F&I Provider demonstrates commitment to excellence by completing successful audit
Austin, Texas (PRWEB) – February 16, 2015 – RoadVantage, a rapidly growing provider of progressive F&I programs, today announced the successful completion of its first SSAE 16 (SOC 1) audit.
Offering a full suite of stand-alone and bundled ancillary products fully backed by an A.M. Best “A” rated insurance company, RoadVantage sought the audit to reinforce its commitment to excellence as the company continues its rapid growth.
“By successfully completing this audit, RoadVantage demonstrates its integrity, accountability, and its commitment to its clients,” said Jim Jimenez, Managing Partner at SSAE 16 Professionals, LLP. “This report indicates RoadVantage’s focus on strong internal controls.”
The audit undergone by RoadVantage was conducted in accordance with the AICPA SOC reporting standards by SSAE 16 Professionals (http://www.ssae16professionals.com), a full service accounting firm providing SSAE 16 (SOC 1) audits, SOC 2 audits, and other IT compliance audits.
“We continually strive to raise the bar by offering new products, innovative coverage and better claims service, which is why we continue to grow at a very fast pace,” said Garret Lacour, CEO of RoadVantage. “Completing this audit affirms our dedication to the underlying processes that enable us to do that.”
About SSAE 16 (SOC 1) Reports
SSAE 16 (SOC1) audits, which have effectively replaced SAS 70 reports, 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 SSAE 16 Professionals, LLP
SSAE 16 Professionals, LLP is one of the nation’s leading firms specializing in SSAE 16 (SOC 1) audits, SOC 2 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.