WolfePak News

WolfePak Software Successfully Completes SOC 1, Type II Audit

Posted: 12/14/2018

WolfePak Software Successfully Completes SOC 1, Type II Audit
Independent Audit Verifies WolfePak Software’s Internal Controls and Processes

ABILENE, Texas, December 13, 2018 - WolfePak Software, a leading provider of accounting, regulatory compliance and automation software to the upstream and midstream oil and gas industry announced today the successful completion of its SOC 1, Type II audit.

Formerly known as SAS 70 and SSAE 16, the SOC 1 Type II examination is a recognized compliance and controls standard from AICPA and is used by service providers across the financial industry. WolfePak’s examination included a review of controls over technology, information, financial processes, security and other protected data. Eide Bailly LLP, one of the top 25 accounting firms in the country, conducted the audit which reviewed the design of controls and operating effectiveness of the identified key control areas.

“Our customers rely on WolfePak to keep their critical oil and gas ERP data available and secure.  By completing the SOC 1 Type II audit, WolfePak confirms that we not only have the necessary internal controls and processes in place to meet this responsibility, but that we are committed to continuous improvement,” said Brent Rhymes, CEO of WolfePak.

As part of the requirements, WolfePak provided a thorough description of its proprietary technologies and processes as well as described the suitability of the controls WolfePak has in place to ensure it achieves its objectives for data confidentiality, integrity and availability. The verified report is an important component that users enlist to evaluate internal controls for purposes of complying with laws and regulations such as SOX (Sarbanes Oxley Act). Auditors for the user organization also utilize the certification to plan and perform audits of the user organization’s financial statements. The successful completion of this examination illustrates WolfePak Software’s commitment to ensure a secure, safe operating environment for data processed for financial reporting.

Eric Pulse, Principal, Director of Risk Advisory Services with Eide Bailly LLP added, “WolfePak has implemented best practice controls demanded by their customers to address information security and compliance risks in its WolfePak ERP environment. Our third-party opinion validates these controls and the tests we perform provide assurance regarding the managed solutions provided by WolfePak.”

About WolfePak Software
WolfePak Software offers a fully integrated suite of software products for oil and gas upstream and midstream customers, including exploration and production well operators, crude oil purchasers, transporters, haulers, investors, CPA firms and service companies.  Located in Abilene, deep in the heart of the Texas oil patch, WolfePak serves customers throughout the United States and the world. With its staff of experienced software developers, CPAs and oil and gas professionals, WolfePak has provided best-of-breed accounting and automation software and services since 1986. For more information, please visit www.wolfepak.com.