A SOC report is a document that provides an independent assessment of an organization's controls related to security, availability, processing integrity, confidentiality, or privacy. SOC stands for System and Organization Controls, and the reports are issued by certified public accounting firms following the guidelines of the American Institute of Certified Public Accountants (AICPA). There are three types of SOC reports: SOC 1, SOC 2, and SOC 3. SOC 1 reports focus on the internal controls of financial reporting, while SOC 2 and SOC 3 reports cover a broader range of controls related to security, availability, processing integrity, confidentiality, and privacy. A SOC report is important for a company because it provides an independent validation of the effectiveness of its controls and can help build trust and confidence with customers, partners, and other stakeholders. By obtaining a SOC report, companies can demonstrate their commitment to protecting sensitive information, ensuring the availability of critical systems, and maintaining the integrity of their processes.