LeaseQuery Announces Completion of SOC 1 Type 2 Examination

by | Feb 2, 2022

ATL-based LeaseQuery expanded product offerings, resources, client roster exponentially in the past year

ATLANTA – February 2, 2022LeaseQuery, a leading provider of software built to simplify the complexities of accounting, today announced its completion of the SOC 1 Type 2 Examination performed by an independent Big 4 public accounting firm. To accommodate our customers with varying year-end calendars, the company completes these examinations with its independent public accounting firm twice per year. The examination is available for customers and their external financial statement auditors.

“Completing a SOC examination twice per year allows our customers and their external financial statement auditors to feel confident in our lease accounting solutions,” said Joe Schab, LeaseQuery president and COO. “It provides insight and accountability to our clients so they can feel comfortable with the processes and controls in place at LeaseQuery.”

Developed by the American Institute of Certified Public Accountants (AICPA), the SOC 1, or Service Organization Control report, is an examination of controls at a service organization relevant to user entities’ internal control over financial reporting. LeaseQuery prioritizes working with an independent public accounting firm to complete the examination of controls under the SOC 1 Type 2 AICPA standards.

“Our clients can rest assured that implementing and adhering to the proper internal controls is a top priority for our company,” said Schab.

Along with its SOC 1 Type 2 examination, LeaseQuery is making a number of enhancements to its technology offerings by adding additional layers of accounting coverage to its platform. Find out why LeaseQuery is rated #1 for user satisfaction and ease of use for lease accounting software here.

About LeaseQuery

LeaseQuery makes accountants’ lives easier by simplifying the complex with technology. More than 28,000 financial professionals globally rely on our cloud-based, CPA-approved solutions and in-house accounting expertise to comply with confidence across various FASB, GASB and IASB accounting standards. Our software helps businesses minimize risk, increase efficiency and reduce costs. Learn more about LeaseQuery’s core platform, which focuses on easing the mandatory transition to ASC 842, IFRS 16, GASB 87 and GASB 96, or explore additional accounting tools. For more information, visit LeaseQuery.com.

Additional Resources

 

Lease Accounting Guide

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