Ledgible is SOC 1 & 2 Audited - What Does That Mean?

January 31, 2022
Knowledge Center » Blog » Ledgible is SOC 1 & 2 Audited - What Does That Mean?

At Ledgible, we understand the importance of security, which is why we've undertaken and completed the process of having our industry-leading cryptocurrency tax and accounting tools AICPA SOC 1& 2 certified. We firmly believe that if you want to build the best tools for the tax and accounting space, especially tools that interface with the new hyper-secure world of crypto, you have to put data security and privacy at the forefront of your product development.

SOC, or system and organization control certification isn't a requirement to create cryptocurrency tax and accounting software, but we've made it a requirement for our tools. This exemplifies that we understand that your data security is critical and we continuously seek the highest possible standards for cybersecurity and data management.

The SOC 1 & 2 Audit process tests our platform's strength and internal data controls. Throughout the process, internal auditors provide objective feedback to our teams and also list out action items, if any to improve our existing security practices.

What does being SOC 1 & 2 Certified mean?

There a SOC 1 and SOC 2 are different levels or types of audits. SOC 1 audits cover control objectives and address or mitigate any risks that our software faces. SOC 2 evaluates our data security and storage, evaluating how companies handle client data as well as organizational controls in place to ensure secure operating environments.

On both fronts, achieving SOC 1 & 2 Audits is no easy task. Independent auditors evaluate and have evaluated Ledgible's Security, availability, processing integrity, confidentiality, privacy, and more.

Why Ledgible Values being SOC 1 & 2 Audited

Cryptocurrency and the tax and accounting landscape is ever-changing as new regulations are released and new methods of processing data are rolled out. While cryptocurrency brings in new variables to the process, the entire ecosystem around financial technology is changing. At Ledgible, we focus on making sense of that change to our clients, allowing them to process cryptocurrency transactions and make the data legible.

However, in order to be able to effectively handle change, our robust crypto tax tools have to be based on a solid foundation. That's what we view being one of the only SOC 1 & 2 Audited crypto tax platforms as, our company's firm foundation in data security and privacy.

Our development teams continually test our systems and ensure they are up to the rigorous standards set by independent auditors.

Are you looking for a SOC 1 & 2 Crypto Tax Solution?

The Ledgible platform was designed as a professional-first crypto tax solution. While our competition has focused on the consumer cryptocurrency tax market first, here at Ledgible we understand professional tax filing and how cryptocurrency fits into this space. This is why we've spent years developing a robust crypto tax and accounting platform that integrates with all major tax and accounting products, like Thomson Reuters or Wolters Kluwer. We've also built out easy client and team management portals within our applications because we understand that filing taxes is complicated enough, the tax tools you use to do it need to be as simple and straightforward as possible.

If you're interested in the leading SOC 1 & 2 crypto tax solution, you can explore Ledgible Crypto Tax Pro here. Thanks to our flexible billing models, we allow preparers access to our tools completely free and can set up your account to where tax preparers never have to spend a dime for access to our tool. To learn more, view our page here.

About Trevor English

Trevor is a technology journalist & engineer who has made a career out of engineering and technical communication. His work has appeared on Curiosity, BBC, Interesting Engineering and other sites across the web. Originally the Chief editor for Interesting Engineering back in 2016, he now works with software & tech companies, aiding them in content marketing and technical communication. Currently living in Texas, he’s also a published children’s book author and producer for the YouTube channel Concerning Reality.

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