FAQ: Are Third Party Vendor reviews required for SOC 1 and SOC 2?

FAQ: Are Third Party Vendor reviews required for SOC 1 and SOC 2?

As of the latest SSAE 18 and SOC 2 updates, vendor management and review of any relevant compliance / audit reports (SOC 1, SOC 2, HITRUST, ISO 27001/2, PCI, etc.) has become a key component of monitoring for potential security and compliance risks when outsourcing functions that use a third party’s data.

Additional FAQs

How does a company get SOC 2 certified?

SOC 2 is not a certification, it’s a third party attestation of the controls in place at your organization. Typically when a company is asking this question though the answer

What are the costs of SOC 2?

There are a lot of factors that go into responding to this question. There are audit, consulting, software, internal resources, and other factors to consider which can easily grow from

What is a SOC 2?

The Service and Organization Controls 2 Report, formally known as a Service Organization Controls Report as of the most recent update to the SSAE 18 audit standard. A SOC 2 report

Are Representation Letters Required in SSAE 18?

Previously in SSAE-16 a Management Representation Letter was highly recommended and common practice, however, they were not explicitly required to be obtained except in certain existing subject matter sections. This

Get Our Emails

SOC Reporting Guide