Independent Audit Verifies Inovatec’s Internal Controls and Processes
Inovatec Systems Corp., a provider of industry-leading, cloud-based software solutions for all financial institutions, today announced that it has completed its SOC 1 Type II and SOC 2 Type II audits, performed by KirkpatrickPrice. These attestations provide evidence that Inovatec has a strong commitment to security and to delivering high-quality services to its clients by demonstrating that they have designed the necessary internal controls and processes.
A SOC 1 audit provides an independent, third-party validation that a service organization’s information security practices meet industry standards stipulated by the AICPA and SSAE 18. During the audit, a service organization’s controls that are relevant to ICFR are tested. The SOC 1 report delivered by KirkpatrickPrice verifies the suitability of the design of Inovatec’s controls to meet the standards for these criteria.
A SOC 2 audit provides an independent, third-party validation that a service organization’s information security practices meet industry standards stipulated by the AICPA. During the audit, a service organization’s non-financial reporting controls as they relate to security, availability, processing integrity, confidentiality, and privacy of a system are tested. The SOC 2 report delivered by KirkpatrickPrice verifies the suitability of the design of Inovatec’s controls to meet the standards for these criteria.
“Each year, Inovatec takes extensive measures to protect the integrity, quality, and confidentiality of our customers’ data,” said Christian Reina, Information Security Officer at Inovatec. “We adhere to the highest industry standards, ensuring the security and privacy of information in every transaction.”
“Many of Inovatec’s clients rely on them to protect consumer information and provide secure services,” said Joseph Kirkpatrick, President of KirkpatrickPrice. “As a result, Inovatec has implemented best practice controls demanded by their clients to address information security and compliance risks. Our third-party opinion validates these controls and the tests we perform provide assurance to Inovatec’s clients.”
Inovatec Systems Corporation is obsessed with improving the outcomes for Lenders in the USA and Canada. As an industry-leading provider of cloud-based lending solutions, Inovatec's JAVELIN platform disrupts standard practice with Success Based Pricing. Success Based Pricing Means Lenders pay only for the transactions they book - a first for the industry.
KirkpatrickPrice is a licensed CPA firm, PCI QSA, and a HITRUST CSF Assessor, registered with the PCAOB, providing assurance services to over one thousand clients in North America, South America, Asia, Europe, and Australia. The firm has more than a decade of experience in information security by performing assessments, audits, and tests that strengthen information security practices and internal controls. KirkpatrickPrice most commonly performs assessments on SOC 1, SOC 2, PCI DSS, HIPAA, HITRUST CSF, GDPR, ISO 27001, FISMA, and FERPA frameworks, as well as advanced-level penetration testing. For more information, visit www.kirkpatrickprice.com, follow KirkpatrickPrice on LinkedIn, or subscribe to our YouTube channel.