What You Need to Know About SOC 3 Reports

If your organization is looking for a way to showcase your commitment to security and compliance to the general public, a SOC 3 report might be the perfect solution. SOC 3 reports offer a high-level summary of your system and controls, tailored for sharing with a broad audience.

Unlike the more detailed and internal SOC 2 report, SOC 3 is designed for public distribution, making it an excellent strategy for building trust with current and future customers and stakeholders. As such, a SOC 3 report is often used as a valuable marketing tool to help accelerate your sales process in addition to offering assurance for general users that your organization prioritizes security.  

In this article, we’ll break down everything you need to know about SOC 3, including what it entails, how it differs from SOC 2, and how it can be beneficial for your business.  

What is SOC 3? 

A SOC 3 report is part of the System and Organization Controls (SOC) framework introduced by the American Institute of Certified Public Accountants (AICPA) to establish industry-recognized standards for alignment with the Trust Services Categories, which include security, availability, processing integrity, confidentiality, and privacy. 

A SOC 3 report, issued by a CPA firm, provides an independent assessment that allows organizations to publicly showcase their commitment to security and compliance. While it is based on the same rigorous evaluation as a SOC 2 report, a SOC 3 is designed for broader distribution, offering a general summary without disclosing sensitive details. This makes it an ideal tool for building customer confidence and demonstrating a strong security posture. 

The Difference Between SOC 3 and SOC 2 

While both reports exhibit that an organization has been assessed against the AICPA’s Trust Services Criteria, a SOC 2 report contains detailed descriptions of controls, testing procedures, and audit findings. Because this information could expose security and operational details, companies typically only share SOC 2 reports under NDA with customers, prospects, and partners who require deeper due diligence. 

A SOC 3 report, on the other hand, removes sensitive details while still demonstrating compliance and the scope of the review, making it ideal for public sharing on websites, marketing materials, and customer communications to build trust and transparency. 

The Benefits of Adding a SOC 3 Report 

Adding a SOC 3 report to your SOC 2 engagement is a perfect example of how Schellman helps transform cybersecurity assessments from a burden to a strategic advantage by providing a marketing asset that builds trust, differentiates your business, and accelerates sales cycles. 

Specifically, a SOC 3 report empowers your organization to: 

• Showcase Your Security Posture Publicly
  A SOC 2 proves your commitment to governance, but it’s often restricted to those under NDA and not available to the public. A SOC 3 lets you share that trust signal broadly on your website, in sales materials, and with potential customers who aren’t yet ready to request a more detailed SOC 2 report. 

• Leverage the Work You’ve Already Done
  Since your SOC 3 is based on the same audit as your SOC 2, there’s no extra assessment required, just a streamlined, public-facing report prepared for broader distribution at minimal additional cost. 

• Reduce Sales & Procurement Friction
  A SOC 3 can help speed up vendor assessments and procurement cycles, removing unnecessary barriers and making it easier for customers to move forward. 

• Stand Out from the Competition
  Many companies stop at SOC 2, keeping their security posture behind closed doors. A SOC 3 demonstrates transparency and leadership, helping you differentiate in a crowded marketplace. 

Contents of a SOC 3 

A SOC 3 report provides a high-level summary of the organization’s system and how it meets the Trust Services Criteria without disclosing detailed control testing.

The key components of a SOC 3 Report includes: 

1. System Overview

• Brief description of the organization’s services and the purpose of the system 
• General explanation of the boundaries and scope of the report

2. Principal Service Commitments (PSCs) & System Requirements 

• The security, availability, processing integrity, privacy and confidentiality promises made to customers 
• How these commitments are built into the system’s design, policies, and contracts/SLAs 

3. Key System Components 

• Infrastructure: Data centers, cloud providers, network security
• Software: Applications, platforms, and security tools
• People: Roles and responsibilities for security and compliance
• Data & Processes: How customer data is handled and protected

4. Security & Compliance Practices 

• Summary of controls in place (e.g., encryption, access controls, monitoring)
• Explanation of how these controls help meet PSCs and Trust Services Criteria requirements

5. Third-Party Dependencies 

• Overview of key vendors and service providers that impact security and compliance
• How their services align with the organization’s PSCs. 

A key item to note is that a SOC 3 report requires an existing SOC 2 as it is simply a broad summary of the SOC 2, without detailed testing results or control activities (Section 4). Since both reports follow the same guidelines and evaluation process, the SOC 3 relies entirely on the SOC 2 examination to ensure credibility.  

SOC 3 Deliverables 

The primary outcome of a SOC 3 examination is an Independent Practitioner’s Report, which consists of: 

1. Auditor’s Opinion – evaluates whether management's assertion is fairly stated that controls provided reasonable assurance in meeting service commitments and system requirements 
   
   
2. Management’s Assertion – regarding the system and controls 
   
   
3. Service Organization’s System Description – providing an overview that is less detailed than a SOC 2 report, making it suitable for public distribution 

Again, unlike SOC 2, a SOC 3 report is designed for public use, allowing organizations to confidently share their adherence with the Trust Services Categories – security, availability, processing integrity, confidentiality, and/or privacy. It provides independent validation of the organization’s security posture without disclosing sensitive details. 

How Schellman Can Help with your SOC 3 Report 

By choosing Schellman’s SOC 3 examination services, organizations gain access to a team of seasoned professionals who bring: 

• Deep technical expertise in compliance and cybersecurity assessments 
• A clear, structured approach to reporting, ensuring that your SOC 3 is both accurate and impactful 
• Unmatched clarity and guidance, helping your organization use SOC 3 as a strategic advantage 

If you’re ready to begin your SOC 3 Examination or you have any other questions about the process, contact us today and we’ll get back to you shortly.  

In the meantime, discover other helpful SOC insights in these additional resources:  

• Should You Get a SOC 2 or a SOC 3 Examination? 
• How to Maximize Efficiency Across Multiple Compliance Assessments 
• 5 Steps to Prepare for SOC 2 Examination Success