A SOC 1 report has a financial focus that includes a service organization’s controls relevant to an audit of a service organization’s client’s financials. The service organization (with the assistance of the auditors) will figure out what the key control objectives are for the services they are providing to their clients. Control objectives will be related to both information technology processes and business processes at the service organization.
A SOC 2 report also falls under the SSAE 18 standard, though it is specifically addressed in sections AT-C 105 and AT-C 205. The SOC 2 report includes a service organization’s controls that are outlined by the AICPA’s Trust Services Criteria (TSC), that are relevant to its services, operations, and compliance. There are five available criteria that include security, availability, processing integrity, confidentiality, and privacy.
The Health Insurance Portability and Accountability Act (HIPAA) sets the standard for sensitive patient data protection. Companies that deal with protected health information (PHI) must have physical, network, and process security measures in place and follow them to ensure HIPAA Compliance. Covered entities (anyone providing treatment, payment, and operations in healthcare) and business associates (anyone who has access to patient information and provides support in treatment, payment, or operations) must meet HIPAA Compliance. Other entities, such as subcontractors and any other related business associates must also be in compliance.
ISO 27001:2013 is the international standard that provides a framework for Information Security Management Systems (ISMS) to provide continued confidentiality, integrity and availability of information as well as legal compliance. ISO 27001 certification is essential for protecting your most vital assets like employee and client information, brand image and other private information. The ISO standard includes a process-based approach to initiating, implementing, operating and maintaining your ISMS.
GDPR is a set of rules that protect individuals’ privacy. The legislation regulates the processing of EU residents’ and citizens’ personal data, including collection, use, transfer, monitoring, tracking, and even viewing of personal data. It went into effect on May 25, 2018. Data subjects, as individuals are called in GDPR, have more rights to control their data.
Peppol is a set of artifacts and specifications enabling cross-border eProcurement. The use of Peppol is governed by a multi-lateral agreement structure which is owned and maintained by Open Peppol. Peppol enables trading partners to exchange standards-based electronic documents over the Peppol network (based on a 4-corner model). These documents include e-Orders, e-Advance Shipping Notes, eInvoices, eCatalogues, Message Level Responses, etc.
Palette Software was founded in 1993 in Stockholm and has offices in the United States and the Nordics. Palette solutions are available through a growing network of partners in some 50 countries in North America, Europe, and Australia.
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