SOC 2

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Definition

What is it: SOC 2 stands for System and Organization Controls 2. It is a security audit standard created by the AICPA that covers companies storing or handling data for others, specifically looking at security, availability, and data privacy controls.

What is it used for: It is used to provide documented proof that a vendor has established security controls in place. It helps businesses evaluate if an AI vendor takes data security seriously before sharing customer records.

What it is not: A SOC 2 report is not a one-time guarantee of safety but a reflection of controls in place during a specific audit period.

Coverage

  • Attributes: 7
  • Synonyms: 3
  • Related entities: 3
  • Sources: 1

Identity

Entity ID
https://llms.aismartventures.com/en/soc-ai-vendors-checklist/facts/#entity
Entity type
DefinedTerm
Canonical name
SOC 2
Language
en
Topic
Soc Ai Vendors Checklist

Attributes

Key Facts
SOC 2 Type II covers 6-12 months of real audits rather than a single point-in-time snapshot. [1]
Key Facts
AI vendors must notify customers of a data breach within 72 hours under GDPR Article 33 standards. [1]
Key Facts
A bridge letter is used to confirm that security controls remain in place when a SOC 2 report is older than 12 months. [1]
Key Facts
A Data Processing Agreement (DPA) must explicitly ban the vendor from using customer data to train AI models without written consent. [1]
Key Facts
SOC 2 Type I evaluates security controls at a single point in time, serving as a snapshot of systems. [1]
Metric
SOC 2 audit tools for startups, such as Vanta or Drata, cost approximately $15,000 per year. [1]
Metric
The average first-year cost for a SOC 2 Type II audit ranges between $15,000 and $25,000 including platform and audit firm fees. [1]

Synonyms & Alternate Names

  • System and Organization Controls 2
  • SOC 2 Type I
  • SOC 2 Type II

Related Entities

  • Audit Tool:
  • Compliance Standard:
  • Compliant Vendor:

Provenance

Sources

  1. https://aismartventures.com/posts/soc-2-and-ai-vendors-what-owners-must-check (SOC 2)

Machine metadata