SOC 1

A-LIGN Continues to Assist Clients in the Title Insurance and Settlement Services Industry

By: Neil Gonsalves, Director of Assurance and Compliance Services at A-LIGN Director of Assurance and Compliance Services Director of Assurance and Compliance Services We performed one of the very first SSAE 16 examinations for a Top 10 Land Title Underwriter in the U.S. and continue to work with Title Agencies to help them with their […]

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7 New COSO Updates that Impact Your SSAE 16 Report

By: Scott Price, Managing Partner of A-LIGN The Committee of Sponsoring Organizations of the Treadway Commission (COSO) released an updated version of its “Internal Control – Integrated Framework” in May, 2013. The changes are a progressive move to align its framework with today’s business operating environment, much like the change from SAS 70 to SOC 1/SSAE […]

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Updating the SOC 1 System Description

By: Sue Wells, Senior Consultant at A-LIGN In preparation for a SOC 1 audit, a service organization’s management is required to provide a system description per the SSAE 16 auditing standards. Until recently, little guidance had been provided to assist service organization management in preparing the system description. In January 2014, the AICPA’s Information Management […]

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How Subservice Organizations Impact SSAE 16 Reports

By: Scott Price, Managing Partner of A-LIGN Determine whether your SSAE 16 Report is saving your client money or costing them! With year-end financial audits fast approaching, your clients will soon be requesting your SSAE 16 report. Why? This is because your SSAE 16 reports will allow your client’s financial auditors to determine if they need […]

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Ask A-LIGN: When receiving our first SSAE 16 audit, if the auditors find minor mistakes, will we have the opportunity to correct them?

By: Scott Price, Managing Partner of A-LIGN Answer: I hear this question often and, my answer is, “it depends.” I realize this is not the response most of you were hoping for, but I will elaborate. If your audit is a Type 1 SSAE 16, you can elect to have the review date of the report […]

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Ask A-LIGN: What is the difference between a SOC logo and a SOC seal?

By: Scott Price, Managing Partner of A-LIGN  Answer: Misuse of Service Organization Control (SOC) terminology is a common mishap in the marketplace. When it comes to the use of the SOC logo or seal, many tend to assume the terms mean the same thing (six of one, half a dozen of the other), but in reality […]

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Ask A-LIGN: Is SSAE 16 a Certification?

Answer: No, SSAE 16 is not a certification. Here’s why: It is incorrect to say that you are SSAE 16 certified, because there is not a certification awarded to you after the engagement. The appropriate wording would be to state, “we have received an unqualified (Type 1 or Type 2) SSAE 16 report as a […]

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Ask A-LIGN: Why is the SAS 70 audit still asked for? I thought it no longer existed?

Answer: Correct. The SAS 70 audit has been out of existence since June 15, 2011. Many organizations are still being asked for SAS 70, frankly, due to the fact of its nearly 20-year existence and lack of education surrounding the change of the standard. Here’s Why: Since SAS 70 has been around nearly 20 years, […]

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Ask A-LIGN: Is my Organization Required to Obtain a Type 2 SSAE 16 Examination Annually?

Answer: This is a question we are asked frequently by our clients and prospective clients, and the answer is: It Depends. Here’s why: The SSAE 16 guidance states that the period of review, or time frame that the report covers, should be at least six (6) months in the case of a Type 2 SSAE […]

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Integrated Audit of Financial Statements – Relevance of an SSAE 16 Report

  Over the many years, while I have been working with companies as their Independent Service Auditor to help issue their SAS 70s / SSAE 16 reports, I have also been on the other side of the fence wherein I was part of the team responsible for the Audit of the Financial Statements of a […]

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