Ssae 16 Type Ii #is #ssae #16 #needed,reports,reviewing #ssae #16,ssae #16,ssae #16 #audit #review,ssae #16 #review,ssae #16 #review #checklist,ssae #16 #reviews,ssae #review,ssae #reviews,ssae-18,ssae16,ssae16 #review,standards,third #party #ssae #guidance #review,who #is #required #to #have #a #ssae #16,who #is #required #to #have #ssae #16,why #get #ssae #16,audit #intensedebate,leave #a #reply: #name #(required): #website: #comments: #submit, #moderation,\’leave #a #reply\’ #\’name #(required)\’ #\’mail #(will #not #be #published) #(required)\’ #\’website\’ #it #services,controls,how #do #you #prepare #for #an #ssae #16 #audit,how #to #prepare #for #a #ssae #16,how #to #prepare #for #an #ssae #16 #audit,new #avenues #for #ssae #16,preparing #for #a #ssae #16,preparing #for #ssae #16,report #writing,ssae #16 #audit #preparation,ssae #16 #consulting #do #we #need,ssae #16 #preparation,ssae #16 #report,ssae #no. #16,example #soc #1 #report,soc #1,soc #1 #report,soc #1 #reports,soc #1 #type #2,soc #1 #type #2 #report,soc #1 #type #ii #report,soc #2,soc #3,soc #i,soc #report,soc #reporting,soc #type,soc #type #1 #report,soc-1 #report,soc1,soc1 #report,soc1 #reporting,soc1 #soc2,ssae #16 #reports,ssae #16 #soc #1,ssae16 #compliant #soc #1,system #and #organization #control #report,what #is #a #soc #1 #report,what #is #a #soc1 #report,what #is #ssae #16 #soc #1 #and #soc #2 #difference,at-c #320,cost,definition #soc #1 #ssae #16,how #ssea #16 #helps #auditors,prices,pricing,soc #1 #audit,ssae #16 #audit,ssae #16 #audit #checklist,ssae #16 #audit #report,ssae #16 #audit #requirements,ssae #16 #auditing #standard,ssae #16 #auditor,ssae #16 #checklist,ssae #16 #cost,ssae #16 #costs,ssae #16 #prices,ssae #17 #audit,ssae #18 #report,ssae #soc #auditing #and #reporting,ssae16 #audit,ssae16 #audit #report,ssae16 #checkilst,what #is #a #ssae #16 #audit,what #is #ssae #16 #audit,what #is #ssae16 #audit,what #is #the #purpose #of #a #ssae #16 #audit?


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The SSAE 18 Reporting Standard SOC 1 SOC 2 SOC 3 Support and Guidance for SSAE18, SOC 1, SOC 2, and SOC 3 reporting standards

Some organizations have heard of SAS 70, SSAE 16. and soon to be SSAE 18. but, don t really know WHY they need to pay to have a bunch of auditors trounce through their company for a month or two during the year, especially right after their financial audit just finished.
The answer is simple: Many companies will not even think about using your company to perform services for them without a clean Type II Report in place.
Some benefits of having an SSAE 16 performed :

  • Ability to perform outsourcing services for Public Companies.
    • If performing financially significant duties for a Public Company, they are required to use a SSAE 16 qualified provider as it is the only way to give investors assurance over controls that are not performed by the Company in question.
  • Public and Private companies are more likely to trust your organization with their data.
    • If you were to trust a company with your data, you would want complete assurance it will be handled with the utmost care
  • A year round accessible knowledge source (your auditors).
    • As a service organization, large or small, you will always have questions regarding your business and having a set of auditors in place with access to a wide array of business knowledge, it will allow you to bounce your questions and concerns off of a group of trusted individuals.
  • A third party to review your controls and activities to ensure they are functioning appropriately, and give advice on how to improve upon them.
    • Sometimes your internal audit department is good, but, not always as stringent as they should be. This will help to serve as a check on their work, as well as your staff. Additionally, if there were any findings noted, your auditors are in a great position to give you some tricks and tips to improve to ensure everything functions well the following period.
  • Improving performance of the organization.
    • Just the knowledge that a review is being performed of an employee s work that can have far reaching consequences for the company as a whole. No more, Oh, I didn t realize that reviewing user access was THAT important to do this month, sorry , now, everyone knows that if it s not done, the success or failure of the organization could rest upon them.

