Differences between a SOC 1 and a SOC 2
A SOC 1 report, also known as a Service Organization Control (SOC) 1 report, is a type of audit report that provides information about an organization’s controls that are relevant to its financial reporting. The purpose of a SOC 1 report is to help ensure that an organization’s controls are appropriate and effective for the purpose of financial reporting.
A SOC 2 report, on the other hand, is a type of audit report that provides information about an organization’s controls related to security, availability, processing integrity, confidentiality, and privacy. The purpose of a SOC 2 report is to help ensure that an organization’s controls are appropriate and effective for the purpose of protecting the confidentiality, integrity, and availability of its systems and the data processed by those systems.
Both SOC 1 and SOC 2 reports are intended to provide assurance to stakeholders, such as customers and regulators, that an organization has controls in place to protect sensitive information and systems. SOC 1 reports are typically used by organizations that provide services that are relevant to financial reporting, while SOC 2 reports are used by organizations that handle sensitive data or provide online services.
