SOC 2 (Type I & Type II) Services

Matayo provides comprehensive SOC 2 (Type I & Type II) services to help organizations demonstrate their commitment to data security, availability, processing integrity, confidentiality, and privacy.

SOC 2 (Type I & Type II) Services: Ensuring Trust and Transparency in Data Security

Achieving SOC 2 compliance is essential for organizations that handle sensitive customer data and need to demonstrate their commitment to security, availability, processing integrity, confidentiality, and privacy. Matayo’s SOC 2 (Type I & Type II) Services provide comprehensive support to help you meet these rigorous standards and build trust with your clients and stakeholders.

What is SOC 2, Type II?

SOC 2 (Service Organization Control 2) Type II is a certification standard developed by the American Institute of CPAs (AICPA) to assess and report on the security, availability, processing integrity, confidentiality, and privacy of a service organization’s systems and data.

Key Features of SOC 2, Type II

Security

Ensures that the system is protected against unauthorized access, both physical and logical. Protects the integrity and confidentiality of the information stored and processed by the system.

Availability

Ensures that the system is available for operation and use as committed or agreed upon. Ensures that the system meets the performance and uptime standards agreed upon with clients.

Processing Integrity

Ensures that system processing is complete, valid, accurate, timely, and authorized. Ensures that data is processed in a reliable and efficient manner.

Confidentiality

Ensures that information designated as confidential is protected as committed or agreed upon. Protects sensitive information from unauthorized disclosure.

Privacy

Ensures that personal information is collected, used, retained, disclosed, and disposed of in conformity with the commitments in the entity’s privacy notice. Protects personal information according to privacy laws and regulations.

Type II Reporting

1. Duration of Assessment

SOC 2 Type II involves an assessment over a specified period, typically 6 to 12 months. This differs from SOC 2 Type I, which is a point-in-time assessment.

2. Comprehensive Evaluation

The Type II report provides a detailed evaluation of the organization’s control processes over the duration, including their effectiveness in practice, not just their design.

3. Audit Process

The audit is conducted by an independent third-party auditor who evaluates the controls and procedures to ensure they meet the SOC 2 criteria.

4. Report Contents

The report includes an opinion letter, management assertion, a detailed description of the system, tests of controls, and the results of those tests.

Importance of SOC 2, Type II

1. Customer Trust

Demonstrates to customers and stakeholders that the organization has implemented effective security controls and practices, fostering trust and confidence.

2. Competitive Advantage

Provides a market differentiator by showing a commitment to high standards of security and privacy, which can attract and retain customers.

3. Regulatory Compliance

Helps organizations meet various regulatory requirements and industry standards related to data protection and information security.

4. Risk Management

Identifies and mitigates risks associated with data handling, enhancing the organization’s overall security posture.

5. Operational Improvement

Encourages the implementation of best practices in security and data management, leading to more efficient and reliable operations.

Who Needs SOC 2, Type II?

1. Service Organizations

Cloud Service Providers: Companies offering cloud-based services, such as AWS, Azure, and Google Cloud, need SOC 2 Type II to assure customers of their data security and privacy.
SaaS Providers: Software as a Service (SaaS) companies handling sensitive customer data require SOC 2 Type II to demonstrate robust security measures.
Data Centers: Facilities providing data storage and management services need this certification to show their commitment to data protection.
Managed Service Providers (MSPs): MSPs offering IT services, including data hosting and management, benefit from SOC 2 Type II to validate their security controls.
Financial Service Providers: Companies in the finance sector, such as payment processors and fintech companies, need SOC 2 Type II to comply with industry standards and regulations.
Healthcare Providers: Organizations handling sensitive health data, like electronic health records (EHR) providers, require SOC 2 Type II to meet regulatory requirements and assure clients of data privacy and security.

2. Businesses Handling Sensitive Data

E-commerce Platforms: Online retailers managing customer data and transactions need SOC 2 Type II to ensure data security and build customer trust.
Marketing and Advertising Firms: Companies handling large volumes of customer data for targeted marketing benefit from SOC 2 Type II to demonstrate data security and compliance.
Legal Firms: Law firms managing confidential client information require SOC 2 Type II to ensure data protection and confidentiality.

Why is SOC 2, Type II Important?

Competitive Advantage

Companies with SOC 2 Type II certification stand out in the market, demonstrating their commitment to high security standards.

Regulatory Compliance

SOC 2 Type II helps organizations comply with various industry standards and regulations, such as GDPR, HIPAA, and CCPA.

Risk Management

SOC 2 Type II audit process helps identify potential vulnerabilities and risks within the organization’s systems.

