We’re pleased to announce that Napier has successfully completed the SOC2 Type 2 audit - the culmination of many months’ work with external auditors. We are delighted with this achievement as it is an endorsement to our ongoing commitment to providing the best security for our clients and their data.
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What is a SOC report?
The SOC framework was designed to complement existing controls reports to test the operating effectiveness of security controls over a period.
System and Organization Controls (SOC), defined by the American Institute of Certified Public Accountants (AICPA), is the name of a suite of reports produced during an audit of existing controls.
SOC reports are independent third-party examination reports, and are categorised into SOC1, SOC2 and SOC3 type reports.
For more detail on what each of these reports entails, please visit AICPA’s website.
The SOC 2®: SOC for Service Organizations: Trust Services Criteria
Napier completed a type 2 SOC2 report which is our management’s description of our system and the suitability of its design and operating effectiveness of controls we use to process our users’ data, and the confidentiality and privacy of the information processed by our systems. The examination of the report and system was performed by an external auditor in accordance with AICPA’s requirements.
These reports will play an important role in:
- Oversight of Napier
- Our internal corporate governance and risk management processes
- Our regulatory oversight
The auditor’s report concluded that the controls stated in the description were suitably designed and operated effectively to provide reasonable assurance that Napier’s service commitments and system requirements would be achieved.
This is an ongoing process for Napier (as it is for all organisations who undertake the SOC2), as the certification must be reviewed and renewed each year, encouraging organisations to continually maintain exceptional standards and assurance about its controls.
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