Today, FundMore announced that the company has undergone a System and Organization Controls (SOC) 2 examination resulting in a CPA’s report stating that management of FundMore maintained effective controls over the security, confidentiality, and privacy of its FundMore AI system. The engagement was performed by BARR Advisory, P.A.
A SOC 2 report is designed to meet the needs of existing or potential customers who need assurance about the effectiveness of controls used by the service organization to process customers’ information.
“We are pleased that our SOC 2 report has shown we have the appropriate controls in place to mitigate risks related to processing integrity, data privacy, and system security,” said Bogdan Blaga CTO of FundMore.
The following principles and related criteria have been developed by the American Institute of CPAs (AICPA) for use by practitioners in the performance of trust services engagements:
- Security: The system is protected against unauthorized access (both physical and logical).
- Availability: The system is available for operation and use as committed or agreed.
- Processing Integrity: System processing is complete, valid, accurate, timely, and authorized to meet the entity’s objectives.
- Confidentiality: Information designated as confidential is protected as committed or agreed.
- Privacy: Personal information is collected, used, retained, disclosed, and disposed of to meet the entity’s objectives.
A SOC 2 report is an internal control report on the services provided by a service organization to its customers and provides valuable information that existing and potential customers of the service organization need to assess and address the risks associated with an outsourced service.
Current and prospective customers interested in a copy of our SOC 2 report may contact [email protected].