Think of the SSAE 16 or SSAE-18 audit as an annual investment into your company, increasing potential new clients. productivity and accountability .

This tip is focused on designing controls that reflect the process being testing, if they don t, a headache of massive proportions will be created once testing begins.
What do you do to make sure you don t screw this up? Have as many meetings as it takes to get it right.
What you need to do is sit down with the auditors, the department lead, the main employees responsible for performing the process, and anyone else whom could either play a role in testing or modifying the control in the future. Once that is done, Management should discuss what they determined the control to be and how it should operate, that is then reviewed by the auditors, and then the employees performing the tasks should be reconsulted to verify that the control still reflects their process accurately.
Many times people try to speed this process up and half-ass it, leaving many open items which upon testing could easily blow up into a huge problem. When the control isn t 100% agreed upon prior to testing and a deviation is noted, it s a tough call between failing the control and the ability to adjust it to accurately reflect the process. The problem is modifying a control after testing has begun is not proper and needs to be avoided at all costs.
Locking the controls locked down early on could save weeks in wrapping up your new SSAE 16 Report.
We have seen issues like this cause delays in issuing of the report to the client and running additional fees, since adjusting controls isn t free. Coming from the perspective of the auditor, we can let you know the pitfalls, consequences and how to best navigate the audit process. If you have any comments or questions please leave them below!

A SOC 1 Report (System and Organization Controls Report ) is a report on Controls at a Service Organization which are relevant to user entities’ internal control over financial reporting. The SOC1 Report is what you would have previously considered to be the standard SAS70, complete with a Type I and Type II reports, but falls under the SSAE 16 guidance (and soon to be SSAE 18 ).

Please see the following articles discussing the SSAE 16 guidance and additional information related to the SOC 1 (Type I and Type II) Reports:

In addition to the SOC 1 report which is restricted to controls relevant to an audit of a user entity’s financial statements, the SOC 2 and SOC 3 reports have been created to address controls relevant to operations and compliance and will be discussed in further detail in the future.

Please see the SOC 1 Reporting Guide page for additional information.

SSAE 16 is an enhancement to the current standard for Reporting on Controls at a Service Organization, the SAS70. The changes made to the standard will bring your company, and the rest of the companies in the US, up to date with new international service organization reporting standards, the ISAE 3402. The adjustments made from SAS 70 to SSAE 16 will help you and your counterparts in the US compete on an international level; allowing companies around the world to give you their business with complete confidence .

SSAE16 is now effective as of June 15, 2011, and if you have not made the necessary adjustments required, now is the time to find a quality provider to discuss the proper steps. All organizations are now required to issue their Service Auditor Reports under the SSAE 16 standards in an SOC 1 Report.

The soon to be effective, SSAE-18. is expected to follow a similar reporting structure to the SSAE-16 within a SOC 1 report.

Who Needs an SSAE 16 (SOC 1 ) Audit?

If your Company (the Service Organization ) performs outsourced services that affect the financial statements of another Company (the User Organization ), you will more than likely be asked to provide an SSAE16 Type II Report, especially if the User Organization is publicly traded.
Some example industries include:

  • Payroll Processing
  • Loan Servicing
  • Data Center /Co-Location/Network Monitoring Services
  • Software as a Service (SaaS )
  • Medical Claims Processors

What you Need to Know:

Before starting the SSAE 16 process, there are a number of considerations one must take into account that can save considerable time, effort, and money in the long run. Use the following items as a mini checklist for yourself:

  • Does my Company need an SSAE16, or, are we doing it just because someone asked?
  • Reports on the low end can run at least $15,000 a year, will the business lost be less of a burden than the cost of the report itself?
  • Does your company have defined Business Process and IT controls in place, or, will you need assistance developing and implementing them (readiness assessment)?
  • Have you determined the controls in place which affect the outsourced services being provided?
  • Have key stakeholders been defined and included in discussions?

