Beanstream successfully completes SSAE 16 Type 2 audit
Beanstream successfully completes SSAE 16 Type 2 audit
On June 28, 2012: Beanstream Internet Commerce successfully completed a Statement on Standards for Attestation Engagements (SSAE) No. 16 Type 2 audit. Assessed by auditors from Auditwerx, an international provider of assurance and compliance services, this compliance standard is a validation of Beanstream’s commitment to hold to the highest industry standards for data protection and network security.
“SSAE 16 is the gold standard for reporting on a company’s control systems,” says Craig Thomson, President of Beanstream. “What it means is that our reporting systems and operations have been independently audited as being at the highest level. Beanstream’s 13,000 ecommerce customers across North America have complete confidence that their financial data is safe and secure.”
The SSAE 16 standard supersedes the older SAS 70 standard. The type 2 specification validates not just that the appropriate operational controls are in place, but that they have been effectively employed over the audit period.
“The audit is extremely rigorous. Including policy documents and samples of effective control use, literally hundreds of items were provided to auditors for review,” says Gord Hooker, Director of Information Security. “But successfully achieving the SSAE 16 Type 2 standard provides another level of assurance for our customers that Beanstream operates at the highest level of excellence, providing consistency, reliability, and security.”
“An added benefit for our customers is lowered compliance costs for all their online transactions,” says Thomson. “This is particularly helpful for smaller merchants looking to get into online transactions of one kind or another, who need to work with a recognized player the major financial institutions trust, like Beanstream.”
The SSAE 16 audit joins a suite of internationally-recognized security standards achieved by Beanstream, including Payment Card Industry Level 1 (the highest level), the Canadian Standard on Assurance Engagement 3416, and the International Standard on Assurance Engagements 3402.
For more information, please contact:
Craig Thomson
President
Beanstream Internet Commerce
250-483-0006
About Beanstream
Beanstream is an advanced technology company serving the e-commerce sector. We facilitate all kinds of electronic transactions by providing the online payment technology to securely link customers, merchants and financial institutions. For 12 years Beanstream has helped big and little merchants across North America achieve their maximum e-commerce potential (you probably know our clients). Beanstream has offices in Victoria and Vancouver, British Columbia, and Wichita, Kansas.