Data Gumbo Successfully Completes SOC 1 Type 1 Audit for Platform Security

The SOC 1 report focuses on a service organization's controls likely to be relevant to an audit of a customers financial statements.

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Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Monday, June 17, 2019
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Tags: 
Energy, Oil, Gas, Technology, Data management, Networks, Software, Security, Professional services, Accounting, Financial statements, Auditing, Audit, Business, Information technology audit, Service industries, Corporate governance
Geotags: 
United States, Texas
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Summary
Key Points: 
  • The SOC 1 report focuses on a service organization's controls likely to be relevant to an audit of a customers financial statements.
  • Data Gumbo retained Grant Thornton , one of the worlds leading organizations of independent audit, tax, and advisory firms, to perform its SOC 1 work.
  • As part of the audit completion, Data Gumbo received an unqualified opinion from Grant Thornton that its procedures and infrastructure meet or exceed the SOC 1 Type 1 criteria.
  • Completion of this important control audit of the platform reinforces our steadfast commitment to protecting our customers important information and data, said Andrew Bruce, Chief Executive Officer of Data Gumbo.


Data
Gumbo Corp., a Houston-based technology company that has developed a
Blockchain-as-a-Service (BaaS) platform to streamline smart contracts
management for industrial customers, today announced successful
completion of the SOC 1 Type1 audit examination of its blockchain. The
SOC 1 report focuses on a service organization's controls likely to be
relevant to an audit of a customer’s financial statements. Data Gumbo
retained Grant
Thornton, one of the world’s leading organizations of independent
audit, tax, and advisory firms, to perform its SOC 1 work.

Grant Thornton’s testing of Data Gumbo’s blockchain included examination
of Data Gumbo’s platform for smart contract set up, maintenance and
execution, providing assurance the appropriate control environment is in
place. As part of the audit completion, Data Gumbo received an
unqualified opinion from Grant Thornton that its procedures and
infrastructure meet or exceed the SOC 1 Type 1 criteria.

“Completion of this important control audit of the platform reinforces
our steadfast commitment to protecting our customers’ important
information and data,” said Andrew Bruce, Chief Executive Officer of
Data Gumbo.

Grant Thornton’s SOC engagement was conducted in accordance with
attestation standards established by the American Institute of Certified
Public Accountants (AICPA). Those standards require that an independent
audit firm performs the examination to obtain reasonable assurance about
whether, in all material respects, based on the criteria in management’s
assertion, that the controls were suitably designed to provide assurance
that Data Gumbo’s Platform is administered in accordance with Data
Gumbo’s policies and procedures.

About Data Gumbo

Data Gumbo is the Blockchain-as-a-Service (BaaS) company creating a
massively interconnected blockchain network for industrial companies,
including oil and gas. The company is headquartered in Houston, Texas,
and Data Gumbo AS is a subsidiary with offices in Stavanger, Norway. The
company was named Most Promising Energy and Clean Technology Company at
the 16th Annual Energy & Clean Technology Venture Forum in 2018. For
more information, visit www.datagumbo.com,
and follow on LinkedIn,
Twitter @DataGumbo,
and Facebook.

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