Risk Management of Third Parties’ Financial Controls and IT Security is Critical in Outsourced Service Era

October 13, 2023—San Francisco—Secureframe, the leading provider of security and privacy compliance automation software, today announced it has licensed content from the American Institute of CPAs (AICPA) related to System and Organizational Controls (SOC) services, widely recognized engagements for examining and reporting on organizations’ system processes and controls. Organizations using outsourced solutions have become increasingly aware of risk management and the importance of IT security at such organizations.

Secureframe empowers businesses to build trust by helping them achieve and maintain compliance with global information security standards. Secureframe leverages automation and AI to simplify the manual processes that companies endure through compliance certification, allowing them to focus on growing their business. By integrating with customers’ technology infrastructure, Secureframe automatically collects audit evidence, continuously monitors security hygiene, trains their employees on security awareness, and streamlines the experience with their auditor. As a result of these offerings, Secureframe customers are able to accelerate time-to-compliance by 5x, reduce their operational costs of maintaining compliance, while improving their overall security and compliance posture.

SOC services, which were created by the AICPA, come in three categories, SOC 1®, SOC 2®, and SOC 3®. A SOC 2 report is considered by many to be the gold standard for third party risk management, evidenced by an almost 50 percent increase in demand for SOC 2® engagements in recent years. The SOC 2® report gives customers and business partners of outsourced solution providers information about whether those organizations have adequate systems and controls in place to protect critical business information.  A SOC 2 examination can only be performed by an independent, licensed CPA firm against standards and criteria developed by the AICPA. The CPA’s opinion in the SOC 2 report enhances the confidence that users can place in that information. 

The success of SOC 2® engagements has led some companies in this space to make misleading promises about the scope, time, or fees involved. Licensees of authorized AICPA content in this area, on the other hand, agree to adhere to a higher standard in their marketing.  

“Our mission at Secureframe has always been to empower our customers with an all-in-one automation platform paired with expert insights to help them streamline security and privacy compliance and grow their business,” said founder and CEO Shrav Mehta. “We have licensed content from the AICPA related to SOC services to ensure we are providing them with the best technology and resources.”

For more information, please visit secureframe.com.

ABOUT SECUREFRAME:

Secureframe empowers businesses to build trust with customers by simplifying information security and compliance through AI and automation. Thousands of fast-growing businesses such as AngelList, Ramp, Remote, and Coda, trust Secureframe to expedite their compliance journey for global security and privacy standards such as SOC 2, ISO 27001, PCI DSS, HIPAA, GDPR, and more. Backed by top-tier investors and corporations such as Google, Kleiner Perkins, and Accomplice Ventures, the company is amongst the Forbes list of Top 100 Startup Employers for 2023 and Insider List of Most Promising AI Startups of 2023.