SOC2 is an acronym for Service Organization Control; it was developed and is maintained by the AICPA (American Institute of Certified Public Accountants). Specifically, SOC2 is a Report on the Processing of Transactions by Service Organizations where professional standards are set up for a service auditor that audits and assesses internal controls of a service organization. At the end of the audit, the service auditor issues an important report called the "Service Auditor’s Report".
Why have a SOC2 Report?
The Report shows that the Service Organization has been thoroughly checked and deemed to have satisfactory controls and safeguards either when hosting specific information or processing information such as data belonging to user organizations. Furthermore the Report provides;
