Information Technology Industry

SOC2/SOC3

SOC 2, or Service Organization Control 2, is a widely recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA) for all service providers that process and store customer data. SOC 2 audits evaluate a company's information security policies, procedures, and controls based on five trust principles: security, availability, processing integrity, confidentiality, and privacy. Achieving SOC 2 compliance is important for information technology companies because it demonstrates their commitment to protecting their customers' data and meeting industry standards for information security. SOC 2 compliance can also give information technology companies a competitive advantage, as it can help establish trust with customers and differentiate them from competitors who may not be SOC 2 compliant. By undergoing a SOC 2 audit and achieving compliance, information security companies can improve their overall security posture and assure their customers that their data is being protected to the highest standards.

SOC 3 differs in its scope and level of detail. SOC 2 reports are more detailed and provide more in-depth information on a company's information security policies, procedures, and controls. SOC 2 reports are intended for use by stakeholders who require more detailed information about a company's information security practices, such as potential customers or business partners. In contrast, SOC 3 reports provide a summary of the same information as SOC 2 reports but are less detailed and do not contain the same level of technical information. SOC 3 reports are intended for use by stakeholders who are interested in a high-level summary of a company's information security practices, such as potential customers or investors. Ultimately, the choice between SOC 2 and SOC 3 depends on the specific needs of the stakeholders who will be using the report. No matter the need, Cadre can help.