BIPO Completes SOC 1 Type II and SOC 2 Type II Audit Reports

Leading global payroll and people solutions provider BIPO today announced the completion of Service and Organisation Controls or SOC 1 Type II and SOC 2 Type II audit reports.

Conducted by an independent third-party auditor, EY a global Service Organization Controls Reporting (SOCR) leader, the certifications are part of the group’s commitment to implementing safeguards and security controls for its proprietary Human Capital Management (HCM) solutions suite.

Trusted by over 4,000 organisations, BIPO’s award-winning payroll and HR solutions are a testament to the group’s priority in ensuring its HCM platform adheres to stringent control and protocols related to availability, confidentiality, security, privacy, and processing integrity. These measures result from significant investment in resources, technology, and cybersecurity.

Michael Chen, CEO of BIPO, shared, “At BIPO, integrity and trust are the foundation of our values and guiding principles”. He added, “As market leaders in payroll and HR solutions, we believe in providing the best-in-class employee experience, delivered by our robust, cloud-native HCM platform that offers transparency and unparalleled efficiency.

“The SOC audit reports validate BIPO’s efforts and dedication to continuously improving our security practices aligned with industry standards and best practices”, shared Derick Teo, BIPO’s Head of IT, Security and Compliance.

System and Organization Controls (SOC) is a voluntary compliance standard developed by the American Institute of Certified Public Accountants (AICPA). SOC audits independently assess the risks associated with using service organisations and other third parties.

The SOC 1 report recognises BIPO’s outsourcing and proprietary HCM suite, ensuring these solutions operate effectively in all aspects impacting clients’ internal financial reporting controls. In addition, tests conducted ensure these meet the identified objectives.

The SOC 2 report evaluates BIPO’s controls for protecting customer data in security, processing integrity, confidentiality, and privacy. In addition, the Type II audit report assures that BIPO’s systems and controls are reliable and secure. BIPO’s control objectives are suitably designed and operate effectively to provide reasonable assurance based on the audit period 1 October 2021 to 30 September 2022.

These certifications mark a long list of industry awards and accolades for BIPO, including its recent recognition as a major contender in Everest Group’s Multi-country Payroll (MCP) Solutions PEAK Matrix® Assessment 2022 for Asia Pacific.

Learn more about how BIPO’s security and privacy policies and cloud-native Human Capital Management solutions support organisations to meet the demands of managing today’s global workforce.