About SOC 2 Audits
System and Organization Control is a well-documented report formulated during an audit. SOC 2 is an integral part of SOC; it bestows comprehensive details and data about a firm’s services. SOC 1 audits deal with financial information and data of the firm. The SOC 2 audits are more focused on IT and safety aspects. The SOC 2 framework guides companies in protecting the customer’s data and credentials in the cloud. It defines safety, mediums, processing, and privacy norms about the institution’s services. It analyses a firm’s internal assistance and data sets. SOC 2 lays a provision for safeguarding the customer’s data. The compliance requirements in SOC 2 are elaborately put by the American Institute of Certified Public Accountants ( AICPA ). Cybersecurity crimes are increasing rapidly; SOC audits lessen these risks.
Completing SOC 2 audits first needs a brief review of the audit objectives. A definite project plan and project timeline are created further. Test security controls are then set for the organizations to complete. All the results are recorded and documented in a full-fledged manner. The auditor then presents a detailed client report which shares the results and actions regarding the data security and operational effectiveness.
There are two types of SOC 2 reports which are described in the following sections-
SOC 2 Type I
SOC 2 Type I audits scrutinizes security controls only at a certain point. The type one auditing occurs after brief gaps and provides the results for short lapses. In type 1 auditing, a report is curated on the organization’s control design of control. They examine the logical, technical and administrative controls with utmost precision.
SOC 2 Type II
SOC 2 Type II checks the organizational safety and operation controls after long gaps. The control check generally occurs in the set period of six or twelve months. Type 2 auditing primarily focuses on examining data safety and controls.
Primary differences between SOC 2 Type I and SOC 2 Type II
SOC 2 Type I reports are easy to comprehend and formulate. They are prepared in less time. Fulfilling the compliance needs mentioned in Type 1 reports is easy for organizations. SOC Type 2 reports are very detailed and present a comprehensive approach to understanding the security norms. It needs more time to complete the compliance requirements as it sets many bars for fulfilling the security criteria—the SOC 2 Type 2 report assists in mitigating risks linked to third party technology assistance.
Conclusion
Investing in SOC 2 Type I and SOC 2 Type II audit is beneficial for firms. They can provide a more competitive and secure network to their customers, further strengthening their firm’s integrity. Both the SOC 2 reports augment risk management procedures and prevent organizational oversights. They minimize mismanagement in cloud services and reinforce the internal governance network. Boost the compliance posture of your organization by integrating SOC 2 Type I and SOC 2 Type II audits and seek endless benefits.
