Albany, NY, October 9, 2019 – NODE40, the premier cryptocurrency cost-basis tracking company, today announced the company has successfully completed the requirements for a Service Organization Control (SOC) 1, Type I Audit covering its Balance product. The audit was undertaken by Armanino LLP.
“Completing a SOC 1 audit provides our customers and partners the assurances they need to feel confident when using the NODE40 platform,” said Perry Woodin, NODE40’s CEO. “With recent IRS enforcement efforts that have put cryptocurrency users on notice, access to tools like NODE40 Balance is more important than ever before to provide peace of mind for anyone concerned about compliance,” Woodin added.
NODE40’s SOC 1 program and reporting demonstrates a strong commitment to ensuring complete and accurate financial accounting as well as a dedication to proper information technology controls over the proprietary Balance platform.
“The process of formalizing NODE40’s internal controls was an eye opening experience that I look back on as one of the best decisions we could have made to raise both internal and external confidence in our platform,” said Sean Ryan, NODE40’s CTO.
This extensive reporting standard, also known as SSAE18 provides independent validation that NODE40’s internal control environment operates in accordance with selected key control objectives. The NODE40 SOC 1 audit was performed in accordance with the American Institute of Certified Public Accountants (AICPA) attest standards.
About NODE40: NODE40 Balance (https://www.node40.com/) is a robust cryptocurrency reporting software that integrates directly with major cryptocurrency exchanges. Individuals or businesses transacting in, trading, or mining digital currency, have likely triggered a taxable event and may be unaware of how to properly disclose these transactions to the government.
About Armanino: Armanino LLP (https://www.armaninollp.com/) is one of the 25 largest independent accounting and business consulting firms in the nation. Armanino provides an integrated set of audit, tax, business management, consulting and technology solutions to companies in the U.S. and globally. The firm helps clients adapt and change in every stage of business, from startup through rapid growth to the sale of a company. Armanino emphasizes smart technology, leading
