Information security management is one of the most critical issues faced by companies today. We are surrounded by risks and see news about companies getting compromised almost on a daily basis. ISO 27001 is an international standard for information security management. It focuses on the creation and overall effectiveness of an Information Security Management System (ISMS). Within the ISMS, it guides companies through the process of identifying risks, implementing controls to manage the risks down to an acceptable level, and firmly establish a process for continuous improvement.
Applicable to Any Company
ISO 27001 compliance is applicable to any company wanting to have a strong information security posture. Companies doing business abroad or with international customers may be required to pursue compliance.
What SOC 2 is to US based companies, ISO 27001 is to European entities. There is a tremendous overlap between the two frameworks. Practical Assurance works with companies who are seeking to comply with both standards in the most effective way possible.
How does ISO 27001 compare to SOC 2?
There is roughly 70-80% overlap between the SOC 2 and ISO 27001 standards. The key difference is focus and final outcome. SOC 2 focus on the controls themselves and their design and operating effectiveness. ISO 27001 focus more of the overall effectiveness of how information security is managed than the individual controls themselves. SOC 2 can be done in months and results in a descriptive report. ISO 27001 takes years and results in a certificate of certification.