There is an increasing need for service companies to provide assurance to their customers of the controls used in financial reporting, system security, processing integrity, and privacy.
Chicago, IL (PRWEB) March 07, 2012
Baker Tilly Virchow Krause (Baker Tilly) has published an educational whitepaper addressing the Service Organization Controls (SOC) reporting framework and Statement on Standards for Attestation Engagements (SSAE) No. 16.
“This whitepaper will help service organizations understand the new SOC reports and determine which one is right for their company in clearly articulating internal controls to their user organizations,” said Christine Anderson, CPA, CITP, Partner and Leader of the Financial Services Practice at Baker Tilly.
“There is an increasing need for service companies to provide assurance to their customers of the controls used in financial reporting, system security, processing integrity, and privacy,” said Tom Wojcinski, CISA, CRISC, Senior Manager with the Management Consulting Practice at Baker Tilly. “The three SOC reports discussed in this whitepaper meet that growing need.”
The SOC reporting whitepaper is available on the Baker Tilly website and includes information on the following:
- SOC 1 reports, which are created using the SSAE 16 standard – a replacement for Statement on Auditing Standards 70 (SAS 70)
- SOC 2 and SOC 3 reports
- Key differences between the three reports
The firm is currently offering complimentary webinars on SOC reporting. Upcoming webinar dates and recordings from past events are available at bakertilly.com.
About Baker Tilly
With staff totaling more than 1,400, Baker Tilly provides a wide range of accounting, tax, assurance, and consulting services. Ranked as the 16th largest* firm in the country, Baker Tilly serves clients from offices in Chicago, Detroit, Minneapolis, New York, Washington DC, and throughout Wisconsin.
The company is the exclusive Baker Tilly-branded firm in the US, which reflects its commitment to meet the ever-changing global needs of its clients.
Baker Tilly International is a worldwide network of 150 high quality, independent accounting and business advisory firms in 120 countries, with more than 25,000 professionals.
*According to the 2011 Accounting Today "Top 100 Firms."
SPECIAL INSTRUCTIONS FOR ALL MINNESOTA MEDIA OUTLETS ONLY:
All company references to Baker Tilly in this press release must be listed as Baker Tilly Virchow Krause, LLP. No shortened version of the company name is permitted. All references to Baker Tilly International do not require modification.