Your glossary for risk and compliance
Helpful definitions of all of the terms you need to know to better manage risk and compliance.
TermsAFSL Authorised Representative AICPA Annex A Controls ASIC Attestation of Compliance (AOC) Business Continuity Management Compliance Automation Software Compliance Risk Management Cybersecurity Maturity Model Certification (CMMC) FedRAMP Governance Risk & Compliance (GRC) GPDR HIPAA HITRUST Incident Management Information Security Management System (ISMS) ISMS Governing Body ISO 27001 Notifiable Data Breach OAIC Policy Management SOC 1 SOC 2 SOC 3 SOC Reports SOC Trust Services Criteria (TSC) SSAE 16 SSAE 18 Third Party Risk Management Vendor Assessment Vendor Management Policy Vendor Review Vulnerability Vulnerability Management
What is SOC 3?
You can think of a SOC 3 report as a redacted SOC 2 report; the SOC 3 report summarizes the material of a SOC 2 report, but it excludes details of the testing that was performed and those tests' results. A SOC 2 report must have been written to receive a SOC 3 report.
SOC 3 reports can be posted on your website, while SOC 2 reports can only be shared with an NDA.