ISO 27001 VS SOC 2: What are the key differences?

The main difference you need to prove for ISO 27001 is that you have the Operational Information Security Management System (ISM) to handle your infoSec program on a regular basis. On the other hand, SOC-2 focuses on proving that you have implemented security controls that protect users’ data.

ISO/IEC 27001:2013

ISO 27001, at some point, review the entire design and operating effect of an organization. It involves an extensive audit of 7 critical requirements with 114 suggested controls. This certification is against a framework.

• This certification is more popular and well-reputed in the USA and also internationally.
• Its framework is under strict control, which states it applies to all sizes of organizations. In fact, you can say that it is challenging in terms of time and money for a young to fit within.
• Successful implementation of it can take anywhere from nine months to three years.
• It is feasible to audit itself instead of Cert confirmation, which some users can accept.
• Your organization can demand establishing an Information Security Management System (ISMS). It is a program to develop, implement, maintain and improve information protection methods.
• ISMS program design requires the testation then you’ll receive a certification letter.

SOC 2 (Type 1 or Type 2)

The SOC2 offers flexibility for organizations that want to upgrade their security compliance. Out of the five trust services standards, security is the only essential category. Organizations can decide what quality (in addition to security) to focus on preparing their program and audit.

• It has more demand in the USA and is increasing day by day in Europe.
• You can choose controls you want to test – it enables the audit more for an organization that is still strengthening its safety work. For this reason, it is easier to get, especially for underage companies.
• It also serves as non-security control that works to build trust with your users.
• You can get a SOC 2 Type 1 document within 45 days.
• It provides access to the auditor’s opinion about crucial sectors of the organization, such as corporate governance and vendor management.
• After getting SOC Type 1, Your SOC 2 auditor will take a test on both the design and issue with Type 2. 

Difference between ISO 27001 vs SOC 2 Certification 

The main difference is that ISO 27001 accredited registrar certifies ISO 27001, whereas SOC 2 attests through a licensed CPA firm. You have to complete an external audit of any framework verification.

The difference lies only in the auditor who conducts. A certification body approved by a recognized ISO 27001 should complete the ISO 27001 certification. On the other hand, an SOC 2 attestation report requires a licensed CPA (Certified Public Accountant).

It looks like a certification; there is a slight difference. ISO 27001 Audit Passing organizations receive a compliance certificate, while compliance with SOC2 only receives a documentary.

ISO 27001 vs SOC 2 Cost

Although pricing varies widely throughout the industry and depends on the scope of your certification project, ISO 27001 usually costs 50 % to -60 % more than SOC 2. The reason is that you have ISMS because of the additional burden of the documents required by the auditors.

One of the benefits of using a security assurance platform is that it dramatically reduces the cost of making documents with our previous policies and controls those maps in both ISO 27001 and SOC. It also reduces the time required by the auditor to complete the audit.

ISO 27001 vs SOC 2 Market applicability

SOC 2 can apply to any industry on technology-based service organization, while the ISO 27001 design uses by any size or industry organization.

Both frameworks are recognized worldwide, but SOC 2 is associated with the USA. If you’re living in the US, you’ll find that both SOC 2 and ISO 27001 are standard. Outside the USA, ISO 27001 is very popular.

ISO 27001 vs SOC 2 renewals

There are some distinct differences in the renewal of certificates. ISO 27001, most engagements include a three-year commitment, where you have once audited yearly and then renewed every year.  

But, one point in SOC2 is the different conditions of the time; most businesses demand Type 1 reports with type 2 reports, under which you need to show the effectiveness of your security controls in only twelve months. Once completed, SOC 2 Type 2 needs renovation annually.

Final thoughts;

There are differences between two security certifications of SOC 2 and ISO 27001 in terms of cost, market applicability, certification etc.