This report demonstrates LeaseQuery’s commitment to implementing the proper internal controls across its product lines.
ATLANTA – February 22, 2023 – LeaseQuery, a leading provider of software built to simplify the complexities of accounting, today announced the completion of its first SOC 1 Type 1 examination for LeaseQuery for NetSuite, performed by a Big 4 independent public accounting firm. The examination is accessible to customers and their financial statement auditors.
“It’s exciting to complete this report for our newest product, furthering our commitment to provide the most reliable software to our customers,” said Joe Schab, President and Chief Operating Officer. “Accounting teams, specifically NetSuite ERP users, can rest assured that LeaseQuery for NetSuite is a reliable solution with stable internal controls.”
The SOC 1, or System and Organization Controls report, was developed by the American Institute of Certified Public Accountants (AICPA). The report serves as an examination of controls at a service organization relevant to user entities’ internal control over financial reporting. LeaseQuery completes the examination of controls under the SOC 1 Type 1 AICPA standards with an independent public accounting firm.
LeaseQuery for NetSuite is a lease accounting solution built natively in the NetSuite ERP. In addition to extensive compliance capabilities, it helps organizations with lease liability and right-of-use asset calculations, amortization schedules, accurate journal entries and lease classifications, all within the NetSuite application. Learn more at https://leasequery.com/leasequery-for-netsuite/.
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 lease accounting solution, which focuses on easing the mandatory transition to ASC 842, IFRS 16, GASB 87 and GASB 96 and ensuring organizations stay compliant, or explore additional accounting tools. For more information, visit LeaseQuery.com.