NASHVILLE, TN–(Marketwired – May 12, 2015) – LbGlobalLaw is proud to announce receipt of its Service Organization Control (SOC) 2 Type II and SOC 3 attestation report, prepared by Princeton Audit Group. The report provides independent validation that the company’s internal controls are in accordance with the American Institute of Certified Public Accountants (AICPA) Applicable Trust Services Principles and Criteria.
LbGlobalLaw’s mission is to provide legal spend management software and services to corporate legal, risk and claims professionals with the highest level of security, availability, processing integrity and confidentiality. The SOC 2 and SOC 3 engagement reports clearly demonstrate that data security and privacy is of paramount importance to LbGlobalLaw.
The following principles and related criteria have been developed by the American Institute of CPAs (AICPA) and the Canadian Institute of Chartered Accountants (CICA) for use by practitioners in the performance of trust services engagements:
- Security. The system is protected against unauthorized access (both physical and logical).
- Availability. The system is available for operation and use as committed or agreed.
- Processing integrity. System processing is complete, accurate, timely and authorized.
- Confidentiality. Information designated as confidential is protected as committed or agreed.
- Privacy. Personal information is collected, used, retained, disclosed and destroyed in conformity with the commitments in the entity’s privacy notice and with criteria set forth in generally accepted privacy principles issued by the AICPA and CICA.
SOC 2 reports focus on controls that do not impact the internal controls over financial reporting, but are instead relevant to the security, availability, or processing integrity of a system or the confidentiality or privacy of the information processed. SOC 3 reports are designed to meet the needs of users who want assurance on the controls at a service organization related to security, availability, or processing integrity of a system. Together, these SOC reports represent the next generation of AICPA standards for reporting on controls over security and availability at service organizations in the United States.
LbGlobalLaw is a next generation legal spend management solutions provider focused on developing legal matter and spend management software, and delivering legal spend management services to corporate legal departments in the US and Europe. LbGlobalLaw is able to address matter management, e-billing and spend management software needs with the ability to add the human element when needed. From fully automated legal e-billing, to legal spend analytics, outside counsel management services, and everything in between, LbGL picks up where traditional legal spend management providers leave off.
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