Accounting
FloQast Completes SOC 2 Type 1 Certification
SOC 2 certification gives customers of SaaS and other cloud and data center services companies assurance that an application or platform meets security, availability and confidentiality standards as defined by the American Institute of CPAs (AICPA).
Apr. 28, 2021
FloQast, a provider of accounting workflow automation software created by accountants for accountants, today announced it has successfully completed service organization control (SOC) 2 Type 1 certification. The new certification is in addition to the company’s SOC 1 Type 2 certification, which it has achieved annually since 2016.
SOC 2 certification gives customers of SaaS and other cloud and data center services companies assurance that an application or platform meets security, availability and confidentiality standards as defined by the American Institute of CPAs (AICPA). Type 1 certification is a confirmation of controls at a specific point in time, while Type 2 tests the effectiveness of controls over a period of time, typically six to 12 months.
“As a company of accountants, we have many CPAs who have spent years auditing other companies on their financial data security, so we understand and believe in the importance of it,” said Mike Whitmire, CPA*, CEO and co-founder of FloQast. “Achieving SOC 2 Type 1 certification also makes perfect business sense because it indicates to both existing and potential customers how seriously we take security.”
This certification provides assurances to a wide variety of businesses and organizations using the FloQast platform. Public users of third-party financial systems need to demonstrate to SOX auditors that those systems meet security standards, and SOC 2 certification accomplishes that easily. For other organizations, SOC 2 certification provides a level of internal due diligence that makes decision-making easier for vendor management teams and compliance departments because software vendors can provide SOC 2 reports.
In addition to its recent SOC 2 Type 1 certification, FloQast has a SOC 1 Type 2 renewal and a SOC 2 Type 2 audit scheduled for the fourth quarter of 2021. The company is planning for an ISO 27001 audit by the end of this year as well.
For more information on the FloQast platform and the security of its products, visit floqast.com/security.