For the security requirements of your business, are you finding it difficult to decide between ISO 27001 and SOC 2? Though they do things differently, these two systems have 96% of the same security mechanisms.
The main variations between ISO 27001 and SOC 2 will be broken down in this paper so that you may decide with knowledge. Prepare to up your security level.
Foundations of ISO 27001 and SOC 2
Key frameworks for controlling information security include ISO 27001 and SOC 2. They enable companies to create consumer and partner trust and safeguard data.
Range and market relevance
ISO 27001 and SOC 2 operate in various markets and scope. Globally respected ISO 27001 is perfect for multinational companies. It addresses several facets of information security.
Although somewhat common in the USA, SOC 2 is becoming more and more popular in Europe. It pays attention to service providers and gives freedom in selecting certain Trust Services Criteria.
Both criteria provide security management and compliance competitive advantages. Many times, companies seek both certifications to improve their security systems. This combined strategy might help a company to satisfy many market needs and legal obligations.
Project schedule and certifying procedure
The certification procedure for SOC 2 and ISO 27001 consists of three main phases. Every framework has its unique schedule and particular application guidelines.
- Analysis of Gaps:
Companies evaluate their present security policies about the guidelines of the framework.
This stage points out areas needing fresh controls or improvement.
- Usually taking one to two months, this is for ISO 27001.
Usually, SOC 2 gap analysis takes two to four weeks.
- Application of security controls:
- Companies grow and install required security systems.
- This level comprises technological controls, rules, and processes.
- Usually, implementation of ISO 27001 takes two to four months.
- Usually, SOC 2 control installation takes one to two months.
- Audit and Certificate:
An outside auditor looks into the security procedures of the company.
Accredited certification bodies handle ISO 27001 audits.
Certified CPAs licensed to conduct SOC 2 audits.
- The ISO 27001 audit takes around one month.
Generally speaking, SOC 2 audits last two to four weeks.
- Constant Repair:
ISO 27001 calls for yearly internal audits and control assessments.
Every three years, ISO 27001 recertification takes place.
- Every year are SOC 2 tests carried out.
- Both systems necessitate ongoing security practice improvement.
- Differences in Project Timelines:
- Usually, ISO 27001 certification takes three to six months total.
Usually, SOC 2 deployment calls for two to three months.
- ISO 27001’s extended calendar reflects its greater all-encompassing reach.
Knowing these certifying procedures helps companies properly coordinate their security projects. Let’s more closely investigate the main variations between ISO 27001 and SOC 2.
Main Variations between SOC 2 and ISO 27001
The approach to information security differs between ISO 27001 and SOC 2. Whereas SOC 2 addresses certain controls for service providers, ISO 27001 emphasizes a comprehensive management system.
Focus on an all-encompassing strategy against service provider limitations
Information security approaches employed by ISO 27001 and SOC 2 vary. ISO 27001 emphasizes a complete Information Security Management System (ISMS). It forces companies to apply controls based on a Statement of Applicability.
Conversely, SOC 2 aims at service providers and their particular controls.
ISO 27001 guarantees companies follow policies and keep performance under constant improvement.
Unlike the method of ISO 27001, SOC 2 provides greater freedom in application. It lets service firms choose relevant Trust Services Criteria. SOC 2 Type 2 reports are useful for showing customers’ and partners’ cybersecurity policies as they allow this adaptability.
Cost and certifying agencies
Turning now from the emphasis on methods, let’s look at the financial sides and certification agencies for ISO 27001 and SOC 2.
Audits for ISO 27001 certification cost more than those for SOC 2 report certification. For ISO 27001 certification, firms should budget $10,000 to $50,000. Type 2 audits cost $30,000 to $60,000; Type 1 audits run from $10,000 to $20,000.
Valid for three years with annual assessments, accredited registrars provide ISO 27001 certifications. Licensed CPA companies do SOC 2 audits, for which Type 2 reports call for yearly renewals.
The decision of a corporation between ISO 27001 and SOC 2 for their information security management systems depends on these variations in certification bodies and expenses.
Which Framework Would You Want?
Your company’s requirements and objectives will determine which of ISO 27001 and SOC 2 best fit. Think through your target market, customer needs, and particular security measures you must use.
Variables to take into account
Selecting between ISO 27001 and SOC 2 calls for much thought. Many elements may affect your choice:
- Market applicability: ISO 27001 is perfect for multinational companies as it is well known. North America and service providers both have SOC 2 more often occurring.
ISO 27001’s scope of evaluation is on building a thorough information security management system. SOC 2 lets companies choose certain Trust Services Criteria to apply.
- ISO 27001 audits have to be carried out by certified certification organizations. SOC 2 reports call for licensed Certified Public Accountants (CPAs).
- Project schedule: ISO 27001 certification usually requires more time because of its all-encompassing nature. Especially if one is concentrating on a few criteria, SOC 2 may be speedier.
- Cost factors: Although ISO 27001 may save a long time, its initial expenses are often higher. Though initially less costly, SOC 2 may need continuous audits.
Regular risk assessments are mandated by ISO 27001 as a method of risk management. SOC 2 gives certain controls for service providers more of her attention.
- Flexibility: SOC 2 gives additional choices for which criterion to use. ISO 27001 approaches more methodically.
- Compatibility with other frameworks: About 96% of the security measures of ISO 27001 and SOC 2 coincide. They may also coincide with other guidelines such as NIST models.
- Data protection needs: ISO 27001 offers a robust basis for adherence to laws like GDPR. For service companies, SOC 2 emphasizes data security more heavily.
- Internal control focus: SOC 2 gives internal controls particular to service providers more importance. Information security management is approached holistically in ISO 27001.
Advantages and disadvantages of every
Every framework has unique benefits and drawbacks. Allow us to investigate them using a basic table structure.
| Framework | Benefits | Drawbacks |
| ISO 27001 | – Global recognition
– Comprehensive approach – Demonstrates best practices – Formal certification |
– Higher costs
– Longer implementation time – Extensive documentation needed – Rigid structure |
| SOC 2 | – Flexibility in criteria selection
– Lower costs – Focused on service providers – Easier to implement |
– Limited to North America
– No formal certification – Less comprehensive – Attestation report only |
Data security is provided universally by ISO 27001. It shows the dedication of a corporation to the highest standards. The framework calls for plenty of paperwork and compliance actions. Longer implementation periods and more expenses follow from this.
SOC 2 offers additional freedom. Businesses choose criteria depending on their need. Usually speaking, it is less costly than ISO 27001. The approach emphasizes controls by service providers. Attestation reports rather than certifications come from SOC 2.
At last
Your company’s requirements will determine whether of ISO 27001 or SOC 2 best fits you. Both requirements increase customer confidence and information security. While SOC 2 works well for North American markets, ISO 27001 provides a worldwide advantage.
Growing companies frequently begin with SOC 2 and work their way to ISO 27001. Whatever the approach, these models improve cybersecurity posture and help guard private information.