If so, you’re in a familiar position. They’re two of the most popular information security and risk management frameworks in the world, and each one has its benefits.
But what is the difference between SOC 2 and ISO 27001? Let’s look at which one is right for you by reviewing five key compliance aspects.
SOC 2 and ISO 27001 cover many of the same topics, with their security controls including processes, policies and technologies designed to protect sensitive information.
One study suggests that the two frameworks share 96% of the same security controls. The difference is which of those security controls you implement.
Both the ISO 27001 standard and SOC 2 state that organisations only need to adopt a control if it applies to them, but the way they approach this differs slightly.
ISO 27001 focuses on the development and maintenance of an (information security management system) ISMS, which is an overarching method of managing data protection practices.
To achieve compliance, you must conduct a risk assessment, identify and implement security controls and regularly review their effectiveness.
SOC 2, by contrast, is a lot more flexible. It comprises five Trust Services Principles: Security, Availability, Processing Integrity, Confidentiality and Privacy, but only the first of those is mandatory.
Organisations can implement internal controls related to the other principles if they want, but it’s not necessary to achieve certification.
Both frameworks are recognised globally, but SOC 2 is more closely associated with North America.
If you’re based in that region, you’ll find that both SOC 2 and ISO 27001 are common. Outside of North America, ISO 27001 is much more popular.
You must complete an external audit to certify to either framework.
The only difference in this process is who conducts the audit. A recognised ISO 27001-accredited certification body must complete ISO 27001 certification.
In contrast, an SOC 2 attestation report can only be performed by a licensed CPA (Certified Public Accountant).
There’s also a slight difference in what certification looks like. Organisations that pass the ISO 27001 audit receive a certificate of compliance, whereas SOC 2 compliance is documented with a formal attestation.
The certification process is similar for ISO 27001 and SOC 2, with three stages you must complete.
- You should conduct a gap analysis to determine which areas of the framework you’re already compliant with and where you need to make improvements. As part of this process, you should also define your security objectives and which areas of your organisation will be covered.
- Next, you should identify which security controls are appropriate for your organisation and take the necessary steps to implement them. This includes documenting your practices and establishing a method to review and improve your processes.
- The final step is the audit. Many organisations conduct an internal audit before contacting an accreditation body, as it allows them to address any final errors that they identify.
Once you’re confident in your compliance practices, you can contact a certification body and arrange an external audit.
How long this process will take depends on the amount of work you have to do to bring your practices up to scratch.
It should take about two or three months to implement SOC 2 and three to six months to implement ISO 27001.
Which framework should you use?
Hopefully, this blog has helped you decide whether your organisation is better suited to SOC 2 or ISO 27001. The former is easier and less expensive to implement and maintain, but it’s also less rigorous.
ISO 27001 involves more work, but it does more to protect organisations from information security threats.
Our experts are happy to discuss which option is right for your organisation.
We specialise in IT governance, risk management and compliance services, focusing on cyber resilience, data protection, cyber security and business continuity.
A version of this blog was originally published on 29 January 2019.