Los Angeles, CA (February 1, 2012)
Business Date, Inc. (BDI) is pleased to announce the successful completion of its first annual SOC 2 and SOC 3 Type II audit reviews by Marcum, LLP, one of the nation's leading and licensed CPA firms specializing in Service Organization Control (SOC) standards. The audit results detail SOC 2 and SOC 3 compliance and demonstrates our commitment to the highest available standards in support of security, privacy and service on behalf of BDI's clients and business partners nationwide.
SOC 2 and SOC 3 replace SAS 70 as the primary method for providing examiners with detailed information regarding a service organization's security practices, controls, policies and procedures. BDI's SOC 2 and SOC 3 reports are specifically intended to provide your organization with assurance and confidence in BDI's ability to protect your organization's vital information.
The American Institute of Certified Public Accountants (AICPA) recently released a series of three (3) Service Organization Control (SOC) guides for auditors to utilize when auditing and reporting on controls at service organizations:
SOC 1, otherwise known as the Statement on Standards for Attestation Engagements No. 16 (SSAE 16), replaces SAS 70 as the primary guide for auditing a service organization's controls relevant to a user entity's (customer's) financial statements (e.g. core processors).
In any SOC engagement, the auditor provides a Type I or a Type II report. Type I reports document an auditor's opinion regarding the accuracy, completeness and suitable design of an organization's controls as of a set date. Type II reports audit the implementation of these controls over a set period of time, typically 6 months to a year, with sample testing of each controls' operating effectiveness during the defined period.
BDI successfully completed a SOC 2 and SOC 3 Type II audit review on November 30, 2011. This audit covers the June 1, 2010 - August 31, 2011 reporting period. According to the AICPA, there is no "Certified" designation.
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