Papaya Global, the leading payroll and workforce management SaaS platform, announced today they successfully completed their SOC 1 Type II Audit Report. The audit was conducted by a third-party validation provider over multiple months to demonstrate the effectiveness of the Papaya Platform’s internal financial controls. The audit affirmed that Papaya Global’s payroll and workforce management platform operates with proper and effective controls in all areas that can impact the financial statements of its clients.
Papaya Global is entrusted with payroll data for tens of thousands of employees and over 800 organizations around the globe. As such, building systems to ensure the safety and privacy of their client’s sensitive data, along with implementing controls and safeguards on all its financial operations, is of utmost priority of the company. In addition to the newly obtained SOC 1 Type II report, Papaya Global sets the standard in their industry by also adhering to all standards set by GDPR, maintaining ISO27001 compliance, and holding the SOC 2 Type II report.
“Trust is the foundation of our company,” says Eynat Guez, CEO and Co-Founder of Papaya Global. “We lead the market in delivering the most robust and innovative payroll platform while also providing our customers with unparalleled transparency. Completing the SOC 1 Type II audit verifies this commitment and enables us to deliver the solutions our clients need, while providing them with the confidence that their financial data is secure.”
SOC is a set of guidelines generated by the American Institute of Certified Public Accountants (AICPA) and developed to ensure security, availability, confidentiality, and process integrity of financial organizations. When Papaya Global received the final report, there were no comments or deviations to report, indicating that all audited systems were proven effective – a rare accomplishment for any company who undergoes the audit.
“Completing this examination was a rigorous and welcomed process,” says Inbal Aviad, Chief Legal and Compliance Officer at Papaya Global. “This highly regarded reporting provides our clients peace of mind that their data is secure and that we maintain effective internal controls and safeguards, a true accomplishment.”
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