SOC 2

SOC 2 is a compliance framework that evaluates how organizations manage customer data based on five trust service principles: security, availability, processing integrity, confidentiality, and privacy. It ensures robust data management and protection practices.

What is SOC 2?

SOC 2 stands for System and Organization Controls 2, a framework developed by the American Institute of CPAs (AICPA) to assess how organizations manage customer data based on five “trust service principles”: security, availability, processing integrity, confidentiality, and privacy. Understanding SOC 2 meaning is essential for businesses that handle sensitive information and need to demonstrate a commitment to maintaining high standards of data security and management.

What is SOC 2 Compliance?

SOC 2 compliance refers to an organization’s adherence to the framework’s guidelines to ensure the secure management of customer data. Compliance helps protect both the company and its clients from data breaches and ensures that the organization’s processes meet industry standards for data security and privacy. Achieving SOC 2 compliance signifies that a company has implemented robust internal controls.

SOC 2 compliance meaning extends beyond meeting a standard; it represents an organization’s dedication to safeguarding data and instilling trust with clients and partners.

Difference Between SOC 1 and SOC 2

The difference between SOC 1 and SOC 2 lies in their focus. SOC 1 pertains to internal controls over financial reporting and is relevant for service providers affecting client financial statements. SOC 2, on the other hand, focuses on controls that pertain to the five trust service criteria related to data security and privacy, making it more applicable for tech and SaaS companies.

How to Get SOC 2 Compliance

How to get SOC 2 compliance involves several steps:

  • Assess Current Systems: Review current data management and security practices against SOC 2 standards.
  • Implement Necessary Controls: Make changes to policies and systems to align with SOC 2 requirements.
  • Engage a Certified Auditor: Hire a licensed CPA or auditing firm that specializes in SOC 2 to perform an independent review.
  • Undergo the Audit: The audit evaluates your organization’s controls and ensures they meet SOC 2 criteria.

What are SOC 2 Requirements?

SOC 2 requirements are based on the following trust service principles:

  • Security: Protecting systems against unauthorized access.
  • Availability: Ensuring systems are operational and accessible.
  • Processing Integrity: Ensuring systems process data accurately, completely, and timely.
  • Confidentiality: Protecting information designated as confidential.
  • Privacy: Handling personal information according to applicable standards.

SOC 2 Reporting

SOC 2 reporting comes in two types: Type I, which assesses the design of an organization’s controls at a specific point in time, and Type II, which evaluates the operational effectiveness of those controls over a period of time.

How FaceUp Can Help with SOC 2 Compliance

FaceUp can be an invaluable tool for organizations pursuing SOC 2 compliance. By providing an anonymous reporting platform, FaceUp enables employees to report any potential breaches or concerns related to data security and privacy, promoting a culture of vigilance and accountability. This support helps businesses maintain and monitor their SOC 2 standards, ensuring continuous improvement and adherence to best practices.