Independent Audit Verifies LotusFlare's Internal Controls and Processes
Santa Clara, California – January 24, 2023 - LotusFlare , a leading provider of enterprise commerce and monetization managed services, today announced that it has completed its SOC 2 Type I audit, performed by KirkpatrickPrice. This attestation provides evidence that LotusFlare 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 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 audit report delivered by KirkpatrickPrice verifies the suitability of the design of LotusFlare’s controls to meet the standards for these criteria.
“At LotusFlare we have adhered to the principles of security and privacy by design since day one. We’re proud to have achieved SOC 2 Type 1 compliance,” said Sam Gadodia, CEO and Co-founder of LotusFlare. “Successfully completing this audit demonstrates our commitment to protecting customer data and ensures that we operate at the highest security and privacy standards.”
“The SOC 2 audit is based on the Trust Services Criteria,” said Joseph Kirkpatrick, President of KirkpatrickPrice. “LotusFlare delivers trust-based services to their clients, and by communicating the results of this audit, their clients can be assured of their reliance on LotusFlare’s controls.”
KirkpatrickPrice is a licensed CPA firm, PCI QSA, and a HITRUST CSF Assessor, registered with the PCAOB, providing assurance services to over a 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.