FloQast Completes SOC 2 Type 2 and ISO 27001 Certification
Dec 08, 2021 | By GlobeNewswire
Certification Reiterates FloQast’s Commitment to Protecting Customer Data Through Effective Security, Availability, and Confidentiality Processes
LOS ANGELES, Dec. 8, 2021 — FloQast, a provider of accounting workflow automation software created by accountants for accountants, today announced it has obtained its ISO 27001 certification and has also upgraded its SOC 2 certification from Type 1 to Type 2. FloQast’s former Type 1 report was an initial reflection of the company having the appropriate policies and controls to meet security, availability, and confidentiality standards. The new Type 2 report demonstrates that FloQast has continued to adhere to those policies and controls from the moment Type 1 was certified through today, a reflection of its commitment to protecting customer data.
"These certifications are vital because they indicate to the market – and most importantly, our customers – that we take security very seriously," said Mike Whitmire, CPA*, CEO and co-founder of FloQast. "I'm particularly proud because not only did we meet the certification standards, but direct feedback from auditors showed that we exceeded them at levels rarely seen in the industry."
The company used its FloQast Ops solution to manage the certification audits. FloQast Ops allowed the team to manage the myriad of tasks associated with these certifications, centralize the capture of documentation, improve visibility into certification status and increase collaboration across internal teams.
ISO 27001 Certification Highlights
ISO 27001 certification is an international information security standard that demonstrates an organization has the tools and systems in place to ensure the confidentiality, integrity, and availability of all corporate data. Published by the ISO (International Organization for Standardization) and IEC (International Electrotechnical Commission), ISO 27001 is the only certifiable information security standard recognized internationally.
ISO audits typically uncover non-conformities, and organizations need to show they have made progress on those items in the following year’s audit. In most cases, it takes three to five years to clear all non-conformities. FloQast completed its first ISO 27001 audit with zero non-conformities, which is virtually unheard of – a testament to how security is prioritized within the company.
In addition, the company's risk assessment process was noted as unique and exceptional throughout the audit. Risk assessment is a core pillar of security, and this confirms that FloQast isn't simply checking a box, but understands the objective of risk assessment and uses creativity to improve on standard methodology.
SOC 2 Type 2 Certification Highlights
This SOC 2 certification gives FloQast customers assurance that its platform meets security, availability, and confidentiality standards as defined by the American Institute of CPAs (AICPA). Type 1 certification confirms controls at a specific point in time, while Type 2 tests the effectiveness of controls over a period of time, typically six to 12 months.
FloQast completed its SOC 2 Type 2 audit with zero exceptions, meaning it performed every control perfectly throughout the entire review period. This is especially uncommon this year, considering many organizations missed controls as they adjusted to remote work.
A Deloitte Technology Fast 500 company for 2020 and 2021, FloQast delivers workflow automation software enabling organizations to operationalize accounting excellence. Trusted by more than 1,500 accounting teams – including Twilio, CoinBase, Los Angeles Lakers, Zoom, and SnowFlake – FloQast was built by accountants, for accountants to enhance the way accounting teams work. FloQast enables customers to streamline processes such as automated reconciliations, documentation requests, and other workflows that impact the month-end close, financial reporting, and payroll, and is consistently rated #1 across all user review sites. Learn more at FloQast.com.
BOCA Communications for FloQast