In the fast-paced landscape of business operations, the secure exchange of information stands as a cornerstone of success across all industries. Cybersecurity, confidentiality, and data privacy remain paramount concerns, particularly in the realm of document exchanges and data transfers. Trust Your Supplier (TYS), a flagship initiative under the purview of Chainyard, acknowledges the critical nature of these issues within its network of participants. To bolster this commitment, TYS and Chainyard proudly announce the successful completion of SOC 1 & SOC 2 Type 2 examinations for the fourth consecutive year with no exceptions, reaffirming its dedication to meeting the most stringent data security requirements.
The examination was conducted by A-LIGN, a technology-enabled security and compliance firm trusted by more than 4,000 global organizations to help mitigate cybersecurity risks.
What is SOC 2 report?
A SOC 2 report addresses risks associated with the handling and access of data, and can be used by a variety of organizations of any size (e.g. SaaS, colocation, data hosting, etc.) Rather than a cybersecurity assessment that evaluates specific technical configurations, a SOC 2 report focuses more on how an organization implements and manages controls to mitigate the identified risks to the different parts of an organization.
The SOC 2 audit testing framework is based off of the Trust Services Criteria (TSC), which are used to identify various risks (points of focus) an organization should consider addressing. Based on the TSCs the organization selects to be in-scope, the third-party compliance and audit firm evaluates whether the organization has the appropriate policies, procedures and controls in place to manage the identified risks effectively.
In order to pass a SOC 2 examination and receive a letter of attestation successfully, it means an organization is addressing controls in areas such as information security, access control, vendor management, system backup, business continuity and disaster relief, and more.
Trust Your Supplier & Chainyard performs SOC 1 and SOC 2 audits on an annual basis and reports are available to current clients upon request and to potential clients upon execution of a non-disclosure agreement. If you are interested in viewing these SOC reports, please contact us.
