SOC 2

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Challenges Addressed by SOC 2

Benefits of SOC 2

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Comparison: ISO 27001 vs SOC 2

Frequently Asked Questions

• What does SOC 2 stand for?

  SOC 2 stands for System and Organization Controls 2, a compliance standard developed by the American Institute of Certified Public Accountants (AICPA). It is designed to ensure that service providers securely manage customer data, demonstrating strong controls around data protection, cybersecurity, and risk management.

  SOC 2 compliance is essential for businesses handling sensitive client data, cloud-based services, or technology infrastructure. It reassures customers that their information is protected against unauthorised access, data breaches, and security failures.

  If your organisation is looking to build trust, enhance security, and meet client security requirements, achieving SOC 2 compliance can be a valuable investment.

• What is the difference between SOC 1 and SOC 2?

  SOC 1 and SOC 2 both provide assurance reports, but they focus on different areas of security and compliance:

  • SOC 1 is primarily concerned with financial controls and reporting. It is relevant for organisations that process financial transactions or provide services that impact financial statements (e.g., payroll providers, accounting firms, and financial institutions).
  • SOC 2 focuses on information security, privacy, and data protection. It is relevant for any service provider that handles, stores, or processes customer data, ensuring their security practices meet industry standards.

  If your organisation provides cloud-based services, SaaS products, IT outsourcing, or managed security solutions, SOC 2 compliance demonstrates your commitment to protecting sensitive information.

• Is SOC 2 a cyber security framework?

  Yes, SOC 2 is considered a cybersecurity compliance framework that evaluates an organisation’s ability to safeguard customer data. While it is not a technical security standard like ISO 27001 or NIST, it establishes best practices for risk management, cybersecurity, and data protection.

  SOC 2 is based on five Trust Services Criteria (TSC): Security, Availability, Processing Integrity, Confidentiality, and Privacy. By implementing SOC 2 controls, organisations strengthen their security posture and provide assurance to clients, partners, and regulators that their data is being handled responsibly.

• If SOC 2 was developed in North America, what is the European equivalent?

  SOC 2 was originally designed for the North American market, but it is widely recognised worldwide, especially for organisations with global clients.

  In Europe, the closest equivalent is ISO 27001, an internationally recognised information security management system (ISMS) standard. While both SOC 2 and ISO 27001 focus on data security and risk management, they differ in scope and implementation:

  • SOC 2 provides independent attestation through an audit report, which is used to demonstrate security controls to clients and partners.
  • ISO 27001 is a certification-based framework that requires organisations to implement a structured risk management process and undergo formal certification by an accredited body.

  The best option depends on your business needs and client requirements. Many companies pursuing global security compliance choose to obtain both SOC 2 and ISO 27001, ensuring they meet the highest security standards across different regions.

  We offer SOC 2 and ISO 27001 advisory services, helping organisations navigate compliance, implement security controls, and successfully pass audits.

• What is a SOC 2 compliance checklist?

  A SOC 2 compliance checklist (also known as a SOC 2 audit checklist) is a set of guidelines, security controls, and best practices that organisations follow to prepare for a SOC 2 audit.

  The key steps include:

  1. Defining Scope – Determine which of the five Trust Services Criteria (TSC) apply to your organisation (Security is mandatory, while Availability, Processing Integrity, Confidentiality, and Privacy are optional based on business needs).
  2. Conducting a Risk Assessment – Identify potential risks to data security, infrastructure, and customer privacy.
  3. Implementing Security Controls – Establish policies for access management, encryption, incident response, and threat detection.
  4. Monitoring and Logging – Ensure that security events and access logs are tracked for compliance.
  5. Preparing for the SOC 2 Audit – Work with a qualified auditor to assess compliance and obtain an attestation report.

  Our team provides SOC 2 readiness assessments, gap analysis, and compliance roadmaps, ensuring a smooth and successful audit process.

• Is SOC 2 mandatory?

  No, SOC 2 is not a legal requirement, but many businesses require it to work with service providers that handle sensitive customer data.

  SOC 2 compliance is often requested by clients, investors, and partners as a security benchmark. Without a SOC 2 report, organisations may struggle to win contracts, secure partnerships, or gain trust in the market.

  If your business operates in the cloud, SaaS, IT services, or finance sector, achieving SOC 2 compliance can be a competitive advantage, positioning you as a trusted and secure service provider.

• What are the 5 criteria for SOC 2?

  SOC 2 is based on five Trust Services Criteria (TSC), which define the security and privacy controls required for compliance:

  1. Security – Ensuring that data is protected from unauthorised access, cyber threats, and security breaches (mandatory for all SOC 2 audits).
  2. Availability – Ensuring that systems and services are operational, resilient, and accessible when needed.
  3. Processing Integrity – Ensuring that data processing activities (e.g., transactions, computations) are accurate, complete, and reliable.
  4. Confidentiality – Ensuring that sensitive business data is properly classified, restricted, and encrypted.
  5. Privacy – Ensuring that personally identifiable information (PII) is collected, stored, and processed securely, in compliance with privacy laws.

  Our SOC 2 consultants help businesses implement TSC-aligned security controls, ensuring compliance and risk reduction.

• How often are SOC 2 audits done?

  A SOC 2 report is valid for 12 months from the date of issuance. To maintain compliance, organisations are encouraged to undergo SOC 2 audits annually.

  Annual audits help organisations:

  • Demonstrate ongoing security compliance to clients and regulators.
  • Ensure continuous improvement of cybersecurity policies and practices.
  • Meet evolving security expectations in a rapidly changing threat landscape.

  Organisations can choose between SOC 2 Type I (point-in-time assessment) and SOC 2 Type II (ongoing operational effectiveness over time), with Type II being the gold standard for security compliance.

  We assist businesses with SOC 2 audit preparation, policy development, and continuous monitoring, ensuring that compliance remains efficient and stress-free.

• What is a SOC 2 bridge letter?

  A SOC 2 bridge letter is a temporary security assurance document that organisations provide between SOC 2 audit periods. It reassures clients that security controls remain effective even if the latest SOC 2 report has expired and the next audit is still in progress.

  Bridge letters are considered best practice for businesses that need to maintain trust and demonstrate compliance while waiting for their next SOC 2 attestation.

  We help organisations draft bridge letters, maintain continuous SOC 2 compliance, and implement security controls to minimise audit gaps and client concerns.

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