We are excited to announce that Foreman has chosen Aprio Accounting for our 2024 SOC (System and Organization Controls) compliance audits and ISO 27001 certification.
Three key goals drive this switch. First, we seek the expertise of a top 20 US public auditing firm well-versed in the Bitcoin mining industry. Second, we aim to align with the Public Company Accounting Oversight Board (PCAOB), which oversees auditors of publicly traded companies. Third, we strive to create a robust and scalable system control framework tied to our SOC compliance. This strategic shift underscores Foreman's dedication to achieving compliance and operational security excellence.
As Foreman embarks on a trajectory of significant growth, navigating through our industry's unique challenges comes into focus. This realization is driven by an understanding that success in our market demands more than standard accounting expertise. In steps Aprio, who first issued a crypto-specific SOC report in 2019 and has been a leading provider of crypto accounting solutions ever since. We consider the partnership with Aprio a fundamental aspect of Foreman's strategy, positioning us to take on innovative roles in different industries.
Several of our clients have gone through PCAOB audits as a prerequisite for becoming a publicly traded entity, so Foreman deemed it crucial to comply with the ASB (Auditing Standards Board) guidelines and ensure alignment with the PCAOB moving forward. The PCAOB champions transparency and honesty in financial disclosures; principles that Foreman deeply upholds.
Creating a scalable system control framework tied to SOC compliance involves developing a comprehensive and adaptable structure to manage and secure organizational systems, data, and processes. The design of this framework needs to evolve with the company's growth while working within the changing regulatory landscape. With Aprio's expertise, we eagerly anticipate crafting a system control framework that surpasses industry standards.
This collaboration marks a pivotal step in our commitment to delivering excellence, ensuring the utmost security, and upholding the highest standards of compliance. Together with Aprio, we anticipate setting new benchmarks in regulatory requirements.
