What is the difference between SOC 2 Type 1 and Type 2?
SOC 2, which stands for Service Organization Control 2, is a widely recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA) for assessing the internal controls of service organizations. SOC 2 report are commonly used by service organizations to demonstrate their commitment to data security, availability, processing integrity, confidentiality, and privacy. The main difference between SOC 2 Type 1 and Type 2 audits is the scope and duration of the audit period: SOC 2 Type 1: A SOC 2 Type 1 audit evaluates the design and effectiveness of an organization's controls at a specific point in time. It provides an opinion on whether the controls are suitably designed and implemented as of a particular date, but does not assess the ongoing effectiveness of the controls over a period of time. SOC 2 Type 2: A SOC 2 Type 2 audit, on the other hand, assesses the design, effectiveness, and operational testing of an organization's contro...