The PATH Alliance, Inc. (PATH) announces it has achieved System and Organization Controls (SOC 1) Type 2 compliance, a widely recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA). Achieving this compliance demonstrates how PATH safeguards customer data and maintains effective operating controls. The examination was performed by Moss Adams, one of the largest accounting and consulting firms in the nation.
“Our customers trust us to manage large amounts of data and high-volume complex transactions and relationships, a responsibility we take very seriously,” said Jerry Laval, President of PATH. “We pride ourselves in meeting and exceeding the toughest operating effectiveness and reporting standards in the industry, and this certification is yet another testament of PATH’s commitment to providing the most secure and effective group self-insurance administration services in the market.”
The completion of the SOC 1 Type 2 examination typifies PATH’s commitment to create and maintain the most stringent controls needed to ensure the highest quality services are provided to their customers. The examination specifically reviews group administration services, financial reporting controls, customer service processes, regulatory compliance reporting and filing timeliness.
The examination and findings independently confirm PATH meets AICPA’s rigorous trust services criteria for effective internal controls and processes to insure each of these areas are accurate and managed with integrity.
“Data accuracy and security is a top priority at PATH, and we are continually implementing, monitoring, and updating our platform and processes to ensure the strictest adherence to all industry regulations, security standards, and best practices,” added Jon Wroten, Senior Vice President at PATH. “We chose to pursue the SOC 1 Type 2 audit to provide our customers with a thorough and transparent look at our process controls, giving them even more confidence in the strength of our group self-insurance administration services.”
Stay Ahead of the Financial Curve with Our Latest Fintech News Updates!