Bitwave, the leading provider of digital asset tax and accounting software for enterprises, announced today that it is a recognized recipient of the Service Organization Control 1 (SOC 1) Type I report and a Service Organization Control 2 (SOC 2) Type I report. By meeting the AICPA’s stringent SOC certification requirements, Bitwave demonstrates its commitment to protecting business organizations’ data and ensuring compliance.
The SOC reports validate Bitwave as a trusted source of financial data for public auditors, and streamline the public audit process for publicly traded enterprise customers. The company’s internal controls, such as new hire and employee compliance, change management policies, logical platform access, and computer operations and monitoring, were tested in accordance with attestation standards established by the American Institute of Certified Public Accountants. Having access to a SOC certified software removes red tape for CFOs and mitigates audit risk in a rapidly evolving regulatory landscape.
The reports, issued by Aprio, with the SOC gap assessments and readiness provided by Deloitte, help clear a pathway for enterprises looking to adopt digital assets. “Large enterprise clients need reliable, scalable data sources like Bitwave to confidently diversify their balance sheet and unlock the potential of the DeFi movement,” said Pat White, co-founder and CEO of Bitwave. “The SOC certification validates our internal processes and controls to give our customers and partners peace of mind that our technology meets the highest quality standards in the industry.”
Since launching in 2018, Bitwave has emerged as an industry leader in all things digital assets, working with numerous public and Fortune 500 customers. Earlier this year, the firm announced that it had developed the industry’s first Digital Asset Maturity Model – a business roadmap designed to help enterprises assess their cryptocurrency adeptness, streamline adoption of these new assets, and unlock business value in a four-step framework for action.
White commented, “We pride ourselves on operating with transparency and this recognition showcases Bitwave’s mission to deliver a secure experience worthy of our customers’ trust.”