CPA Firm Issues SOC 2SM Report on Controls over Security, Availability, Processing Integrity, Confidentiality, and Privacy at Locus Technologies
News Sep 26, 2012
Locus Technologies (Locus), an industry leader in Cloud-computing enterprise software for environmental, energy, air, water, and compliance management, has announced that the company has undergone a Service Organization Control 2SM examination resulting in a CPA’s report stating that management of Locus Technologies maintained effective controls over the security, availability, processing integrity, confidentiality and privacy of its Software as a Service (SaaS) system. The engagement was performed by Cropper Accountancy.
A SOC 2SM report is designed to meet the needs of existing or potential customers who need assurance about the effectiveness of controls at Locus that are relevant to the security, availability, or processing integrity of the system used by Locus to process customers’ information, or the confidentiality or privacy of that information. The SOC 2SM report places Locus in a rare category among environmental data management providers to have attained this rigorous classification. In today's corporate social responsibility (CSR) and risk-management environment, it is essential that service providers like Locus demonstrate that they have adequate controls and safeguards in place so customers can be confident that their data are safe.
"We are pleased that our SOC 2SM report has shown that we have the appropriate controls in place to mitigate risks related to security, availability, processing integrity, confidentiality and privacy of customers’ environmental, energy, sustainability, and compliance data stored in Locus Cloud,” said Dr. Neno Duplan, President and CEO of Locus. “The culture here at Locus is to put our customers first at all times, and it is essential that they feel secure in trusting us with their data.”
The following principles and related criteria have been developed by the American Institute of CPAs (AICPA) and the Canadian Institute of Chartered Accountants (CICA) for use by practitioners in the performance of trust services engagements:
· Security. The system is protected against unauthorized access (both physical and logical).
· Availability. The system is available for operation and use as committed or agreed.
· Processing integrity. System processing is complete, accurate, timely and authorized.
· Confidentiality. Information designated as confidential is protected as committed or agreed.
· Privacy. Personal information is collected, used, retained, disclosed and destroyed in conformity with the commitments in the entity’s privacy notice and with criteria set forth in generally accepted privacy principles issued by the AICPA and CICA.
A SOC 2SM report is an internal control report on the services provided by Locus to its customers and provides valuable information that existing and potential customers of the service organization need to assess and address the risks associated with an outsourced service.