Caine & Weiner achieves SSAE 18 statusKAM
Caine & Weiner is proud to announce that the company has achieved the SSAE 18 standard. The American Institute of Certified Public Accountants (AICPA) made an important update to the Statement on Standards for Attestation Engagements (SSAE) that simplifies and converges standards to unify them with international standards. The previous SSAE 16 SOC 1 Type 2 Audited status will now simply be known as SOC 1 Type 2 Audited and can be recognized by the blue AICPA/SOC logo.
The new SOC 1 Audits are strongly focused on risk assessment, especially with the recent increase in data breaches. The SOC 1 Audit standard now requires that Management acknowledges and accepts its responsibility for identifying risks, then designing, implementing and documenting controls to mitigate those risks. The SOC 1 Auditor attests to whether the appropriate controls are in place.
The 2018 Audits are also focused on monitoring subservice organizations. Service organizations are required to not only identify the critical organizations they rely on to provide their services, but also monitor that they, too, are complying with all relevant standards.
Caine & Weiner, in fulfilling the requirements to achieve the SSAE 18 status, continues to prove why we have been a leader in the accounts receivable management industry since 1930. Our clients rely on our best-in-class Receivables-to-Cash solutions to maximize their recoveries.
The AICPA, founded in 1887, established accountancy as a profession. The AICPA’s SOC for Service Organizations provides information to service organizations on building trust and confidence in their systems. The Type 2 Report reports on the fairness of the presentation of management’s description of the service organization’s system and the suitability of the design and operating effectiveness of the controls to achieve the related control objectives.
Caine & Weiner (www.caine-weiner.com) is celebrating more than 85 years of continuous service as a global provider of highly effective and results-oriented 1st and 3rd party commercial and consumer accounts receivable management services in support of the Receivables-to-Cash Cycle. To serve the domestic market, the global Los Angeles-based enterprise maintains a network of five full-service call centers strategically located throughout the U.S. Through their active partnership with Global Credit Solutions (GCS), Caine & Weiner has established an international presence in over 90 countries. Caine & Weiner has supported U.S. commerce in Receivables-to-Cash management since their beginning in 1930 and is a founding member of the former Commercial Collection Agency Association (CCAA), and remains certified by the Commercial Law League of America (CLLA) which is endorsed by the IACC. Caine & Weiner is also a sustaining member of the International Association of Commercial Collectors (IACC) and a long-standing member of the American Collectors Association (ACA).