SOC 1 Type 1 vs SOC 1 Type 2: What's the Difference?

You know you need a SOC 1 audit report, but do you need a SOC 1 Type I or a SOC 1 Type II? What's the difference? Which one makes the most sense for your organization?

Read more to understand the importance of a SOC 1 audit report and the differences between a Type I and a Type II audit report.

What is a SOC 1 Audit?

A SOC 1 audit, or Service Organization Control 1 engagement, is an audit of internal controls at a service organization that may affect their clients’ internal control over financial reporting. A SOC 1 audit report provides user entities with reasonable assurance and the peace of mind that the controls at a service organization are operating effectively and appropriately protecting client data. There are two types of SOC 1 audit reports – SOC 1 Type I and a SOC 1 Type II.

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KirkpatrickPrice is a licensed CPA firm, PCI QSA, and a HITRUST CSF Assessor, registered with the PCAOB, providing assurance services to clients in more than 48 states, Canada, Asia, and Europe. The firm has over a decade of experience in information security and compliance assurance by performing assessments, audits, and tests that strengthen information security and internal controls. KirkpatrickPrice most commonly provides advice on SOC 1, SOC 2, HIPAA, HITRUST CSF, PCI DSS, GDPR, ISO 27001, FISMA, and CFPB frameworks.