Independent Audit Verifies LotusFlare’s Internal Controls and Processes Comply with Global Information Security Standards
Santa Clara, CA – August 29, 2023 - LotusFlare, a provider of cloud-native commerce and monetization managed service that provides a digital business support system for communications services providers, today announced that it has completed its annual SOC 2 Type II and ISO 27001 audit, performed by KirkpatrickPrice, a licensed CPA firm specializing in information security. This attestation underlines that LotusFlare has a strong commitment to security and to delivering high-quality services to its clients by demonstrating that they have the necessary internal controls and processes in place to meet the highest standards of confidentiality, integrity and availability with its service offerings.
A SOC 2 audit provides an independent, third-party validation that an organization’s information security practices meet industry standards stipulated by the AICPA. During the audit, a service organization’s non-financial reporting controls relating to the security, availability, processing integrity, confidentiality, and privacy of a system are tested. The SOC 2 report delivered by KirkpatrickPrice verifies the suitability of the design and operating effectiveness of LotusFlare’s controls to meet the rigorous standards for these criteria.
ISO 27001 is a specification for an ISMS (Information Security Management System) standard. An ISMS is a framework of policies and procedures that includes all legal, physical, and technical controls involved in an organization's information risk management processes. An international standard, ISO 27001 applies controls from the following areas: security policy, organization and information security, asset management, human resources security, physical and environmental security, communication and operations management, access control, information systems acquisition, security incident management, business continuity management, and compliance. The ISO 27001 compliance report delivered by KirkpatrickPrice verifies that LotusFlare has implemented adequate administrative, physical, and technical controls to address its security risks.
“LotusFlare has always been focused on the security of our customers' and employees' data, as well as all processes and procedures to guarantee the availability of our services. After the successful completion of SOC 2 Type I, we are proud to have achieved SOC 2 Type II compliance,” said Martin Rehwald, VP of Engineering and Security at LotusFlare. “SOC 2 Type II Attestation and ISO 27001 Compliance sets the company’s security practices even higher. This is proof of our constant work and commitment to improve and enhance our procedures. We’ll continue to protect customer data and ensure we operate at the highest security and privacy standards.”
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.