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

SOC 1 reports are specifically focussed on financial controls while SOC 2 reports are focussed on information security and other TSC’s like availability, privacy, confidentiality, and integrity. Both reports fall under the AICPA’s System and Organization Controls (SOC) framework but serve very different purposes.

SOC 3 is a lighter version of SOC 2. It covers the same criteria as SOC 2 but is designed for public distribution. While SOC 2 reports are detailed and confidential (shared only with customers or under NDA), SOC 3 reports are summarized, easy to understand, and can be posted on a company’s website.

How much do SOC 1 and SOC 2 cost?

The cost of getting SOC 1 and SOC 2 compliant varies on many factors, such as the scope, support needed, etc. However, typically using a compliance automation platform to get ready for SOC 1 audit will cost you anywhere from $7000 to $ 20000, and SOC 2 will cost you anywhere from $7000 to $50000 .

How long does it take to prepare SOC 1 report?

The amount of time it takes to achieve SOC 1 compliance depends on how well-prepared and resource-rich an Organisation is for the task. It can take between two and three months to complete a SOC 1 Type 1 and a readiness assessment the first time around.

How long does it take to prepare SOC 2 report?

The SOC 2 audit itself typically lasts 5 weeks to 3 months, and preparing for it can take just as much time. The time also depends on elements like the size of your audit and the quantity of the involved controls. However, getting a compliance automation tool such as Sprinto can cut down the time from months to days.

Which report do customers actually ask for?

SOC 2, by a significant margin. Enterprise security questionnaires default to asking for a SOC 2 Type 2 report. SOC 1 shows up in narrower contexts, public companies citing SOX, accounting firms, and banks. A practical check: scan the last twenty customer security questionnaires your sales team has received. If the questions reference the Trust Services Criteria, the prospects want SOC 2. If they reference internal controls over financial reporting (ICFR), they want SOC 1.

Can a single audit cover both SOC 1 and SOC 2?

Not as a single combined report. SOC 1 and SOC 2 have different AICPA standards and different scopes. But a CPA firm can run both audits in parallel, reuse shared evidence (access controls, change management, monitoring), and cut the combined cost by 20 to 30 percent compared to two sequential engagements. Worth the conversation with your auditor if both reports are on your roadmap, one after the other, within a year.

SOC 2 Archives

Blogs, SOC 1, SOC 2

SOC 1 vs SOC 2: Understanding the Key Differences

TL;DR Information security and compliance aren’t anymore just nice-to-have features. Thanks to the proliferation of cloud-hosted applications, SaaS businesses must now make additional efforts to inspire confidence and trust in how they manage and establish data security. SOC compliance, in this regard, makes for a nifty and industry-approved way to win customers’ trust. But which…

Blogs, SOC 2

SOC 2 Password Requirements for Compliance

TL;DR – SOC 2 does not prescribe password length or rotation; auditors assess CC6.1, CC6.2, and CC6.3 access controls.– Set a defensible baseline covering length, blocklists or complexity, password changes, failed login protection, and MFA.– Check enforcement across SSO, VPNs, cloud platforms, admin consoles, code repositories, endpoints, and shared accounts.– Keep evidence from system settings,…

Blogs, SOC 2

SOC 2 Readiness Assessment [A Quick Guide]

Any company applying for a compliance audit like SOC 2 needs to have a certain degree of confidence. Getting the entire organization aligned with stringent requirements can take months. Moreover, an endeavor like SOC 2 can be expensive. So it’s important that companies know that their prep work is good enough to get them a…

Blogs, Checklist, SOC 2

SOC 2 Compliance Checklist: A Step-by-Step Guide For 2026

TL;DRThe SOC 2 compliance process involves defining objectives, choosing the report type, conducting internal risk assessments, performing gap analysis, contacting an auditor, and more. Autonomous compliance reduces the need for repeated SOC 2 work by keeping controls, evidence, and ownership aligned as your environment changes. Using automation tools for SOC 2 compliance will save you…

Blogs, SOC 2

SOC Team Roles And Responsibilities: How To Structure A SOC Team For Success

Organizations face a constant barrage of cyber threats and newly discovered vulnerabilities every day. As technology infrastructures grow more complex, the burden of defending against these threats falls squarely on the shoulders of the Security Operations Center (SOC) team. For SOC teams, this constant stream of threats is part of everyday life. But with limited…

Blogs, SOC 2

HITRUST vs SOC 2 – Core Differences & Similarities

Information security is becoming a growing concern for cloud-hosted companies and the organizations are under constant pressure to meet the standard regulatory requirements. Understanding the differences between HITRUST vs SOC 2, although both HITRUST and SOC 2 compliance are industry-recognized certifications, will help cloud-hosted companies demonstrate privacy, security, and quality practices. TL;DR: The HITRUST certifications…