The successful completion of this audit is a testament to CPT Group’s integrity, accountability, and its commitment to its clients.
Irvine, CA (PRWEB) August 20, 2012
CPT Group, Inc. has announced the successful completion of its first SSAE 16 (SOC 1) audit. Founded in 1984, CPT Group is a leading provider of notice and settlement class action administration services and has been appointed as the third party administrator by all major courts in the State of California and numerous United States District Courts. Appointed by the courts to assume full responsibility of claims management, noticing, disbursement and other time-critical mailings, clients have trusted CPT Group to bring experience, expertise and proven excellence to settlement administration. Regardless of size and complexity, they offer a range of class action administration services for developing, managing and executing all stages of integrated settlement plans – from first contact through final closure. With their dedicated staff, they will always handle your case professionally and with ease, on time and within your budget.
“CPT Group’s focus on strong internal controls over financial reporting is evident in this report,” says Jim Jimenez, Managing Partner at SSAE 16 Professionals, LLP. “The successful completion of this audit is a testament to CPT Group’s integrity, accountability, and its commitment to its clients.”
The audit undergone by CPT Group was conducted in accordance with the AICPA SOC reporting standards. The audit was conducted by SSAE 16 Professionals, LLP, a full service accounting firm providing SSAE 16 (SOC 1) audits, SOC 2 audits, and other IT compliance audits. SSAE 16 Professionals, LLP evaluated CPT Group's design effectiveness of internal controls and processes related to internal controls over financial reporting.
About SSAE 16 (SOC 1) Reports
SSAE 16 reports, also known as SSAE 16 reports, also known as Service Organization Control (SOC) 1 reports, which have effectively replaced SAS 70 reports and are in accordance with Statement on Standards for Attestation Engagements (SSAE) No. 16, Reporting on Controls at a Service Organization. SOC 1 reports retain the original purpose of SAS 70 by providing a means of reporting on the system of internal control for purposes of complying with internal control over financial reporting. SOC 1 reports are restricted use reports for the following areas:
- Management of the service organization (the company who has the SOC 1 performed)
- User entities of the service organization (service organization’s clients), and
- The user entities’ financial auditors (user auditor). The report can assist the user entities’ financial auditors with laws and regulations such as the Sarbanes-Oxley Act. A SOC 1 enables the user auditor to perform risk assessment procedures, and if a Type II report is performed, to assess the risk of material misstatement of financial statement assertions affected by the service organization’s processing
About CPT Group
Founded on the principles of a strong work ethic and the understanding that good customer service is the lifeblood of any business, CPT Group, Inc. has built a reputation throughout the legal community for dedicated service, experience and expertise. CPT Group provides comprehensive class action settlement administration services including:
- Settlement Notification
- Claims Processing
- Settlement Fund Administration
- Class Certification Notification
- Electronic Notification
- Data Analysis
- Secure Data Management
- Secure Data Reporting
- Bilingual Call Center
- In-House Print & Mail House
- NCOA & Skip Tracing
- Publication & Media Campaigns
- Website Hosting
- Website Design
For more information, please visit http://www.CPTGroup.com.
About SSAE 16 Professionals, LLP
SSAE 16 Professionals, LLP is one of the nation’s leading firms specializing solely in SSAE 16 (SOC 1) audits, IT compliance audits, and readiness assessments. Each of our professionals has over 10 years of relevant experience at “Big 4” and other large international or regional accounting firms. Each professional is certified as a CPA (Certified Public Accountant), CISA (Certified Information Systems Auditor), CIA (Certified Internal Auditor), CISSP (Certified Information Systems Security Professional), and/or MBA (Master of Business Administration). For more information, please visit http://www.SSAE16Professionals.com.