Vistra, a global trust, fund administration and corporate services provider, announced that its International Expansion division achieved Service Organisation Control 1 and Service Organisation Control 2 accreditations from an independent auditor.
The accreditations are part of the reporting platform of the American Institute of Certified Public Accountants, offering independent assurance that a service provider’s practices meet the oversight levels required for securely processing and storing customer data for both financial and non-financial reporting purposes.
Vistra’s SOC 1 accreditation examines the key financial and IT controls at Vistra’s India-based centres of excellence. The two facilities have more than 600 combined employees who provide payroll, payment of employee expenses and vendor invoices, tax preparation and payment, and monthly management account production. This is the eighth consecutive year the centres have achieved a clean SOC 1 report.
The SOC 2 accreditation applies to Vistra’s cloud-based OverseasConnect platform. OverseasConnect is used by finance, legal and human resources personnel to manage payroll, accounting, expense reporting and other functions in multiple countries. The SOC 2 report provides third-party assurance about the suitability and operating effectiveness of internal controls related to security, availability, processing integrity and confidentiality.