TEAM Software Completes Fourth SOC 1 Type 2 Audit
TEAM Software, Inc., provider of integrated software solutions for building service and security contractors, has successfully completed its fourth System and Organization Control 1 (SOC 1) Type 2 (SSAE 18) audit. The audit was completed by CyberGuard Compliance, a Public Accounting Oversight Board (PCAOB) registered and licensed public accounting firm.
“Completing the audit and receiving the Statement on Standards for Attestation Engagements (SSAE) No. 18 report provides our current and potential customers the assurance we’re handling their data and information appropriately and that we have internal controls in place to manage what matters most to them and their employees,” said Jane Schmidt, Business Solutions Manager for TEAM Software.
The SOC 1 Type 2 report is part of the American Institute of Certified Public Accountants (AICPA) reporting framework designed to provide users of outsourced services, such as the software-as-a-service (SaaS) solutions TEAM provides, with valuable information regarding any potential risks relevant to financial reporting. The report certifies that the service organization maintains the proper security measures and protocols that are compliant with SSAE 18. The audit involves an evaluation of the service organization’s internal controls over financial reporting and evaluates the organization’s ability to achieve the control objectives over a period of at least six consecutive months.
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