For starters, SOC stands for “system and organization controls.” Those controls are a series of standards designed to help measure how well a service organization conducts and regulates its information.

SOC reports are produced in accordance with standards established by the American Institute of Certified Public Accountants (AICPA) and are designed to help organizations evaluate and communicate their internal controls related to financial reporting, as well as controls over the security, availability, processing integrity, confidentiality, and privacy of information and systems.