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Table of Contents:
Keeping your data safe is of the highest importance to us at Innovation Refunds. That’s why we’re proud to have earned the System and Organization Control (SOC) 2 Type 1 designation, also known as “SOC 2”.
SOC 2 Type 1 is a very popular type of cybersecurity audit and is used by many organizations to demonstrate that their privacy and security measures meet trust criteria set out by the AICPA, including security, privacy, availability, confidentiality, and processing integrity. It focuses on examining the controls that protect and secure a system or service.
It’s important to note that this is a voluntary compliance standard for service organizations. We do this because we're committed to protecting your information, keeping your data secure and protecting your privacy.
Keep reading, and we’ll tell you more.
What is SOC 2 Compliance?
SOC 2 Type 1 is a voluntary compliance standard for service organizations, developed by the American Institute of CPAs (AICPA), which specifies how organizations should manage customer data.
As you might know, there are many sensitive business documents needed to claim the ERC. Your organization has spent time and effort producing valuable tax forms, receipts, and more. It’s our goal to honor them by keeping them safe and secure.
While our data security protocols have always been strict, this designation means that we meet these rigorous security standards.
“We’re very proud to be designated SOC 2 Type 1 compliant,” said Innovation Refunds Founder and CEO, Howard Makler. “Nothing matters more to us than managing customer data securely, and with integrity. We work hard every day to ensure we meet this important AICPA designation.”
Benefit #1: Meeting Rigorous SOC 2 Standards
When dealing with sensitive business information, you can never be too careful. That’s one reason why we underwent a SOC 2 Type 1 audit.
This rigorous process involves describing the procedures, policies, and systems we have in place to protect information across five categories called Trust Services Criteria – security, privacy, availability, confidentiality, and processing integrity.
Following the audit, the auditor provides a written evaluation of the service organization’s internal controls. The entire process is audited by an AICPA-accredited firm, which means that they have been certified by The American Institute of Certified Public Accountants.
Benefit #2: Independent Third-Party Assurance
The SOC 2 certification is a widely accepted auditing and reporting procedure for assessing security frameworks and managerial decisions applied by financial service organizations.
As we mentioned above, the main principles on which it's based are security, availability, processing integrity, confidentiality, and privacy. More specifically, a SOC 2 Type 1 audit tests against the following standards:
-Security – Information and systems are protected against unauthorized access, unauthorized disclosure of information, and damage to systems that could compromise the availability, integrity, confidentiality, and privacy of information or systems and affect the entity’s ability to meet its objectives.
-Availability – Information and systems are available for operation and use to meet the entity’s objectives.
-Processing integrity – System processing is complete, valid, accurate, timely, and authorized to meet the entity’s objectives.
-Confidentiality – Information designated as confidential is protected to meet the entity’s objectives.
-Privacy – Personal information is collected, used, retained, disclosed, and disposed of to meet the entity’s objectives.
These five trust services are paramount to passing muster.
Benefit #3: Innovation Refund’s Significant Investment
No matter which ERC company you select, look for a provider who has a SOC 2 attestation to know that your data is being managed with your security and privacy in mind.
Our company has made a significant investment in time and resources for SOC 2 Type 1 compliance and believes it will pay off in customer safety, as well as satisfaction.
Benefit #4: Audited Controls
With audited internal controls, we can offer security and efficiency across our organization that has been certified against a rigorous standard. Checking and double-checking all of our systems, software, policies, procedures, people, and processes is ultimately done to benefit our customers.
Benefit #5: Giving You Some Peace Of Mind
Ultimately, we underwent all this to help give you the peace of mind you deserve, so you’ll know that your sensitive information is in good hands with Innovation Refunds.
As your trusted service provider, you can be at ease knowing that we practice rigorous data security protection practices. These are designed to improve the overall experience for you
Are you ready to explore a refund that could fuel growth for your business? Check your ERC eligibility with Innovation Refunds today.
