All You Need to Know About the Soc Type 2 Reports for Your Organization
A SOC 2 report, short for system and organization control, is given to the organization, which demonstrates that it has apt internal controls in place for its data systems so that they follow the Trust Services Criteria. These principles basically apply to the organizations, which don’t process or store information for their clientele like the cloud hosting companies or/and data processing companies.
Depending on the requirements of the clients, the organization has to demonstrate that it has the controls in the right place to meet the above Criteria.
WHAT IS TRUST SERVICE PRINCIPLES AND CRITERIA?
This Criteria includes:
- Availability
- Security
- Processing integrity
- Confidentiality of information
- Privacy of information
Clients usually use these SOC 2 reports for demonstration to the service providers complying with the above criteria. Thus, by SOC 2 reports, you can demonstrate that your internal controls are effective and in the right place.
WHAT DEOS SOC2 REPORT CONSISTS?
A SOC type 2 report is made up of two parts, Type I and Type II, each of which have a different value for your clientele.
Type I:
This is usually issued right after a basic audit that includes the overview of the information systems and controls of the company, to ensure that it complies with the Trust Principles and Criteria. This report provides no assurance on the effectiveness of the company’s internal controls but can only be seen as a mile marker on the compliance road.
Type II:
To show how good your compliance is you need Type II report. The clients actually want to see this report as this report contains every detail of the tests that are carried out by the auditor and lists your company’s performance. This gives assurance to the clients that you comply with the Criteria.
For the best SOC 2 reports, check out at SOC Assurance.
