March 17, 2015
ControlPay announced today that it has once again successfully completed a Statement on Standards for Attestation Engagement No. 16 (SSAE16 or SOC 1) Type 2 audit for their Freight Invoice Audit-system. Not a single controlled aspect contained any form of deficiency.
The SOC 1 Examination reviewed the controls and processes involved in rendering our invoice auditing services. The successful completion of the audit illustrates ControlPay’s ongoing commitment to create and maintain the most stringent controls in order to achieve its control objectives. A SOC1 Type 2 assurance report in accordance with the International Standard on Assurance Engagements No. 3402 (ISAE3402) has also been received.
The Type 2 audit, which included a detailed review of the design and operating effectiveness of ControlPay’s controls, was performed by an independent Certified Public Accounting firm that specializes in conducting SSAE16/ISAE3402 audits. ControlPay received a Service Auditors’ Report with a clean opinion, which implies no exceptions were noted during testing, demonstrating that ControlPay’s policies, procedures, and operations for the areas reviewed were suitably designed to achieve its control objectives and have operated effectively throughout 2014.