Mitigating Risks

Implementing the recommended controls and practices mitigates identified risks, enhancing overall security posture. Operational Improvement.

Security Practices

The certification process encourages the implementation of best practices in data security and management. Efficient Operations.

Investor Confidence

SOC 2 Type II certification provides assurance to investors that the organization takes data security seriously.

SOC 2 Type 1 and Type 2 FAQs

What is SOC 2?

SOC 2 (Service Organization Control 2) is a framework for managing and protecting customer data based on five trust service criteria: security, availability, processing integrity, confidentiality, and privacy.

What is the difference between SOC 2 Type 1 and Type 2?

SOC 2 Type 1 assesses the design of an organization’s controls at a specific point in time, while SOC 2 Type 2 evaluates the operational effectiveness of those controls over a defined period, typically 6-12 months.

General SOC 2 FAQs

What is SOC 2?

SOC 2 (Service Organization Control 2) is a compliance framework developed by the AICPA to evaluate a service provider’s controls related to data security, privacy, and availability.

Who needs SOC 2 compliance?

Any company that handles customer data, especially SaaS providers, cloud service providers, and third-party vendors, may need SOC 2 compliance to assure clients of their security practices.

What are the five Trust Service Criteria (TSC) in SOC 2?

Security (mandatory), Availability, Processing Integrity, Confidentiality, and Privacy.

Is SOC 2 a legal requirement?

No, SOC 2 is not legally required, but many businesses require vendors to be SOC 2 compliant as part of their vendor risk management process.

Who conducts a SOC 2 audit?

A SOC 2 audit must be performed by an independent Certified Public Accountant (CPA) firm specializing in SOC reporting.

SOC 2 Type 1 FAQs

What is SOC 2 Type 1?

SOC 2 Type 1 assesses whether a company’s security controls are designed correctly and implemented at a specific point in time.

How long does a SOC 2 Type 1 audit take?

It typically takes 2–3 months, depending on the readiness of the organization.

What is included in a SOC 2 Type 1 report?

The report includes a description of the company’s security controls, a management assertion, and the auditor’s opinion on the effectiveness of control design.

What are the benefits of SOC 2 Type 1?

Demonstrates commitment to security, builds customer trust, and helps in early-stage security compliance efforts.

Can a company skip SOC 2 Type 1 and go directly to Type 2?

Yes, but most organizations first complete a Type 1 audit to validate control design before undergoing a Type 2 audit.

SOC 2 Type 2 FAQs

What is SOC 2 Type 2?

SOC 2 Type 2 assesses the operational effectiveness of security controls over a period of time (typically 6–12 months).

How long does it take to achieve SOC 2 Type 2?

The total timeline can be 6–12 months, depending on the monitoring period selected for the audit.

What does a SOC 2 Type 2 audit cover?

It covers the same controls as SOC 2 Type 1 but evaluates how well they function over time through testing and sampling.

How frequently should SOC 2 Type 2 audits be conducted?

Most companies undergo annual SOC 2 Type 2 audits to maintain compliance.

What are the benefits of SOC 2 Type 2 over Type 1?

Type 2 provides stronger assurance to customers since it verifies that security controls operate effectively over time.

Implementation & Compliance FAQs

What is the difference between SOC 2 and ISO 27001?

ISO 27001 is an international certification for Information Security Management Systems (ISMS), while SOC 2 is an audit report tailored for service providers in the U.S. market.

How do companies prepare for SOC 2 compliance?

By conducting a gap assessment, implementing security controls, training employees, and using security tools like SIEM, MFA, and endpoint protection.

What happens if a company fails a SOC 2 audit?

If gaps are identified, the company must remediate issues and can request a re-audit after improvements.

Is SOC 2 only for U.S. companies?

No, SOC 2 is used globally, but it is primarily recognized in North America.

Can SOC 2 reports be made public?

No, SOC 2 reports are confidential and are only shared with clients and stakeholders under NDA.

Security & Technical FAQs

Does SOC 2 require penetration testing?

While not explicitly required, penetration testing is recommended as part of the Security Trust Service Criteria.

What tools help with SOC 2 compliance?

Common tools include SIEM solutions (Splunk, Sumo Logic), endpoint security (CrowdStrike, SentinelOne), and compliance automation platforms (Drata, Vanta, Tugboat Logic).

What are common SOC 2 audit findings?

Lack of formal security policies, weak access controls, missing incident response plans, and failure to monitor third-party vendors.

Does SOC 2 require encryption?

Yes, data encryption for data at rest and in transit is a critical control under SOC 2 security requirements.

What is the cost of a SOC 2 audit?

The cost ranges from $20,000 to $100,000, depending on company size, complexity, and scope.