The acronym SOC2 stands for System and Organization Controls 2. It is a set of compliance standards developed by the AICPA (American Institute of Certified Public Accountants) to ensure that service providers manage data securely to protect the interests of their clients. SOC2 focuses on five key trust service criteria: security, availability, processing integrity, confidentiality, and privacy. Organizations seeking SOC2 compliance undergo audits to verify their adherence to these principles, demonstrating their commitment to maintaining stringent internal controls and data protection practices, which is especially vital for service providers in cloud computing.