In the News: LeaseCrunch® Announces Successful Completion of System and Organization Controls (SOC) 2® Type II Audit Examination

Nov 13, 2019 2:52:33 PM / by LeaseCrunch® posted in LeaseCrunch®, New Lease Standard

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MILWAUKEE, November 13, 2019 – LeaseCrunch, the only lease accounting software made by former CPA firm auditors for CPA firm auditors, today announced the successful completion of a System and Organization Controls (SOC) 2® Type II Audit examination.

 

“Our clients rightfully demand a software solution that has strong controls in place around security and calculation accuracy,” said Ane Ohm, LeaseCrunch Co-Founder and CEO.  “We are happy to go through the effort involved in this SOC 2 Type II examination to demonstrate our commitment to software excellence.”

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In the News: The “elephant in the room” is improperly recorded ASC 840 leases at public companies

Nov 11, 2019 1:58:04 PM / by LeaseCrunch® posted in LeaseCrunch®, New Lease Standard

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MILWAUKEE, November 11, 2019 – LeaseCrunch, the only lease accounting software made by former CPA firm auditors for CPA firm auditors, says that improperly recorded ASC 840 leases by public companies is the biggest takeaway no one’s talking about from the new lease standard. 

“In working with public organizations who have implemented the new lease standard, no one is talking about this one important reality,” said Ane Ohm, CEO of LeaseCrunch. “Many organizations did not properly record leases under ASC 840, the predecessor to the new lease standard, and this complicates their implementation for the new lease standard, which is ASC 842.”

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In the News: Private Companies Have Another Year To Deal With New Lease Accounting Standards, And They'll Probably Need It

Nov 4, 2019 1:53:41 PM / by Ane Ohm posted in LeaseCrunch®, New Lease Standard

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Another complicating factor is that the concept of materiality — whether a lease is big enough to be considered a material liability — comes into play when dealing with operating leases.

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