SOC 2 Type 1 or Type 2: Which Should You Choose?

Posted on by Melissa Lomeli

Which SOC 2 Report is Right for Your Business?

The time has come for your service organization to get SOC certified. Whether a client requested one, or if you have made this decision for your business, it’s important to know if you should get a SOC 2 Type 1 or Type 2 report.

SOC 2 reports can be used to meet the needs of clients of service organizations that need information and assurance about the controls that impact the security, availability, and processing integrity of the systems the service organization uses to process users’ data, and the confidentiality and privacy of the information processed by these systems. These reports can include from one to all five of the Trust Services Principles (TSPs), which are Security, Availability, Processing Integrity, Confidentiality, and Privacy. Each report is required to include at least Security.

Both Type 1 and Type 2 report on the non-financial reporting controls and processes at a service organization related to the Trust Services Criteria. A Type 1 report will do so at a specific moment in time. A Type 2 report will attest the controls at a service organization over a period of at least 6 months.

Businesses pursuing a SOC 2 audit will normally get a Type 1 report for their first time, and then move on to a Type 2 for their following audit period. This will allow them to become familiar with the process, and focus more on learning the description of their systems the first time around.

A Rise in Demand for SOC 2 Type 1 and Type 2 Reports

SOC audits have been around for many years, however, a large number of businesses are unaware of their existence. However, that is slowly beginning to change. Many businesses are being required to receive certification by their customers and vendors. This certification provides a level of assurance and security that cannot be obtained any other way. As a specialized SOC Audit firm, we put service first with our rapid and affordable SOC process.

If you have any questions about which type of SOC audit is right for your business, please contact our office.