Wurk Becomes First Cannabis Payroll Provider to Complete a SOC Audit
The voluntary audit validates Wurk’s secure and compliant processes to protect cannabis businesses
DENVER, CO – June 24, 2020/AxisWire/ – Wurk, the first and leading Human Capital Management company for the cannabis industry, today announced the completion of a System and Organization Controls (SOC) 1 Type 2 Audit of systematic controls by a third party CPA firm. This voluntary audit examines internal controls for accuracy, security, completeness and timeliness in onboarding, payroll, tax, ACH processing, physical and logical security as well as change and vendor management. Wurk is the first payroll provider, and only the third company in the cannabis technology industry, to complete a SOC Audit.
The audit confirms Wurk uses strong controls around client data and financial information to ensure confidentiality, reliability and scalability for purposes of financial reporting. The examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. This also enables Wurk to serve publicly traded cannabis companies whose vendor diligence requires audits from third-party CPAs.
“In a complex, highly-regulated industry like cannabis, it is crucial that you can trust partners that go above and beyond to protect sensitive data and information,” said Keegan Peterson, Founder and CEO of Wurk. “We are proud to be able to provide our clients with the peace of mind that we at Wurk have policies and processes built in to protect their businesses.”
Cannabis organizations rely on Wurk’s systems to process and store sensitive workforce, payroll and tax data. As a part of their ongoing commitment to provide the highest quality Human Capital Management platform, as well as compliant payroll solutions, Wurk leverages third parties to help strengthen their security.
Wurk allows cannabis companies to manage payroll, human resources, timekeeping, scheduling and tax compliance, and minimizes compliance risks in the ever-changing cannabis regulatory environment. The company uses its expertise and trusted partnerships to provide guidance on 280E tax law, accounting and compliant banking. Its platform is designed to scale nationally with the growth of the industry, while incorporating the local laws and regulations unique to individual states. For more information visit enjoywurk.com.