Calgary, Alberta (March 19, 2019) – Absorb Software, maker of Absorb Learning Management System (LMS) has successfully completed its AICPA System and Organization Controls (SOC) 2 Type 2 examination for Security and Availability. The independent CPA examination for Absorb was conducted by Schellman & Company, LLC between July 1, 2018 and December 31, 2018. This compliance success is yet another way Absorb is positioning itself for continued growth following the strategic investment of Silversmith Capital.
Commitment to Customer Security
SOC 2 is one of the premier compliances for security and availability—especially in North America.
"Successfully completing this SOC 2 Type 2 examination is the yet another way Absorb is demonstrating its deep commitment to customer data security," said Absorb CEO, Mike Owens, "Our dedicated Information Security Officer is forging new ground, and we look forward to announcing additional and significant security certifications as the year unfolds. Each will broaden the value Absorb brings to customers, especially those in regulated industries. Stay tuned."
The SOC 2 examination reports on the security behind highly sensitive transactions. Customers want to be able to trust their data providers with confidential information, and a clean SOC 2 Type 2 examination means companies can depend on their service provider for secure, compliant services. This in turn means less worry for the end customer and less investment on their part in terms of controls.
"Adhering to the 157 controls in the SOC 2 Type 2 standard, means that Absorb is more robust in terms of data security than competitors who do not have a SOC 2 report," says Craig Smith, Executive Vice President, Operations. "Having a successful SOC 2 Type 2 examination should give our clients confidence that we are diligent in how we protect their data."
Looking ahead, Absorb is proceeding with the SOC 2 Type 2 examination for Confidentiality, which is slated to be completed in 2019.
What is SOC 2 Type 2?
According to the American Institute of CPAs (AICPA):
"In a SOC 2 examination, service organization management engages the CPA to examine and report on system controls relevant to security, availability, processing integrity, confidentiality, or privacy as set forth in the AICPA's trust services criteria." 1