Archive: Jan 2012

Simplifying Your Audits

In today’s world of industry and governmental regulations I know it seems like there is a revolving door of auditors, assessors and examiners visiting your location. Although we know you love seeing us and can’t wait till the next team of auditors show up so you can clear your calendar…

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The Value of SOC 2

If your service organization processes customer transactions that impact financial reporting, such as payroll or other financial reporting functions, you are more than likely familiar with the SSAE 16 SOC 1 report and its predecessor the SAS 70. Your customer’s auditors request the SAS 70, now the SSAE 16, every year to fulfill your customer’s year-end financial statement audit requirements. You gladly undergo the annual SSAE 16 audit so you have the report ready for your customers each year. One SSAE16 audit is worth keeping an army of customer auditors from knocking on your door asking for the same evidence of internal controls. More than likely the SSAE 16 is also required to meet contractual obligations to your customers. So to reduce the number of audits you have to endure each year, to meeting contractual obligations and also to get an independent evaluation of your internal controls, you engaged a CPA firm to perform the SSAE 16 audit.

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