Why it matters
A SOC 2 report gives a buyer evidence that a vendor has controls and that an independent firm reviewed them. It is not a guarantee, and a Type I report covers a point in time while a Type II covers a period.
Example
A firm considering a document collection vendor asks for the vendor's SOC 2 Type II report and reads the scope, the period and the exceptions before signing.
Related terms
Questions about SOC 2
What is the difference between SOC 2 Type I and Type II?
A Type I report describes the controls at a point in time. A Type II report describes the controls and tests whether they operated effectively over a period.