Are SOC 2 Reports Sufficient for Vendor Risk Management?

This advisory argues that while SOC 2 reports are a useful signal of a vendor's security posture, they are time‑bound and scoped documents that should not be the sole basis for vendor risk decisions; organizations should combine SOC 2 reviews with tailored questionnaires, independent testing, security rating services, contractual requirements, and continuous monitoring to mitigate third‑party cyber risk.