Lucasys Completes SOC 1 Type II Certification

ATLANTA, June 17, 2025 (GLOBE NEWSWIRE) -- Lucasys, a leading provider of cloud-based software and services for asset-intensive companies, today announced the successful completion of its SOC 1 Type II certification. This accomplishment highlights Lucasys’ strong commitment to maintaining effective internal controls over financial reporting and delivering dependable, audit-ready solutions to utilities and energy providers across North America.

Why SOC 1 Type II Matters
SOC 1 Type II, established by the American Institute of Certified Public Accountants (AICPA), is a critical certification for companies whose systems and services impact their clients’ financial reporting. Unlike SOC 1 Type I, which provides a snapshot of control design at a single point in time, SOC 1 Type II evaluates how those controls operate over a defined period—offering customers greater assurance of consistent performance and reliability.

For utility companies facing intense regulatory oversight, SOC 1 Type II offers confidence that Lucasys solutions align with stringent accounting and compliance standards.

A Comprehensive and Independent Assessment
The certification was completed following a thorough audit by an independent third-party CPA firm. The audit tested the design and operating effectiveness of Lucasys’ internal controls over a sustained period, including:

• The integrity of financial processes and data management
• Consistency in control execution over time
• Alignment with key requirements impacting user entities' financial statements
  

The successful outcome reinforces Lucasys’ ability to help customers meet strict regulatory and financial reporting obligations through its secure and compliant platform.

Trust Built on Transparency and Accountability
“We know that utilities and energy companies rely on Lucasys to support complex financial and tax operations that directly affect their compliance and reporting,” said Vadim Lantukh, CEO of Lucasys. “Completing our SOC 1 Type II certification demonstrates our operational discipline and our commitment to helping customers maintain confidence in their data, systems, and financial outcomes.”

Lucasys recently announced Tax Provision, its latest addition to the Lucasys Income Tax Suite. As Lucasys continues to expand its software suite designed for tax, accounting, and fixed asset professionals, the SOC 1 Type II certification underscores the company’s role as a trusted partner for its customers.

Empowering Financial Performance, Supporting Regulatory Readiness
Lucasys delivers scalable, cloud-based software and services that streamline tax reporting, improve asset management, and help finance and tax teams operate with transparency and efficiency. With deep domain expertise and a customer-first approach, Lucasys is uniquely positioned to support organizations of all sizes through the challenges of regulatory compliance and financial accuracy.

To request a copy of the SOC 1 Type II report, please contact your Lucasys representative.

Learn more at lucasys.com/solutions and follow Lucasys on LinkedIn for the latest updates.

About Lucasys
Lucasys provides software and technology-enabled services to empower finance, accounting, and tax professionals in asset-intensive industries to optimize the financial performance of their fixed assets and proactively meet changing regulatory and compliance requirements. With a core focus on rate-regulated utilities, Lucasys provides the industry and domain expertise utilities require to meet their business objectives. To learn more about Lucasys, visit https://www.lucasys.com.

Lucasys
Contact: Tommy Ferguson, CMO, Lucasys
1-844-582-2797
contact@lucasys.com

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