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President & CEO
Video Transcript for Risk Assessment Vlog #1
There are three main reasons why we selected Kirkpatrick Price as our SOC 2 auditor: first, we were impressed by how they presented their findings and the clarity of their technical writing; second, they assured us that their intent was to both audit and guide us to become a better company; and lastly, they impressed us with their terrific tools used to perform the audit.
During our most recent SOC 2 Type II audit in late 2019, Kirkpatrick Price delivered an impressive spreadsheet that helped us with our Risk Assessment. This tool gave us dozens of broad business risk categories and scenarios to consider, including pandemics, which proved quite timely. We were able to create a Pandemic playbook and rehearse relevant business continuity drills well ahead of COVID-19’s impact on businesses worldwide.
While this spreadsheet from Kirkpatrick Price helped us leap ahead significantly in our Risk Assessment maturity, we soon realized after the first run-through of the tool that we had largely exhausted its utility. The only apparent next step was to repeat the same exercises facilitated by the tool. There is real value in regularly revisiting common risks and exploring how to better mitigate them, but we also didn’t see a fresh approach inherent in the spreadsheet for meaningful engagements over time. We formed a few meetings and started to add new columns to show a delta in our risk mitigations. Luckily, we discovered Axio360 before we went too far down this road.
I will dig further into Axio360 as a powerful Risk Assessment tool in my next video. For now, I want to give credit to how Kirkpatrick Price helped us get started on improving our Risk Assessment process. They empowered us with our first Risk Assessment tool, and once our security and leadership teams saw the power of this tool to accelerate and channel the right engagements on essential risk topics, we genuinely became a stronger company, ready to withstand business downturns and pandemics like never before.
If you would like to see the Risk Assessment tool that Kirkpatrick Price shared with us, or to take a peek at how powerful Axio360’s Risk Assessment web application is, just reach out to us and we’ll be delighted to share these with you.