ISO 27001 vs SOC 2: In this day and age where almost all businesses rely on cloud storage for their sensitive data, it is crucial for businesses to implement a specific information security technique.
When it comes to choosing between ISO 27001 vs SOC 2 certification, it is difficult to decide on the beneficiary.
Here in this blog, we have distinguished between these two types of information security techniques. This blog will help you determine what type of information security standard your organization should preferably adhere to.
These two security measures provide quality protection of a company’s valuable data and competitive advantages, making it difficult for users to decide which one to go for!
However, in order to choose one of them, you need to know the similarities and differences.
To learn about the distinction and parallelism between the two, we must first know about them. Let’s start with the connotations of these two information security methods.
What is ISO 27001 Certification?
ISO 27001 is part of a suite of certifications developed by the ISO/IEC 27000 series of information security programs
The ISO framework is a set of technologies provided to organizations to maintain their security standards. All of the encryption that a company uses to protect its data are bracketed into this set of programs.
They work on the basis of the Information Security Management System (ISMS).
What is SOC 2 compliance?
Service Organizational Control, or SOC for short, is an audit process. It is a framework and third-party verification of a company’s implementation of managing its customers’ data.
SOC 2 developed by AICPA, the American Institute of CPAs, as an integral part of their Service Organization Control reporting platform.
What are the similarities between the two?
Let’s discuss the similarities between these two prominent information security conformances:
- Address information security: Both security methods focus on how an organization can identify and solve its problems and adapt the right security measures to counteract the potential risks.
- Implementation of policies and procedures: Although both measures are based on different software systems, they invent similar procedures and policies. While the methods and policies can sometimes differ in some places, the goal of both methods is to achieve fair legality and ensure privacy.
- International Acceptance: Both ISO 27001 vs SOC 2 are internationally acceptable and applicable in the information security market. Compliance with any of these methods provides the recipient with privacy. Both frameworks offer data security around the globe.
- Management Responsibilities: Adherence to any of these methods requires representation and understanding of management responsibilities. This includes setting up the right framework and implementing a precise plan of action. Of course, everything is aimed at the information security of the company
- Demonstrates Management Commitment: Both techniques work in their individual and unique ways to enforce information security. Compliance with any of these methods demonstrates management’s commitment to the lawful security of its data.
- Assessors: Both ISO 27001 vs SOC 2 certification require an independent audit that is certified and accredited to provide the right assurance of controls and privacy. These meet the criteria set out by TSP in SOC and ISO protocols in ISO 27001.
These were some of the similarities between SOC 2 and ISO 27001.
And now we will further discuss with you the differences between these two information security measures.
What are the differences between the two?
ISO 27001: This is an industry standard that helps companies protect the availability and accuracy of their data.
SOC 2: This report facilitates verification of an authorized third party audit based on the five principles of the Trust Services Criteria or TSC.
Availability and Scope:
ISO 27001: Here, the scope and availability are based on the goals and possible service areas of the company. For example, if a company intends to offer its services worldwide, ISO 27001 certification is required to build a customer base.
SOC 2: SOC works with the storage and protection of customer data and has access to the customer data in one way or another. The applicability depends on the availability, the level of protection, the expectation of the stakeholders and the services offered.
ISO 27001: The audit and compliance helps companies achieve protection and evidence certification against data theft, which helps build trust with potential business partners or customers.
SOC 2: This audit makes it easier for management to report to their customers that they have met the necessary security criteria, thereby ensuring that their valuable information is protected from unwanted access.
ISO 27001: This is a certification that implies compliance of the company’s information security with the ISMS system.
SOC 2: One of the main differences between these methods is that the SOC does not require certification. These are audit services performed by the AICPA standards and consider assessment reports.
ISO 27001: The scope of delivery for ISO 27001 is a certificate with information about the ISMS score, scope of information security, date of issue and expiration of the certificate, etc.
SOC 2: For this method, the final deliverable is a report that includes a letter of opinion, a letter of confirmation, a system description with a description based on the critical components of the organization’s system to be reviewed, applicable trust service criteria, associated control activities, etc.
ISO 27001: Only a recognized and accredited ISO 27001 registrar can certify other organizations for ISO 27001 certification.
SOC 2: Only a certified and licensed CPA firm can conduct an SOC audit and issue a corresponding attestation. Sometimes companies get their SOC audits from Chartered Accountants, which is not the legal way to get an audit, and suffer a penalty as a result.
These are some key differences between SOC 2 certification and ISO 27001 certification.
As mentioned earlier in this blog, both SOC 2 certification and ISO 27001 certification are equally beneficial when it comes to information security.
Both offer remarkable security against data theft and bring additional benefits.
In the end you have to study and compare both methods and choose the one that suits your frame.
How Can under-controls Management System Help?
The under-controls Management System can help your organization decide between these two compliance techniques. You can use this process to map your business processes, examine your infrastructure and security practices, and identify and fix gaps or vulnerabilities.
So if your company is wondering which method to use, we’ll help you determine the right framework that can surely help you comply with industry standards. We can help your customers rest assured that you have the processes and practices in place to protect their data.
So what are you waiting for?
Contact the under-controls management system as soon as possible.