W Energy Software, the emerging leader in upstream and midstream oil & gas ERP solutions announced that it has successfully completed a System and Organization Controls (SOC) 2® Type II Audit examination for their Financial and Transaction Management Software System. W Energy Software retained international business advisory firm Skoda Minotti for its SOC 2® audit work. W Energy Software selected Skoda Minotti after an intensive search based on its reputation as a leading risk advisory and compliance firm.
Ben Osbrach, CISSP, CISA, QSA, CICP, CCSFP, partner-in-charge of Skoda Minotti’s risk advisory group says, “We were excited to continue our audit relationship with W Energy Software on the completion of their 2019 SOC 2 Type II. Michael and his team strive for improvement in their controls year over year; taking their responsibility for maintaining a well-controlled and secured environment seriously.”
SOC 2® engagements are performed in accordance with the American Institute of Certified Public Accountants’ (AICPA) AT-C 205, Reporting on Controls at a Service Organization and based on the trust service principles outlined in the AICPA Guide, Reporting on Controls at a Service Organization Relevant to Security, Availability, Processing Integrity, Confidentiality, or Privacy. The SOC 2® Type II report is performed by an independent auditing firm and is intended to provide an understanding of the service organization’s suitability of the design and operating effectiveness of its internal controls. A service organization may select any or all of the trust service principles applicable to its business and W Energy Software chose to report on security and availability. The successful completion of this voluntary engagement illustrates W Energy Software’s ongoing commitment to create and maintain a secure operating environment for its clients’ confidential data.
Skoda Minotti’s testing of W Energy Software’s controls included an examination of their policies and procedures regarding network connectivity, firewall configurations, systems development life cycle, computer operations, logical access, data transmission, backup, and disaster recovery, and other critical operational areas of their business. Upon completion of the audit, Waterfield received a Service Auditor’s Report with an unqualified opinion demonstrating that their policies, procedures, and infrastructure meet or exceed the stringent SOC 2® criteria.
“The successful completion of our SOC 2® Type II examination audit provides W Energy Software’s clients with the assurance that the controls and safeguards we employ to protect and secure their data are in line with industry standards and best practices.”
-Michael Tetzlaff, Chief Financial Officer of W Energy Software
About W Energy Software
Headquartered in Tulsa, Oklahoma, W Energy Software (formerly Waterfield Energy) offers the oil & gas industry’s only unified ERP solution built for the cloud that is relied on by more than 100 upstream and midstream companies to accelerate business performance, improve operational efficiency, and drive costs down. W Energy Software combines precision-built software in one extendable cloud-based workspace with an intimate understanding of the oil & gas business to deliver solutions that offer flexibility, affordability, and continuous upgrades. Unlike other ERP software that loosely ties together a mix of legacy solutions and fragmented technologies, W Energy Software designed a unified upstream and midstream ERP platform to seamlessly track oil, gas, and NGL from the wellhead through transportation and marketing, eliminating data silos as well as the burden and costs of maintaining multiple systems. With W Energy Software, oil & gas companies stay lean and agile with the tools they need to adapt to market changes and meet evolving customer needs head-on, all while gaining the confidence that their business is running on the latest technology. For more information, please visit https://wenergysoftware.com.
About Skoda Minotti
Skoda Minotti is a Certified Public Accounting Firm based in Cleveland, OH offering a variety of tax, finance, and business advisory services in virtually every area of business. The Risk Advisory practice specializes in SOC Reporting, PCI DSS Compliance, HIPAA Compliance and HITRUST validation, FISMA, NIST, ISO 27001, Vulnerability and Penetration Testing, and other regulatory information security assessments. Staffs in Skoda Minotti’s Risk Advisory hold several industry certifications including Certified Information Systems Auditor (CISA), Certified Information Systems Security Professional (CISSP), Qualified Security Assessor (QSA), GIAC Penetration Tester (GPEN), and GIAC Web Application Penetration Tester (GWAPT). For more information about Skoda Minotti’s Risk Advisory Services, please visit skodaminotti.com/risk.