There are many other issues to consider before engaging a CPA firm to help with your SSAE 16, for a more detailed checklist please see The SSAE 16 Checklist

You may have heard SSAE-18 is on the horizon for reports issued as of May 1, 2017. There are some important updates discussed in here: SSAE-18 An Update to SSAE-16 .

As the standard is formalized and the date approaches we will continue to provide more information to help you prepare for these changes.


Fifth Third Mortgage #auto #ca


#auto interest rates
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Jumbo Loans (over $417,000), FHA and VA loans are also available. Call today for a rate quote at 1-866-351-5353.

* Mortgage rates are updated daily and are based on a variety of assumptions and conditions which include a consumer credit score which may be higher or lower than your individual credit score. Your loan’s interest rate will depend on the specific characteristics of your loan transaction and your credit profile up to the time of closing.

The estimated monthly payments above are for principal and interest only. Payments do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater. While actual loan terms may be different as prepaid finance charges and closing costs vary by location, the Annual Percentage Rate (APR) and monthly payments listed above are based on the following assumptions:

– Minimum FICO score of 740

– The refinance of a single family, primary residence

– Loan amount of $140,000

– Maximum Loan-to-Value of 75%

– Average fees of $1,347. Other fees not affecting the APR may apply

– A 60-day rate lock-in period

– 0.5 point discount for participating in our automatic payment program which requires automatic payment deduction from an eligible Fifth Third account.**

1. Adjustable Rate Mortgage (ARM) Products – The 7/1 ARM product listed above is a 30-year loan where the initial interest rate is fixed for the first 7 years (84 payments). After the initial seven year period, it is possible that the interest rate, APR and payment may increase substantially over the remaining term of the loan. After the initial seven year period, your interest rate can increase or decrease annually based on the average of interbank offered rates for one-year U.S. dollar-denominated deposits in the London market (LIBOR), plus our margin (2.25%) rounded to the nearest 0.125%. Any change may significantly impact your monthly payment. The index in the future is unknown so the Estimated Monthly Payment for payments 85-360 is based on the current index plus the margin (fully indexed rate).

**$50 minimum deposit required to open a new checking account.

Loans are subject to credit review and approval. Fifth Third Mortgage Company, 5001 Kingsley Drive, Cincinnati, OH 45227, 1-877-841-7511, an Illinois Residential Mortgage Licensee, License No. MB 0005994, Illinois Commissioner of Banks and Real Estate, 122 S. Michigan Ave. 19th Floor, Chicago, IL 60603, (312) 793-3000. Fifth Third Mortgage Company d/b/a Fifth Third Mortgage Company Incorporated and licensed by the New Hampshire banking department and licensed by the N.J. Department of Banking and Insurances and the California Department of Business Oversight under the California Residential Mortgage Lending Act. Fifth Third Mortgage is the trade name used by Fifth Third Mortgage Company (NMLS #134100) and Fifth Third Mortgage-MI, LLC (NMLS #447141). Fifth Third Bank, Member FDIC Equal Housing Lender.


Aftermarket Supply Chain Association focused on 3PSPs to whom OEMs, ODMs, Branded and Retail companies outsource to #reverse #logistics, #retrogistics, #third #party #service #provider, #aftermarket #supply #chain, #repair, #backwards #supply #chain, #moving #goods #backwards, #product #returns, #re-disposition, #re-fulfillment, #return #authorizations, #return #outsourcing, #returns #management, #reverse #supply #chain, #remanufacturing, #unsaleables, #depot #repair, #reman, #3psp, #customer #service, #helpdesk, #service #logistics, #field #service, #transportation #warehousing, #spare #parts #management, #rma #management, #replacement #management, #end-of-life #manufacturing, #it #process #management, #recycling, #scrap, #refurbishment, #screening, #warranty #management, #b #channel #management, #asset #management, #environmental #resources, #sustainability, #retrograde


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Upcoming Events

Upcoming Webinars

Upcoming Committee Mtgs

News Highlights

Industry/Focus Committees

Memberships

RL Solutions

Publications

History

The RLA was founded in 2002 when research studies were completed which revealed that over $750 billion annually was being spent on reverse logistics processes in North America alone. It was determined that a wide gap existed between third party service providers who offered reverse logistics services, and the OEMs, Retailers, and Brand Marketers who needed their services. The study also revealed there was no existing platform for discussing and sharing ‘best practices’ through any tradeshows, magazines, or trade associations that served the Aftermarket Supply Chain, or as it is called today – Reverse Logistics.

