The virtual asset space is developing at an astonishing rate. A technology that barely existed over a decade ago is now arguably spawning one of the greatest financial revolutions of our age—introducing countless innovative and never-before-seen products, services and business models. But just as it’s hard to deny the tremendous potential this technology has to offer, it’s difficult to ignore its associated risks—whether perceived or otherwise.
While the world made tremendous progress in 2018 from a virtual asset regulation and risk management perspective—incorporating the industry into existing and new regulatory and risk management frameworks—there is still a way to go. With no formally-enacted regulatory requirements or guidelines in place in Canada, virtual asset risk management is still a best practice undertaking—which means companies must take it upon themselves to ensure they’re doing what it takes to protect the best interests of their customers.
To do this, they must look more critically—and thoroughly—
at their internal control structures. One way of doing this is through undertaking a System and Organization Controls (SOC) attestation engagement.
Download the full guide to learn more about obtaining a System and Organization Control (SOC) attestation report [ 166 kb ]