TaxConnex News

TaxConnex Announces Successful Completion of SSAE 16 (SOC 1) Type 2 and SOC 2 Type 2 Audits

Posted by Brian Greer on Tue, Apr 09, 2013

ATLANTA, GA (PRWeb)  TaxConnex, LLC, America’s leading independent sales and use tax outsourcing and consulting firm, announces the successful completion of both an SSAE 16 (SOC 1) Type 2 and an SOC 2 Type 2 audit.  TaxConnex is pleased to announce that no exceptions were reported.

These audits were performed by independent Certified Public Accountants.  Type 2 SOC audits are more demanding than Type 1 audits.

TaxConnex’s audit covered control objectives meant to ensure the setup of new clients in the TaxConnex process, the accuracy of tax return preparation, the accuracy and timeliness of payment processing, data security, back-up procedures, and more.

SOC reporting is the evolution from the older SAS70 reporting.  An SOC 1 audit, prepared in accordance with Statement on Standards for Attestation Engagements (SSAE) No. 16, Reporting on Controls at a Service Organization, is specifically intended to meet the needs of customers and their auditors as they evaluate the effect of the controls at the service organization relevant to customer’s financial reporting.  An SOC 2 audit, prepared under AT Section 101, Attest Engagement (AICPA, Professional Standards), follows a predefined, rigorous framework to report on the controls of service organizations, including the design and effectiveness of policies, communications, procedures and monitoring based on detailed criteria. 

“These audits reaffirm TaxConnex’s commitment to the highest standards of quality of service.  It is third party validation that we deliver what we promise,” states TaxConnex Partner Brian Greer.  “The SSAE 16 audit provides our customers with reassurance and confidence they’ve chosen a partner that operates with security and processing integrity, and that their cash payments are processed in a timely and accurate manner.”

Complete copies of both the SOC 1 and SOC 2 reports are available to TaxConnex clients upon request.

About TaxConnex 
TaxConnex, “your outsourced sales tax department’, is America’s leading independent sales and use tax outsourcing and consulting firm. Using a team of experienced tax and accounting professionals, TaxConnex provides sales tax outsourcing, sales tax consulting and VoIP tax service to businesses of all sizes with a focus on technology companies, small and mid-sized businesses, and VoIP providers. TaxConnex provides a complete set of highly customer intimate services including end-to-end compliance, data analysis, remittance, reporting, notice resolution, question handling, proactive suggestions, straightforward advice, and audit support. TaxConnex is your “on-call” Sales & Use Tax Department.

Topics: sales tax consulting, sales tax consultants, compliance