Audit extends Adenza’s commitment to meeting the highest standards of information security
Adenza, the new company formed by the merger of Calypso Technology and AxiomSL to provide customers with end-to-end trading, treasury, risk management and regulatory compliance platforms, today announced the completion of a System and Organization Controls (SOC) 1 and 2 Type II audit of its Calypso Cloud Services and RegCloud data management and regulatory reporting solutions.
These independent audits, conducted by Schellman & Company and Ernst and Young, confirm that Adenza has implemented the necessary internal controls and processes to meet the criteria of the Trust Services Principles of the American Institute of Certified Public Accountants (AICPA). These successful SOC assessments follow a recent recommendation for continued certification to the Information Security Management System Standard ISO 27001 for both RegCloud and Calypso Cloud Services.
To meet the growing needs of the ever-expanding technology companies who are classified as service organization for SOC reporting, the AICPA put forth the SOC 2 framework, a reporting option specifically designed for entities such as data centres, I.T. managed services, Software as a Service (SaaS) vendors, and many other technology and cloud-computing based businesses.
The SOC 1 and 2 Type II audits validate the effectiveness of a third-party vendor’s internal control over financial reporting and controls related to security, focused on assurance around security, availability and confidentiality.