Pittsburgh, PA – accūrō Solutions, which provides bill processing and bill review technology and services to workers’ compensation and other property and casualty payers, recently announced that it has successfully completed SOC 1 Type 2 and SOC 2 Type 2 attestations.
“These are major accomplishments for a two-year-old company in our industry,” said CEO Ken Hannigan. “The SOC reports assure current and future clients that we have effective processes and controls in place to protect their data and operate bill review workflow efficiently.”
SOC stands for Service Organization Control. Developed by the American Institute of Certified Public Accountants, the SOC 1 examinations focus on a service organization’s business processes and IT controls related to their user entities’ (clients’) internal control over their financial reporting. Both SOC 1 Type 2 and SOC 2 Type 2 examinations were conducted by the Certified Public Accounting firm Schneider Downs.
The SOC 1 Type 2 report verified the fairness of accūrō Solutions’ description of its system and the suitability of the design of the controls to achieve its related control objectives and operations over a specified period. The SOC 2 Type 2 examination reports on non-financial reporting controls and processes that relate to AICPA’s Trust Services Criteria.
“Essentially, SOC 2 Type 2 examines how a service provider handles sensitive information and covers the suitability of the company’s controls as well as its operating effectiveness over time,” said Chief Operating Officer B. J. Dougherty. “Achieving the SOC 2 Type 2 attestation tests how accūrō Solutions utilizes modern, cloud-based technologies to protect customer data, confidentiality, and privacy and how our processes and systems operate compared to the established controls.”
Source: accuro Solutions/King Knight