different purposes. SOC reports can be used as evidence to meet compliance, certification, or similar requirements. At the same time, an assessment is done under ISO 27001 is typically designed for organizations that want to be sure their security control framework meets all the data protection requirements.
SOC certification is more likely to be required by businesses that deal with a lot of sensitive data on behalf of their clients or partners. In contrast, ISO 27001 may not be as beneficial for those companies because SOC doesn’t touch on privacy and confidentiality.
Hopefully, this article gave you the tools to help determine whether your organization is better suited towards SOC 2 or ISO 27001.
If you’re unsure which one of these two certifications is best for your organization, contact our team of experts today! We’re happy to help you decide which option will work the best for your company and make sure you meet all security standards across your business.