AUL Corp. recently completed the requirements for a Service Organization Control (SOC) 2 type II audit. Specifically targeting service firms with a focus on security, availability, processing integrity, confidentiality and privacy, AUL highlighted SOC 2 is designed to meet the demands of the vehicle service contract marketplace.

Why is SOC 2 important to AUL customers? Officials explained that a service company like AUL has to meet the stringent standards in place for a SOC 2 audit to ensure that a client’s data is well protected. AUL said it has demonstrated it has adequate controls in its data systems, technologies and processes.

AUL noted that it chose to become SOC 2 type II compliant rather than a SOC2 type I or a SOC 1 because it means controls are effective over a period of time rather than at a point in time, and it is more applicable to the VSC industry as it deals with data security rather than just financial information.

“The completion of the SOC 2 audit is another key step in the growth of AUL and verifies our commitment to our customers' data safety and security,” AUL chief operating officer Jimmy Atkinson said. “We believe that by following best practices and current regulatory guidance, we make AUL a stronger, more effective partner for our agents, dealers and contract holders.”

Atkinson went on to say that this extensive report provides independent validation that AUL's internal controls are in accordance with the selected Institute of Certified Public Accountants' trust services principles and criteria.

One of the leading independent auditors, Armanino completed the SOC 2 audit verifying that AUL's processes and systems meet all the requirements for security, availability and confidentiality. Armanino is the largest California-based CPA and consulting firm and one of the Top 10 fastest-growing large accounting firms in the nation.

“Achieving SOC 2 compliance is a major milestone for any service provider and demonstrates a significant commitment to a strong internal control environment. Obtaining a SOC2 report is a major differentiator for AUL as they look to continue growing their business,” Armanino’s Liam Collins said.

In addition to obtaining the SOC 2 certification, AUL noted that it is investing in platform enhancements to its infrastructure, adding additional layers of redundancy and increased monitoring of the entire IT platform.