By LeaseCrunch® on Nov 16, 2022 2:00:00 PM
Company shows continued commitment to security and processing integrity
LeaseCrunch LLC, a leading accounting software company, is proud to announce the successful completion of System and Organization Controls (SOC) 1 and SOC 2 reports by business advisory services firm Marcum LLP.
“After our initial reports in 2018, we have continued to complete the SOC 1 Type II and SOC 2 Type II reports every year. These reports show our commitment to providing our clients the confidence they need for their financial reporting accuracy and that we have industry standard and best-practice internal controls and safeguards to protect their data,” says Ane Ohm, CEO. “Our goal is to provide the best software for our clients, and these reports are one step in that process.”
SOC 1 engagements are performed in accordance with the American Institute of Certified Public Accountants’ AT-C section 320, Reporting on an Examination of Controls at a Service Organization Relevant to User Entities’ Internal Control Over Financial Reporting, and are specifically intended to meet the needs of entities that use service organizations (user entities) and the CPAs that audit the user entities’ financial statements (user auditors) in evaluating the effect of the controls at the service organization on the user entities’ financial statements.
SOC 2 engagements are performed in accordance with the AICPA’s AT-C 205, Reporting on Controls at a Service Organization, and are based on the trust service principles outlined in the AICPA Guide, Reporting on Controls at a Service Organization Relevant to Security, Availability, Processing Integrity, Confidentiality, or Privacy.
LeaseCrunch is built for CPA firms and is the easiest lease accounting solution on the market, reducing the time it takes clients to prepare for an audit and CPA firms to perform the audit. It maintains accuracy even as lease inputs change. With LeaseCrunch’s step-by-step wizards, worry-free calculations and automated quantitative footnote disclosures, firms can be confident their clients are compliant with the requirements of the new lease standard.