FAQ: SOC1 vs SOC2: Differences?

FAQ: SOC1 vs SOC2: Differences?

At a high-level, SOC1 is about financial controls, while SOC2 focuses on information security controls. They serve different end-user customers and stakeholders.

Additional FAQs

SOC 1 Report – Who needs it?

Organizations that handle financial transactions, especially those impacting external financial statements, are good examples of those who need SOC1 audits.

We have a SOC 2. How much effort is GDPR?

Assuming your Company is subject to GDPR, the level of effort depends a lot on the maturity of Organizational and Privacy controls. The Organizational will be mostly met by implementation

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

How often is a SOC 2 audit required?

SOC 2 Type II audits should be performed annually, however, there are times you may choose to perform them twice a year. Additionally, if recently completing a SOC 2 Type

How long does a SOC 1 take to complete?

This depends on how prepared and how many resources an Organization has to dedicate to the project. The first time through, usually a readiness assessment would be performed, and then

Get Our Emails

SOC Reporting Guide