SOC 1 Reports Help to Ensure Regulatory

An accomplished legal executive based in Minnetonka, Minnesota, Jamie Hurewitz leverages nearly two decades of legal experience in the technology field to serve as head of legal at Mattermost. Jamie Hurewitz has extensive expertise guiding businesses through mergers and acquisitions, as well as overseeing all aspects of compliance.

Service Organization Controls (SOC) reports are a compliance mechanism that enable businesses to prove their service delivery and control competence to customers. Among these reports, the SOC 1 is required for certain B2B companies that function as service providers. Examples of these businesses include data centers, software-as-a-service providers, and payroll processing businesses.

SOC 1 is crucial because it helps a business ascertain as well as prove that the financial data of its clients is protected. It also supports the internal control over financial reporting process for the business. An SOC 1 report is prepared on behalf of a company by a third party, which must be a certified public accountant. The report is then scrutinized by a financial statement auditor when evaluating the business for compliance with certain regulations, like the Sarbanes-Oxley Act, which mandates penalties for fraudulent financial reporting.

The Minnesota State Bar Foundation

A tech and intellectual property lawyer, Jamie Hurewitz is the head of legal at Mattermost in Palo Alto, California. Licensed to practice law in Minnesota, Jamie Hurewitz is a member of the Minnesota State Bar Association (MSBA).

MSBA is the oldest professional organization for attorneys in Minnesota. The organization aims to champion justice, equality, and professionalism in the legal space. The Minnesota State Bar Association has a variety of resources and avenues through which it takes care of the professional needs of its members and works to advance the interests of the public. One of such avenue is the Minnesota State Bar Foundation, which MSBA created in 1932.

The Minnesota State Bar Foundation provides monetary grants to law-related and community programs and activities. The foundation offers legal assistance to people who are disadvantaged, and it tries to improve the legal profession’s vitality and the administration of justice. Fundamentally, the foundation's mission is to enable all Minnesotans to have access to justice. From June 2018 to June 2019, the foundation presented $92,500 in grants to 39 nonprofit organizations in Minnesota.

Trends in Corporate Governance & Compliance

Jamie Hurewitz received her MBA management at the University of St. Thomas and a BS in business administration at DePaul University. She also received a JD from Hamline University School of Law. Jamie is presently working towards an LLM in securities and financial regulations at Georgetown University Law Center, and is the head of legal at Mattermost in Palo Alto. Her expertise areas include risk mitigation, governance, and compliance.

Corporate governance and compliance trends across regions vary somewhat, but globally, corporations are experiencing similar changes.

Virtual Meetings

In 2020, as corporations rushed to transform their annual meetings into virtual events, corporate boards too have shifted to virtual ones from in-person meetings. As the virtual environment takes hold in daily lives, many are exploring how they can permanently maximize the associated efficiencies of such trends in the post-pandemic era.

Focus on social agenda

Within the broader framework of environmental, social, and governance (ESG), the Covid-19 pandemic has forced the “social” factor to higher up the corporate governance agenda. Companies seek to reassure stakeholders and the general public that they are taking worker and community safety seriously.

Social Media Governance

The internet and social media have led to faster and more disclosure of corporate malpractices, exposing improper or unethical behavior. Social media must focus on corporate disclosure requirements and be part of PR strategies in the years ahead.

MSBA Membership Benefits

A graduate of Hamline University School of Law, Jamie Hurewitz is the head of legal and in-house legal counsel responsible for establishing early-stage start-ups' legal and compliance infrastructure. She is experienced in scaling growth stage start-ups globally and advising on remote workforces. Besides a JD, Jamie Hurewitz has a BS from DePaul University and an MBA from the University of St. Thomas. She is a Minnesota State Bar Association member.

The oldest attorney professional association in Minnesota, the Minnesota State Bar Association (MSBA) was founded in 1883. The association is a dynamic and diverse community open to licensed attorneys in the state. MSBA membership is voluntary. The association partners with other statewide law enforcement agencies to deliver quality services to all residents of Minnesota.

Minnesota State Bar Association members work together to teach, learn, share, and advocate on issues affecting the profession at the legislature and courts. Since 1987 the association has been approved to certify lawyers as specialists. Board-certified legal specialists benefit from being listed on the MSBA website’s Specialists' Directory and earn the right to use the MSBA logos.