Is SOC 2 a Certification or Accreditation?

There seems to be a bit of confusion around SOC 2, with many organizations unsure whether it’s a certification or an accreditation.

To clarify, SOC 2 is neither a certification nor an accreditation. Instead, it is an attestation issued by a licensed CPA firm following an independent audit. 

Unlike formal certifications that come with official seals or governing body oversight, a SOC 2 report verifies that an organization’s security controls align with the Trust Services Criteria (TSC). The audit results in either a SOC 2 Type I or Type II report, which demonstrates compliance but does not grant an official certification.

Keep reading to learn everything you need to know about SOC 2 and how it applies to your organization.

Key Takeaways

• SOC 2 is an attestation, not a certification or accreditation.
• A licensed CPA firm evaluates security controls and issues a SOC 2 report.
• Many SaaS, cloud, and service-based businesses require SOC 2 compliance.
• Partnering with a compliance provider simplifies the process and ensures efficiency.

Table of Contents:

• What is SOC 2?
  
  

• Types of SOC 2 Reports

• SOC 2 Attestation vs. Certification vs. Accreditation

• The Benefits of SOC 2 Compliance for Your Organization

• How Does the SOC 2 Process Work?

• SOC 2 Compliance Checklist

• Final Thoughts: What Is the Best Approach to SOC 2 Compliance?

What Is SOC 2?

SOC 2 is an attestation framework developed by the AICPA to assess a service organization’s security and data handling controls. 

Unlike a certification or accreditation, it provides a report evaluating compliance with the Trust Services Criteria (TSC): security, availability, processing integrity, confidentiality, and privacy.

To achieve SOC 2 compliance, your organization must undergo an independent audit by a licensed CPA firm, which assesses the effectiveness of its controls.

Types of SOC 2 Reports

There are two major types of SOC 2 reports: Type 1 and Type 2. Type 1 evaluates whether controls are properly designed at a single point in time, making it useful for companies starting their SOC 2 journey.

Type 2 assesses how effectively those controls operate over time (typically 6 to 12 months), providing stronger assurance to clients and stakeholders. Most organizations pursue Type 2 to demonstrate ongoing compliance and security reliability.

SOC 2 Attestation vs. Certification vs. Accreditation

A common misconception is that SOC 2 is a certification when, in reality, it is an attestation.

Certification involves an accredited body evaluating an organization against a defined standard. 

For example, ISO 27001 certification requires an auditor to confirm that security controls meet specific international benchmarks. A certificate is then issued, typically valid for a set period.

Accreditation is a step further, where an organization or auditor is formally recognized as meeting specific competency standards. For example, an auditing firm can be accredited to issue certifications, but companies do not receive accreditation for meeting SOC 2 standards.

Attestation, like SOC 2, is an independent evaluation where a licensed CPA firm assesses an organization’s security controls and provides an opinion on their effectiveness. Instead of certification, your organization receives a SOC 2 report that outlines how well your controls align with the Trust Services Criteria (TSC).

So, is SOC 2 a certification? The answer is no; SOC 2 is not a certification but rather an attestation. 

The Benefits of SOC 2 Compliance for Your Organization

Pursuing SOC 2 compliance offers numerous benefits for your organization, beyond just meeting client requirements, as listed below.

• Strengthens security by identifying and addressing control gaps
• Provides a structured framework for data protection and access management
• Enhances system monitoring to detect and mitigate threats
• Builds trust with clients, partners, and stakeholders
• Gives your business a competitive edge in the marketplace
• Simplifies vendor risk assessments and third-party security evaluations
• Reduces the need for repetitive security questionnaires and audits
• Speeds up sales cycles by providing a verified security report
  
  

How Does the SOC 2 Process Work?

The SOC 2 process starts by defining the audit scope and selecting the relevant Trust Services Criteria (TSCs). Your organization will conduct a gap analysis, implement necessary controls, and gather evidence to demonstrate compliance. A CPA firm then audits your systems, assesses control effectiveness, and issues an attestation report. 

Is SOC 2 Required for My Business?

Various businesses may need SOC 2 compliance, especially those handling sensitive data or providing cloud-based services. While not legally required, many clients expect it as a security standard. SOC 2 compliance helps demonstrate a strong commitment to data protection and builds trust with customers. Businesses that commonly require SOC 2 include:

• SaaS providers
• Cloud computing companies
• Managed service providers (MSPs)
• IT security firms
• Data analytics companies
• Financial technology (FinTech) firms
• Healthcare technology (HealthTech) providers
• Legal and accounting firms handling sensitive client data
• HR and payroll service providers
• Any business storing, processing, or transmitting client data in the cloud

BEMO can help your business with SOC 2 compliance through implementing necessary controls, conducting gap analysis, and helping to streamline processes.

SOC 2 Compliance Checklist

Achieving SOC 2 compliance requires careful planning and execution. Follow this checklist to stay on track:

• Assess Your Readiness: Identify relevant Trust Services Criteria (TSCs) and conduct a gap analysis to find security weaknesses.
• Implement Controls: Update policies, apply security measures, and document evidence for auditors.
• Select an Auditor: Choose a CPA firm experienced in SOC 2 audits and define the audit scope.
• Undergo the Audit: Provide documentation, undergo evaluations, and address any gaps found.
• Maintain Compliance: Continuously monitor security controls, conduct internal assessments, and prepare for annual audits.
  
  

Final Thoughts: What Is the Best Approach to SOC 2 Compliance?

Achieving SOC 2 compliance can be complex, but partnering with a trusted compliance provider simplifies the process. 

A knowledgeable partner guides you through scoping, gap analysis, control implementation, and audit preparation, ensuring efficiency and accuracy. They help configure security controls, optimize compliance efforts, and avoid common pitfalls.

Choosing an experienced provider like BEMO speeds up compliance, strengthens security, and demonstrates your commitment to protecting client data.

Simplify SOC 2 Compliance with BEMO

Frequently Asked Questions

How Long Does It Take to Get SOC 2 Compliance?

Typically 3 to 12 months, depending on audit type and readiness.

Do Clients Require SOC 2 Reports for Vendor Selection?

Many do, especially in industries handling sensitive customer data.

Can a Business Fail a SOC 2 Audit?

Yes, if controls are ineffective or do not meet requirements.