Lukka, a blockchain-native technology company, has become the first software provider in the crypto asset ecosystem to receive both Service Organization Control (SOC) 1 Type 2 and SOC 2 Type 2 attestation reports. Lukka’s SOC reports were delivered in January 2020 and cover testing periods in 2019. The reports were issued by Friedman LLP, a leading accounting and advisory firm headquartered in New York City.
The SOC 1 Type 2 and SOC 2 Type 2 reports, both of which examined and tested Lukka’s policies, procedures, and controls provide customers and their auditors assurance related to the processing of crypto transactional data into auditable information for tax, accounting, and regulatory reporting purposes.
Lukka worked with an independent auditor to produce these reports – which requires examination periods sufficient to satisfy the independent service auditor’s professional standards for testing operational effectiveness (e.g., at least six months for a SOC 1 Type 2 report) – because many of Lukka’s customers can only purchase solutions from software and data vendors who have received Type 2 attestation reports specifically.
“As millions of new consumers, CPA Firms and Sole Proprietors prepare for the upcoming tax preparation and reporting season, it’s important to select crypto tax tools that have been tested by an independent and leading accounting firm such as Friedman,” said Jake Benson Founder and CEO of Lukka. “In response to the demand this tax season, Lukka is excited to have launched a new product for CPAs, LukkaTax For Professionals, in January of this year. As the only crypto tax reporting solution provider in the world with both SOC 1 Type 2 and SOC 2 Type 2 attestation reports, we believe Lukka uniquely provides its customers the assurances required to trust the reporting produced by our solutions – a critical differentiator as individuals and accountants prepare to complete 2019 tax returns.”
Friedman Friedman LLP is a nationally ranked accounting firm with a dedicated practice providing digital asset and cryptocurrency services to both domestic and international clients. Friedman’s expertise enables digital asset and distributed ledger technology companies, from start-ups to mature businesses, to innovate and create—knowing that their accounting, reporting, internal controls, tax optimization and tax governance as well as tax compliance requirements are properly managed and assessed.
Founded in 2014, Lukka is a trusted, blockchain-native technology company that delivers leading products for the crypto asset ecosystem. Lukka’s products automate and optimize accounting, audit, and tax processes for consumers, investors, funds, fund administrators, OTC and proprietary trading firms, exchanges, miners, protocols, and accounting firms. Long the trusted choice for institutions, Lukka is also the preferred partner solution of CPA.com.
Most recently, Lukka and CPA.com jointly released LukkaTax For Professionals to support CPAs with the complexities of crypto during this tax season. Lukka’s premier solutions enable the transformation of distributed and decentralized data into auditable information within a highly scalable and secure SOC 1 Type 2 / SOC 2 Type 2 infrastructure. Lukka is based in New York City.