LeaseCrunch® Announces Successful Completion of System and Organization Controls (SOC) 1® Type II Audit Examination

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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) 1® Type II audit examination. This is concurrent with the successful completion of an ongoing SOC 2® Type II audit examination.

“CPAs want a lease software solution with strong controls in place to ensure accurate financial reporting, alongside security and calculation accuracy controls,” said Ane Ohm, LeaseCrunch Co-Founder and CEO. “We are happy to offer the assurance of both SOC 1 Type II and SOC 2 Type II reports."

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) 1® Type II audit examination. This is concurrent with the successful completion of an ongoing SOC 2® Type II audit examination.

“CPAs want a lease software solution with strong controls in place to ensure accurate financial reporting, alongside security and calculation accuracy controls,” said Ane Ohm, LeaseCrunch Co-Founder and CEO. “We are happy to offer the assurance of both SOC 1 Type II and SOC 2 Type II reports and, at the same time, demonstrate our commitment to software excellence.”

The examination was performed by Marcum LLP, one of the largest independent public accounting and advisory services firms in the nation.

SOC 1 and SOC 2 engagements are performed in accordance with the American Institute of Certified Public Accountants’ (AICPA) guidelines by an independent organization and are intended to provide an understanding of the service organization’s suitability of the design and operating effectiveness of its internal controls.

Testing of LeaseCrunch’s controls included examination of policies and procedures regarding network connectivity, firewall configurations, systems development life cycle, computer operations, logical access, data transmission, backup and disaster recovery, and other critical operational areas of their business. LeaseCrunch received a Service Auditor’s Report with an unqualified opinion demonstrating that their policies, procedures, and infrastructure meet or exceed the stringent SOC 1 and SOC 2 criteria.

About LeaseCrunch
Named by Accounting Today as one of the top new products of 2019, LeaseCrunch provides the easiest-to-use cloud-based lease accounting software for CPA firms, designed to help organizations implement the new lease accounting standards, ASC 842, GASB 87, and IFRS 16. Designed by CPAs, former Big 4 public accounting auditors, software development veterans and a former member of the FASB staff, the application offers an easy-to-use customer interface that delivers “audit in a box” lease accounting services, reducing the time it takes clients to prepare for an audit. LeaseCrunch allows companies to identify policy elections for the leasing standard through templates for both US GAAP and IFRS. For more information go to: http://www.LeaseCrunch.com

Press Contact:
John Vita
John Steven Vita Communications
John.vita@jsvcom.com
847/853-8283

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