BillGO achieves SSAE 16 SOC 1 Type II compliance
Security is always a priority for BillGO, and because our founders hail from the world of banking security and payments processing, we know what it takes to keep your data safe and secure. With that in mind, BillGO has been working toward – and just completed – a SOC 1 Type II audit.
You should know that SOC audits are reports prepared in accordance with Statement on Standards for Attestation Engagements (SSAE) 16for the American Institute of CPAs. SSAE 16 is the standard for reporting on controls at service organizations, and is an overarching entity that the SOC reports fall under.
Back in December 2015, BillGO went through an SOC 1 Type I audit, which reports on the policies and procedures put in place by a service provider, evaluates the effectiveness of controls put in place as of a specific date and ensures that a company is financially sound. From there, we tracked operating performance from May to December 2016 – all to prepare for our Type II audit.
So, what is an SOC 1 Type II audit? SOC 1 Type II audits take the work done in a SOC 1 Type I audit, and take it a step further. In addition to the requirements of a Type I audit, Type II audits test and report on operating effectiveness for a specified period of time.