November 22, 2023 (EAST HANOVER, NJ) — SWK Technologies, Inc. (“SWK”) announced today that it has successfully completed its Type 2 SOC 2 audit as of Q4 2023. A SOC 2 report affirms that an organization’s infrastructure, software, people, data, policies, procedures and operations have been formally reviewed for compliance with cybersecurity best practices.
SOC 2® stands for System and Organization Controls (or Service Organizations Controls), level 2. Established by the American Institute of Certified Public Accountants (AICPA), there are three levels of SOC certification under the AICPA SSAE (Statement on Standards for Attestation Engagements) auditing standards, with two additional sublevels of report for each – Type 1 and Type 2.
A SOC assessment is tailored to each report level and Type within the guidelines required:
- SOC 1 – Internal Control over Financial Reporting (ICFR)
- SOC 2 – Trust Services Criteria
- SOC 3 – Trust Services Criteria for General Use
For SOC 2 compliance, organizations must meet the Trust Services Criteria for their service commitments and system requirements as outlined in the audit report, being able to demonstrate fulfillment of the following:
- Security
- Availability
- Processing Integrity
- Confidentiality
- Privacy
A SOC 2 Type 1 report validates the design of security controls at a point of time, while a Type 2 audit validates the design and operating effectiveness of those controls over a 3 to 12-month period. SWK’s managed IT, software consulting, and hosting services successfully completed a SOC 2 Type 1 examination in 2022. The SOC 2 Type 2 examination provides a letter of successful attestation (i.e., report), and confirms that the organization is addressing controls in areas such as information security, user access, vendor management, system backup, business continuity and disaster recovery, and more.
“SWK Technologies is proud to receive our SOC 2 Type 2 report, which helps demonstrate our commitment to protecting our customers’ vital systems and data,” said Bill Michael, CIO of SWK. “The SOC report is an important qualifier of organizational security controls and compliance and reinforces SWK’s pledge to deliver excellence through our managed IT, consulting, and hosting services.”
About SWK Technologies, Inc.
SWK Technologies, Inc. (swktech.com), empowers business leaders to fulfill their vision of a smarter and easier way to run their organizations. SWK helps small and mid-sized enterprises streamline operations and reduce manual tasks and gain valuable insights into critical data by modernizing and integrating accounting and finance systems, automating processes, managing talent, and leveraging a scalable infrastructure to securely access data and applications from anywhere. Additionally, SWK offers managed cloud services (MCS) supported by dedicated regional teams coast-to-coast across the U.S., core accounting and financial software, and process automation solutions. SWK’s parent company, SilverSun Technologies, Inc., is publicly traded (NASDAQ: SSNT).).
MEDIA CONTACT:
Antonio Carrion
SWK Technologies, Inc.
(973) 396-1747
PR@swktech.com