DENVER, CO (June 14, 2022) – Pax8, the leading cloud commerce marketplace, today announced it has completed the Service Organization Control for Service Organizations (SOC 2) type 1 examination to assess information security controls over its system relevant to security, availability, processing integrity, confidentiality, and privacy.
SOC 2 is a voluntary compliance standard for service organizations, developed by the American Institute of CPAs (AICPA), which specifies how organizations should manage customer data. SOC 2 is a globally recognized report for cybersecurity risk management controls, developed by the American Institute of Certified Public Accountants (AICPA) to inform organizations about implementing security controls of the service organizations they choose. SOC 2 Type 1 audit done by an independent Certified Public Account (CPA) defines criteria for managing customer data based on five trust principles; security, availability, processing integrity, confidentiality, and privacy.
“We strive to continue building and maintaining trust with our partners, and advancing our security controls through the passage of SOC 2 is more proof of our values and commitment,” said Brad Fugitt, Chief Information Security Officer (CISO) at Pax8. “Passing the thorough examination exemplifies that we are optimizing our processes and covering our controls’ suitability. We will continue to raise the bar to build trustworthy systems with the highest transparency.”