SOC 2 is an auditing procedure that ensures your service providers securely manage your data to protect the interests of your organization and the privacy of its clients. For security-conscious businesses, SOC 2 compliance is a minimal requirement when considering a SaaS provider.
Unlike PCI DSS, which has very rigid requirements, SOC 2 reports are unique to each organization. In line with specific business practices, each designs its own controls to comply with one or more of the trust principles.
Importance of SOC 2 Compliance
While SOC 2 compliance isn’t a requirement for SaaS and cloud computing vendors, its role in securing your data cannot be overstated. The American Institute of Certified Public Accountants (AICPA) developed SOC 2’s predecessor, SOC 1, to determine the effectiveness of service organization controls on financial reporting.
Companies undergo regular audits to ensure the requirements of each of the five trust principles are met and that they remain compliant. Compliance extends to all services, including web application security, DDoS Protection, and content delivery.
Trust Service Principles
Developed by the American Institute of CPAs (AICPA), SOC2 defines criteria for managing customer data based on five “trust service principles”—security, availability, processing integrity, confidentiality and privacy.