Asset Compliant Solutions (ACS), a provider of asset-based lending and lease finance solutions, completed a Service Organization Control (SOC) 2 Type 2 audit.
The SOC 2 report provides third-party assurance that a service organization’s information security practices meet AICPA Trust Services Criteria. While ACS’ previous SOC 2 Type 1 audit verified that the company had necessary processes and controls in place, the Type 2 examination went further by evaluating the effective operation of these controls over a sustained period.
“SOC-2 type 2 certification is an important next step in ACS’s ongoing commitment to provide our clients with industry-leading service and risk management,” Heather Garland, implementation manager at ACS, said.
By meeting the SOC 2 Type 2 requirements, ACS confirmed its information systems are secured through heightened surveillance, logging and controls, lessening risks and providing clients with independent verification of ACS’ security, availability, processing integrity, confidentiality and privacy standards.
“The SOC 2 Type 2 audit built on the systems and controls we established in year one, allowing us to test and refine controls for greater system visibility and management,” Greg Meyer, CFO of ACS, said. “Given the importance of data security to our clients and their customers, we’re better prepared than ever to meet the needs of the asset-based lending and lease finance industries.”
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