Independent Audit Verifies lienwaivers.io Internal Controls and Processes
Sioux City, IA – lienwaivers.io, an electronic construction disbursement platform, today announced that it has completed its SOC 1 (SSAE 18) Type I and SOC 2 Type I audit. This attestation verifies that lienwaivers.io has the proper internal controls and processes in place to deliver high quality services to its clients.
KirkpatrickPrice, a licensed CPA and PCI QSA firm, performed the audit and appropriate testing of lienwaivers.io’s controls that may affect its clients’ financial statements. A SOC 1 Type I report is in compliance with the SSAE 18 auditing standards and focuses on the controls of a service organization that are relevant to an audit of a user entity’s financial statements. This report includes lienwaivers.io’s description of controls as well as the detailed testing of its controls at a specific point in time. The standard demonstrates that an organization has adequate controls and processes in place. Federal regulations such as Sarbanes-Oxley and the Gramm-Leach-Bliley Act require corporations to audit the internal controls of their suppliers, including those that provide technology services.
SOC 2 engagements are based on the AICPA’s Trust Services Principles. SOC 2 service auditor reports focus on a Service Organization’s non-financial reporting controls as they relate to security, availability, processing integrity, confidentiality, and privacy of a system. KirkpatrickPrice’s service auditor report verifies the suitability of the design and operating effectiveness of lienwaivers.io’s controls to meet the criteria for these principles.
“We’re serious about building great software,” stated Geoff Arnold, CEO of lienwaivers.io, “And a key component of that is giving security and compliance a central role in the software development process. With the completion of our SOC 1 Type I and SOC 2 Type I audit, we are setting a new standard for security and reliability in construction software.”
“lienwaivers.io’s customers and partners rely on them to protect consumer information,” said Joseph Kirkpatrick, Managing Partner with KirkpatrickPrice. “As a result, lienwaivers.io has implemented best practice controls demanded by their customers to address information security and compliance risks. Our third-party opinion validates these controls and the tests we perform provide assurance regarding the managed solutions provided by lienwaivers.io.”
At lienwaivers.io, we’re building the best-in-class cloud-based construction disbursement solution. Our platform uses leading technology to save builders time and money while reducing their operational risk. Our products span lien waiver creation and tracking, electronic payments, electronic notarizations, and tax form preparation. In addition to a la carte features, we offer a partner-friendly API that allows organizations to offer their customers/partners a white label experience. We integrate with popular construction accounting and project management software such as Sage 100, Sage 300, Quickbooks, Xero and Procore, and offer custom integrations where needed. Our cloud-based software is pay-as-you-go, with no expensive installations or complicated training. For more information, visit https://lienwaivers.io or follow us online at @lienwaivers on Twitter or Facebook.
KirkpatrickPrice is a licensed CPA firm, PCI QSA, and a HITRUST CSF Assessor, registered with the PCAOB, providing assurance services to over 600 clients in more than 48 states, Canada, Asia, and Europe. The firm has over 12 years of experience in information security and compliance assurance by performing assessments, audits, and tests that strengthen information security and internal controls. KirkpatrickPrice most commonly provides advice on SOC 1, SOC 2, HIPAA, HITRUST CSF, PCI DSS, ISO 27001, FISMA, and CFPB frameworks. For more information, visit www.kirkpatrickprice.com, follow KirkpatrickPrice on Twitter (@KPAudit), or connect with KirkpatrickPrice on LinkedIn.