soc 2 type 1 vs type 2
While both SOC 2 Type 1 and Type 2 reports evaluate the effectiveness of a company’s controls related to security, availability, processing integrity, confidentiality, and privacy, there are some key differences between the two.
A Type 1 report assesses the design and operation of controls at a specific point in time, while a Type 2 report evaluates the effectiveness of controls over a period of time, typically at least six months.
Additionally, a Type 2 report includes an independent auditor’s opinion on the effectiveness of the controls in meeting their objectives, while a Type 1 report does not include an auditor’s opinion.
Ultimately, a Type 2 report provides more assurance to customers and stakeholders, as it demonstrates that the controls have been effectively implemented and operating successfully over a period of time.
It is important to note that while SOC 2 Type 1 and Type 2 reports are commonly requested by customers and partners, they are not required by law. Companies should carefully consider their specific needs and the expectations of their customers before deciding which type of report to pursue.
Learn more about SOC 2 Type 1 vs Type 2 from Trustnet.