Achieving SOC 2 Type 2 compliance highlights College Aid Services’ commitment to the industry’s highest standards for managing customer data.
NOVEMBER 10, 2022 – College Aid Services, a higher education consulting services firm, announced today they have completed the SOC 2® Type 2 audit and are officially SOC 2® Type 2 compliant.
“Higher education institutions rely on College Aid Services to be their trusted partner. Undergoing the SOC 2® Type 2 audit and certification was essential for us as it demonstrates our ability to safeguard the privacy and security of our client’s data,” said Alex Fuentes, Executive Vice President and Chief Operating Officer.
SOC 2® is a rigorous compliance standard developed by the American Institute of CPAs (AICPA) that is designed to specify how organizations should manage customer data. As part of the certification process, College Aid Services completed a thorough SOC 2® Type 1 compliance audit on November 30, 2021, providing documentation on processes, data management infrastructure, and a progressive approach to data access permissions.
While the Type 1 audit is not a required prerequisite to Type 2, organizations like College Aid Services who complete the Type 1 first are helping to mitigate potential audit loops and timeline extensions by ensuring their compliance program design is fundamentally sound before entering the Type 2 observation period.
College Aid Services’ Type 2 observation period occurred between June 1, 2022 and October 31, 2022. The final audit report was completed on November 10, 2022.
To earn this certification, College Aid Services partnered with Laika, a compliance-as-a-service platform that helps companies manage information security and privacy compliance, obtain security certifications and build credibility with their customers.
To request a copy of College Aid Services’ SOC 2® Type 2 report, please contact finance@collegeaidservices.net.