RLA’s Mission

We are a member driven global trade association for the returns and reverse industry, offering information, research, solutions and services for Manufacturers, Branded, and Retail companies from Third Party Providers. Our goal is to educate and inform Reverse Logistics professionals around the world, and be the voice of the returns and reverse industry.

The RLA focuses on all industries in the reverse logistics process, and our goal is to provide RL process knowledge to all industries. We want to educate everyone about the reverse logistics processes that are common to all industries. The Reverse Logistics Association monitors thousands of 3rd Party Service Solutions Partners worldwide who are providing Aftermarket services, while supporting the outsourcing needs of OEM, ODM, Branded and Retail companies.

Membership

In order to be able to support world-wide trade conferences and the many other activities of the association, the RLA relies on funding through annual membership fees, and service fees for the various products it provides. Becoming a member of the association means you have access to a wide range of participatory opportunities to interact with RL professionals and top Fortune 500 companies who are engaged in cutting-edge best practices, and who are dedicated to increasing the knowledge base of all RL professionals.

Copyright 2017 Reverse Logistics Association. All rights reserved. Privacy Policy | Terms and Conditions


Fifth Third Mortgage #auto #technician


#auto interest rates
#

Jumbo Loans (over $417,000), FHA and VA loans are also available. Call today for a rate quote at 1-866-351-5353.

* Mortgage rates are updated daily and are based on a variety of assumptions and conditions which include a consumer credit score which may be higher or lower than your individual credit score. Your loan’s interest rate will depend on the specific characteristics of your loan transaction and your credit profile up to the time of closing.

The estimated monthly payments above are for principal and interest only. Payments do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater. While actual loan terms may be different as prepaid finance charges and closing costs vary by location, the Annual Percentage Rate (APR) and monthly payments listed above are based on the following assumptions:

– Minimum FICO score of 740

– The refinance of a single family, primary residence

– Loan amount of $140,000

– Maximum Loan-to-Value of 75%

– Average fees of $1,347. Other fees not affecting the APR may apply

– A 60-day rate lock-in period

– 0.5 point discount for participating in our automatic payment program which requires automatic payment deduction from an eligible Fifth Third account.**

1. Adjustable Rate Mortgage (ARM) Products – The 7/1 ARM product listed above is a 30-year loan where the initial interest rate is fixed for the first 7 years (84 payments). After the initial seven year period, it is possible that the interest rate, APR and payment may increase substantially over the remaining term of the loan. After the initial seven year period, your interest rate can increase or decrease annually based on the average of interbank offered rates for one-year U.S. dollar-denominated deposits in the London market (LIBOR), plus our margin (2.25%) rounded to the nearest 0.125%. Any change may significantly impact your monthly payment. The index in the future is unknown so the Estimated Monthly Payment for payments 85-360 is based on the current index plus the margin (fully indexed rate).

**$50 minimum deposit required to open a new checking account.

Loans are subject to credit review and approval. Fifth Third Mortgage Company, 5001 Kingsley Drive, Cincinnati, OH 45227, 1-877-841-7511, an Illinois Residential Mortgage Licensee, License No. MB 0005994, Illinois Commissioner of Banks and Real Estate, 122 S. Michigan Ave. 19th Floor, Chicago, IL 60603, (312) 793-3000. Fifth Third Mortgage Company d/b/a Fifth Third Mortgage Company Incorporated and licensed by the New Hampshire banking department and licensed by the N.J. Department of Banking and Insurances and the California Department of Business Oversight under the California Residential Mortgage Lending Act. Fifth Third Mortgage is the trade name used by Fifth Third Mortgage Company (NMLS #134100) and Fifth Third Mortgage-MI, LLC (NMLS #447141). Fifth Third Bank, Member FDIC Equal Housing Lender.