Harmonizing Security Frameworks: The Similarities Between ISO 27001 and SOC 2

At Information Security Consultant (ISC), we specialize in assisting organisations with achieving compliance with both ISO 27001 and SOC 2. While these two frameworks differ in their origins and specific applications, they share several similarities that make them complementary tools for improving information security and building trust with stakeholders.

Below, we delve into the key similarities between ISO 27001 and SOC 2, their shared objectives, and how compliance with one can support the other.

What is ISO 27001?

ISO 27001 is an international standard for establishing, implementing, maintaining, and continually improving an Information Security Management System (ISMS). It provides a systematic approach to managing sensitive information, ensuring its confidentiality, integrity, and availability. ISO 27001 is widely recognized across industries and serves as a benchmark for organisations committed to robust information security practices.

What is SOC 2?

SOC 2 (Service Organization Control 2) is a compliance framework designed for service organisations to demonstrate their ability to securely manage customer data. It focuses on the Trust Service Criteria (TSC):

• Security
• Availability
• Processing Integrity
• Confidentiality
• Privacy

SOC 2 compliance is especially relevant for organisations providing cloud-based services, as it builds trust and confidence with clients by proving the organisation’s commitment to safeguarding data.

Key Similarities Between ISO 27001 and SOC 2

1. Focus on Information Security
   Both ISO 27001 and SOC 2 emphasize the protection of sensitive information. They require organizations to establish and implement controls to safeguard data from unauthorized access, breaches, and other security threats.

2. Risk-Based Approach

   • Both frameworks adopt a risk-based methodology to identify, assess, and mitigate risks.
   • Organisations must evaluate potential threats to their information systems and implement appropriate measures to address these risks.
   • This ensures that security efforts are tailored to the organisation’s specific challenges and vulnerabilities.

3. Implementation of Controls

   Both standards require organisations to establish and maintain a set of controls to protect information.

   • ISO 27001: Specifies 114 controls in Annex A, grouped into 14 categories, including access control, cryptography, and incident management.
   • SOC 2: Requires controls aligned with the Trust Service Criteria, such as encryption, system monitoring, and access management.

4. Continuous Monitoring and Improvement

   • Both frameworks emphasize the importance of ongoing monitoring and continuous improvement of security practices.
   • ISO 27001 requires organisations to review and update their ISMS regularly to adapt to evolving risks.
   • SOC 2 mandates continuous monitoring of controls to ensure they remain effective and aligned with business objectives.

5. Audit and Certification Process

   • Both frameworks involve a formal audit process to validate compliance.
   • ISO 27001: Certification is granted after an external audit conducted by an accredited certification body.
   • SOC 2: Compliance is verified through an independent audit by a licensed CPA firm, which issues a SOC 2 report.

6. Third-Party Assurance

   • Both ISO 27001 and SOC 2 provide third-party assurance to clients, stakeholders, and regulators, demonstrating that the organisation has implemented robust security measures.
   • This assurance builds trust and credibility, especially for organisations handling sensitive customer data.

7. Applicability Across Industries

   • Both frameworks are industry-agnostic and can be applied to organisations of all sizes and sectors.
   • They are particularly relevant for industries such as technology, SaaS, financial services, healthcare, and e-commerce, where data security is critical.

8. Alignment with Business Objectives

   • ISO 27001 and SOC 2 both emphasize aligning security controls and policies with the organisation’s business objectives.
   • This ensures that security measures not only protect data but also support operational goals and regulatory requirements.

How ISO 27001 and SOC 2 Complement Each Other

While ISO 27001 and SOC 2 are distinct frameworks, they share many overlapping objectives and controls. Achieving compliance with one can significantly support the process of complying with the other:

• For ISO 27001-Certified Organizations: Many of the controls required for ISO 27001 compliance, such as access management, encryption, and incident response, align with SOC 2 requirements.
• For SOC 2-Compliant Organizations: The controls implemented for SOC 2 compliance can be leveraged to meet ISO 27001 requirements, particularly those related to information security and risk management.

By pursuing both ISO 27001 and SOC 2, organisations can demonstrate a comprehensive approach to information security, enhancing their competitive advantage and building trust with clients.

Why Choose ISC for ISO 27001 and SOC 2 Compliance?

At ISC, we specialize in helping organisations navigate the complexities of ISO 27001 and SOC 2 compliance. Our expert team provides tailored solutions to simplify the compliance process and ensure your success. Our services include:

• Readiness Assessments: Evaluate your current compliance status and identify gaps.
• GAP Analysis: Highlight areas of non-compliance and provide actionable recommendations.
• Control Implementation: Assist with implementing controls aligned with both ISO 27001 and SOC 2 requirements.
• Internal Audits: Conduct thorough audits to prepare for certification or attestation.
• Certification Support: Guide you through the entire certification or attestation process.