+Contact: Alice Sowerby<alice@freebsdfoundation.org>
+
+The project began in Q2 of 2024 and was funded by Alpha Omega with a budget of $137,500, which was used over about six months and is now complete.
+The focus was on conducting a code audit for key subsystems, bhyve and Capsicum, as well as performing a security audit of the development process.
+The funds were used to hire a specialist offensive security firm to perform the code audit, to contract developers to address issues found, and for Foundation staff's work on both audits.
+
+Q4 update +
+The project is complete.
+
+The Code Audit and link:https://freebsdfoundation.org/wp-content/uploads/2024/11/2024_Code_Audit_Capsicum_Bhyve_FreeBSD_Foundation.pdf[subsequent reports] were released after the related Security Advisories were published.
+
+The Process Audit is complete.
+It was created by FreeBSD Foundation staff who ran an outreach exercise to gather information about the current FreeBSD development process.
+The teams consulted were: Security Team, Source Management Team, Cluster Administrators, Release Engineering Team.
+
+Information was gathered through an online long-form survey which was structured around existing frameworks for analysing security in software development.
+Teams were asked to describe current development processes and appraise the current security practices, as well as to make suggestions for improvements.
+
+The responses were collated and synthesised into the report by Foundation staff.
+The report was reviewed for accuracy by the original respondents.
+
+The report will now be made available to the Security Team and other teams previously mentioned, as well as to the Foundation executive team.
+This will be a useful tool in identifying areas for investment and prioritisation going forward as more security projects are planned and funded.
+
+The report is intended primarily for FreeBSD Project and Foundation planning purposes and as such there is no plan to promote it to an external audience.
+Interested readers should contact the Security Team to request a copy of the report.
+
+To learn about the project, and to see historical monthly updates visit: link:https://github.com/ossf/alpha-omega/tree/main/alpha/engagements/2024/FreeBSD[].