As a rule, one should never trust closed source cryptography software, but encrypting external drives and Time Machine backups has become quite convenient in Mac OS X Lion. Is that specific code available anyplace? Or has anyone audited it seriously?
MacOS – Are there any public audits of the disk level encryption in Mac OS X Lion
encryptionmacos
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Best Answer
According to a public talk by Rich Trouton, FileVault 2 is not FIPS 140-2 validated, but "Apple's new Common Crypto implementation is just starting to undergo FIPS evaluation"
The code itself for Common Crypto is available at http://www.opensource.apple.com/ and has been all the way back to 10.4 (where I got tired of checking revisions - it probably goes back even further, but what matters is the code shipped in Lion which is available for all three lion releases 10.7, 10.7.1 and 10.7.2)