ISO 27001 vs SOC 2: What EU Buyers Actually Request
Understanding the differences between ISO 27001 and SOC 2 is crucial for doing business in the EU. Find out which standard is most important.
When doing business in the European Union, data security is paramount. Two common standards that come up in conversations are ISO 27001 and SOC 2. Understanding the differences between them is crucial for meeting customer requirements and ensuring the security of your business.
What is ISO 27001?
ISO 27001 is an international standard for an Information Security Management System (ISMS). It specifies the requirements for establishing, implementing, maintaining, and continually improving an ISMS. It focuses on processes and policies that ensure information security.
- International standard.
- Process and policy-oriented.
- Provides a framework for managing information security.
- Certification: Proof of compliance with the standard.
What is SOC 2?
SOC 2 (Service Organization Control 2) is an audit report based on the Trust Services Criteria – security, availability, processing integrity, confidentiality, and privacy. It was developed by the American Institute of Certified Public Accountants (AICPA) and is more common in the United States.
- Audit report.
- Based on Trust Services Criteria.
- Focuses on controls and procedures.
- Type I and Type II: Different scopes of the audit.
What Do EU Buyers Actually Request?
In the European Union, ISO 27001 is typically a more common requirement than SOC 2. This is because ISO 27001 is an internationally recognized standard that aligns with European data protection legislation, such as the GDPR. While SOC 2 is not useless, ISO 27001 provides a broader and more holistic framework for information security that is better suited to the needs of European businesses. FusionLot can help you achieve ISO 27001 certification.