Darwin EPM continues its partnership with Lazarus Alliance for its annual SSAE 18 SOC 1 Type 2 audits.
SCOTTSDALE, Ariz., September 11, 2018 (Newswire.com) - Lazarus Alliance, leading cybersecurity, governance, risk, and compliance (GRC) firm, continues its partnership with Darwin EPM, developers of agile enterprise performance management software solutions. Lazarus Alliance performs audits and appropriate testing of Darwin EPM’s controls for its annual SOC 1 Type 2 reports and helps the company maintain its security controls between audits.
"The Lazarus Alliance team continues to be an effective partner to Darwin EPM. Their depth of experience and productized tool ITAM from Continuum GRC help us maintain compliance in a cost-effective manner, said Peter Bull", CEO of Darwin EPM.
The Service Organization Control 1 (SOC 1) report is part of the AICPA SOC reporting framework. SOC 1 reports utilize the well-known SSAE 18 attestation standard and address financial reporting controls that are relevant to user entities’ internal control over financial reporting. The SOC 1 is a “restricted use” report that is shared only with the management of the company that is having the SOC 1 performed, their clients, and their clients’ financial auditors.The SOC 1 Type 2 demonstrates that an organization has adequate controls and processes in place and gives their customers their confidence that their organization meets the highest global standards for internal controls.
“The SOC 1 Type 2 demonstrates that an organization has adequate controls and processes in place and gives their customers their confidence that their organization meets the highest global standards for internal controls,” said Michael Peters, CEO of Lazarus Alliance. “By completing the SOC 1 Type 2 audit process, companies gain instant credibility, the potential to grow their market share, and the ability to independently assess their internal financial controls.”
To get Darwin EPM through each audit as quickly as possible and help the company maintain data security and governance between audits, Lazarus Alliance utilizes Continuum GRC’s IT Audit Machine (ITAM), a cloud-based GRC automation solution that integrates IT governance, policy management, risk management, compliance management, audit management, and incident management. It includes easy-to-use, self-help modules encompassing the full spectrum of regulatory and industry data security requirements, including SOC 1 Type 2 reporting requirements.
“SOC 1 audits typically have to be performed annually, and if the reporting process isn’t automated, it’s costly and time-consuming,” Peters noted. “With ITAM, we get our clients from start to compliant relatively easily, quickly, and at a significantly lower cost than traditional audit methods. The software also makes it easier for them to maintain security, governance, and compliance between audits.”
Source: Lazarus Alliance