Lucasys Announces Completion of SOC 2 Type 2 Audit Certification
Lucasys is proud to announce an important compliance milestone in the completion of a SOC 2 Type 2 attestation for its software solutions. This security compliance measure is a testament to Lucasys’ continued commitment to protecting customer data as it emerges as a leading cloud provider for enterprise financial solutions.
Customers that rely on cloud-based solutions need to be confident that their data is being handled securely. The SOC 2 accreditation developed by the American Institute of Certified Public Accountants (AICPA) provides and external, objective audit to build confidence that service-providers like Lucasys are meeting and exceeding data security requirements.
Audits and Attestation
The SOC 2 accreditation is predicated on a third-party audit based on a methodical, rule-based examination. The audit collects and documents proof that the processes a company claims are in place are verifiably in place.
The term “attestation” is the report that the third-party prepares to verify that the audit took place and provided satisfactory results. It is a signed statement that the company’s processes are in working order.
For SOC 2 Type 2, an accredited third-party (a CPA firm accredited by the AICPA) performs an audit of a company’s internal controls and delivers a report called an attestation.
What is SOC 2?
The SOC 2 accreditation proves that a company is responsibly and securely storing customer data by auditing their internal system controls and attesting they meet critical standards. Controls must be:
Well-defined and documented
Suitably designed and implemented
Effectively operating over a period of time
The specific criteria examined for audit engagements are governed by the AICPA’s Trust Services Principles, which focus on security, confidentiality, availability, and processing integrity. These values serve as the foundation for any SOC 2 audit.
Why SOC 2?
Cloud-based software solutions have an obligation to securely store customer data. The SOC 2 accreditation is widely recognized as the gold-standard for data security and provides customers with the peace of mind that security controls are not only well-designed by are also adhered to.
SOC 2 Type 1 vs SOC 2 Type 2
Where a SOC 2 Type 1 audit validates security controls at a single point in time, SOC 2 Type 2 audits the performance of those controls over an extended period. After completing the initial audit engagement, Lucasys will be continually extending its program compliance audit period into the future. Continuing to operate in accordance with the established controls ensure that future SOC 2 Type 2 engagements will result in the same attestation.
Conclusion
Today’s corporate climate requires businesses to meet progressively complex security measures, and Lucasys will continue to strive to exceed industry standards. With its latest audit certification Lucasys has again demonstrated its commitment to the needs of its customers.
Lucasys is continuing to grow its product and development team to help customers build better business processes safely and efficiently. For a copy of Lucasys’ SOC 2 Type 2 report, please contact your Lucasys customer representative. To learn more about Lucasys solutions, please visit https://www.lucasys.com/solutions.