Salt Lake City-based mortgage document preparation vendor International Document Services, Inc. (IDS), announced that it passed the Service Organization Control (SOC) 2 audit with no exceptions.
The audit covered IDS's activities over a five and a half month period between Dec. 1, 2013, and May 13, 2014. The audit scrutinized the company's policies, procedures, and services and answered and verified more than 100 questions relating to them. Auditors also tested and verified the availability of IDS's services and security of its systems in relation to those questions in person at IDS's office.
"The CFPB (Consumer Financial Protection Bureau) has taken a hard stance on vendor management, and we've experienced a huge demand from our clients for verification of our processes, especially where privacy is concerned," IDS EVP Mark Mackey said. "By undergoing the rigorous SOC 2 audit, we're able to provide our clients certified proof of the integrity of our processes."
The SOC 2 audit was created by the American Institute of CPAs (AICPA) for the purpose of assessing the "controls at a service organization relevant to security, availability, processing integrity confidentiality, or privacy."
This was the first time IDS has been reviewed with the SOC 2 audit; IDS In-house Counsel Clint Salisbury stated that IDS would be submitting to this audit yearly in addition to the annual SSAE-16 audit that was just completed.
"The integrity of our services is based on the ability to secure our clients' nonpublic personal information and maintain the availability of our product 24/7, especially during critical work hours," Salisbury said.