SOC 2 definition

SOC 2 means the AICPA System and Organizational Controls for Service Organizations – SOC 2: Reporting on an Examination of Controls at a Service Organization Relevant to Security, Availability, Processing Integrity, Confidentiality, or Privacy audit, as amended or superseded or replaced from time to time, or other modified or replacement or successor report.

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SOC 2 means an audit that provides an opinion about controls at the service organization related to security, availability, processing integrity, confidentiality, or privacy to support users’ evaluations of their own system of internal control.

SOC 2 means service organization control 2.

Examples of SOC 2 in a sentence

Securitize shall, at least annually, undertake at its expense, an audit in accordance with a System and Organization Controls 2 (SOC 2) Type 2 audit, or an ISO 27001:2022 certification, (or successor standards to either one) covering controls related to its provision of Services, the scope of which shall be in accordance with Industry Standard practice.
Upon request, Securitize shall provide a copy of its SOC 2 report, or its ISO 27001 certificate with accompanying Statement of Applicability (SoA) for the Fund’s review.
If Securitize provides the service organization report i.e., a SOC 2 Type 2 audit report (without material findings or exceptions) for its third-party Data Center or IaaS provider to the Fund, then Securitize shall be deemed to be compliant with the foregoing.
To the extent Provider obtains a SOC-2 report after previously only obtaining a SOC 1 report, Provider will provide BFA with its updated SOC 2 results.

More Definitions of SOC 2

SOC 2 means the reporting of non-financial business controls as they relate to security, availability, processing integrity, confidentiality, and privacy of a system.

SOC 2 has the meaning set forth in Section 8.7(a).

SOC 2 means a Service Organization Control 2 audit report which documents the audit of an entity’s internal IT controls relevant to the security, availability, processing integrity; confidentiality and/or privacy.

SOC 2 means defined criteria for managing customer data based on five “trust service principles”—security, availability, processing integrity, confidentiality and privacy “SOC3” is a simplified version of SOC2 report;

SOC 2 means the SOC for Service Organizations: Trust Services Criteria issued and maintained by the American Institute of Certiﬁed Public Accountants.