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LeaseQuery Completes System and Organization Controls (SOC) 1 Type 2 Assessment

by | Jun 18, 2020

The completion of this report demonstrates LeaseQuery’s emphasis on internal controls, affirming its mission to ease lease accounting beyond compliance for its clients.

ATLANTA – June 18, 2020 – LeaseQuery, a leading provider of purpose-built lease accounting software to more than 1,000 businesses, announced today that it has completed its SOC 1 Type 2 assessment performed by a Big 4 auditor. This report is available to prospective customers as a part of the company’s standard due diligence practice.

“Obtaining a SOC report gives our clients an understanding of the processes and controls in place at LeaseQuery related to internal controls over financial reporting,” said George Azih, CEO and founder of LeaseQuery. “Having an understanding of the controls in place and their operating effectiveness, allows our clients to spend more time using our tool to streamline lease processes, unlock financial insights and successfully transition to the new standards.”

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. Working with an independent public accounting firm to complete the examination of controls under the SOC 1 Type 2 AICPA standards continues to be a priority investment for LeaseQuery.

Amidst a global pandemic and an unpredictable financial environment, many companies are reexamining how technology can save time, money, and resources. Adding lease accounting software to a business’ technology stack facilitates mandatory compliance, improves the audit process, enables teams to work more efficiently, and empowers smarter financial decisions. Find out why more than 10,000 accountants are using LeaseQuery’s platform here.

About LeaseQuery

LeaseQuery helps more than 10,000 accountants and other finance professionals eliminate lease accounting errors through its CPA-approved lease accounting software. It is the first lease accounting software built by accountants for accountants. By providing specialized consulting services in addition to its software solution, LeaseQuery facilitates compliance with the most comprehensive regulatory reform in 40 years for businesses across all sectors.

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