FISMA
U.S. federal law mandating risk-based cybersecurity programs
SOC 2
AICPA framework for service organizations' trust services controls
Quick Verdict
FISMA mandates risk-based security for US federal agencies via NIST RMF, while SOC 2 voluntarily attests service organizations' controls via Trust Services Criteria. Agencies comply legally; SaaS firms adopt for enterprise trust and sales acceleration.
FISMA
Federal Information Security Modernization Act of 2014
Key Features
- Mandates NIST RMF 7-step risk management process
- Requires continuous monitoring and diagnostics
- Enforces FIPS 199 system impact categorization
- Demands annual independent IG assessments
- Mandates real-time major incident reporting
SOC 2
System and Organization Controls 2
Key Features
- Trust Services Criteria with mandatory Security (CC1-CC9)
- Type 2 audits prove operating effectiveness over 3-12 months
- Customizable scope for availability, confidentiality, privacy
- Independent CPA attestation builds enterprise trust
- Automation-friendly evidence collection via GRC tools
Detailed Analysis
A comprehensive look at the specific requirements, scope, and impact of each standard.
FISMA Details
What It Is
Federal Information Security Modernization Act (FISMA) of 2014 is a U.S. federal law establishing a risk-based framework for protecting federal information systems. It mandates agency-wide information security programs using NIST Risk Management Framework (RMF) for confidentiality, integrity, and availability.
Key Components
- NIST RMF 7 steps: Prepare, Categorize, Select, Implement, Assess, Authorize, Monitor.
- NIST SP 800-53 controls tailored by FIPS 199 impact levels.
- Continuous monitoring via ISCM and CDM.
- Annual IG evaluations with maturity models aligned to NIST CSF.
Why Organizations Use It
Federal agencies and contractors comply to meet legal obligations, avoid penalties like contract loss. It reduces risks, enables market access, builds resilience, and supports FedRAMP for cloud. Enhances trust and operational efficiency.
Implementation Overview
Phased RMF application: inventory, categorize, implement controls, assess, authorize via ATO, monitor continuously. Applies to agencies, contractors handling federal data; requires audits, POA&Ms. Scalable for large enterprises or smaller vendors. (178 words)
SOC 2 Details
What It Is
SOC 2 (System and Organization Controls 2) is a voluntary audit framework developed by the AICPA to evaluate service organizations' controls over customer data. It focuses on the Trust Services Criteria (TSC), emphasizing a control-based, risk-oriented approach for security and related principles.
Key Components
- Five TSCSecurity** (mandatory, CC1-CC9), Availability, Processing Integrity, Confidentiality, Privacy.
- Approximately 50-100 controls mapped to TSC, built on COSO principles.
- Type 1 (design at point-in-time) and Type 2 (operating effectiveness over 3-12 months) reports via independent CPA audits.
Why Organizations Use It
- Accelerates enterprise sales, reduces due diligence friction (80-90% questionnaire coverage).
- Builds stakeholder trust, mitigates breach risks, unlocks markets like SaaS/fintech.
- Strategic moat: ROI in 3-6 months via higher ACVs; overlaps with ISO 27001, HIPAA.
Implementation Overview
- Phased: Gap analysis (2-4 weeks), deployment (4-8 weeks), monitoring/audit (3-6 months).
- Targets SaaS/cloud providers; automation tools (Vanta) for all sizes.
- Annual CPA attestation required for ongoing compliance. (178 words)
Key Differences
| Aspect | FISMA | SOC 2 |
|---|---|---|
| Scope | Federal info systems security via NIST RMF | Service org controls via Trust Services Criteria |
| Industry | US federal agencies/contractors | SaaS/cloud/service organizations globally |
| Nature | Mandatory US federal law | Voluntary AICPA attestation |
| Testing | Continuous monitoring, IG annual assessments | CPA Type 1/2 audits annually |
| Penalties | Contract loss, debarment, IG directives | No legal penalties, market exclusion |
Scope
Industry
Nature
Testing
Penalties
Frequently Asked Questions
Common questions about FISMA and SOC 2
FISMA FAQ
SOC 2 FAQ
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