System and Organization Controls 2
AICPA SOC 2
Framework for managing and protecting data, especially for service providers.
Scope:
Global
Effective date:
Continuous compliance
Who does it apply to?
Service organizations handling client data.
Examples:
A cloud provider ensuring data protection for clients.
Impact:
Improved client trust, marketability.
Risk of non-compliance:
Risk of losing client trust, financial consequences.
Fines:
Varies based on the level of non-compliance.
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