TekCollect is pleased to announce that the American Institute of Certified Public Accountants has completed their audits and TekCollect is now SSAE 16 SOC 1 Type II certified.

Statement on Standards for Attestation Engagements no. 16 (SSAE 16) is the new "attest" standard put forth by the Auditing Standards Board (ASB) of the American Institute of Certified Public Accountants (AICPA).

SSAE 16 SOC 1 Type II represents an adoption towards more globally accepted accounting principles, which clearly can be seen when comparing the new U.S. standard from the AICPA to that of its international equivalent ISAE 3402.

SSAE 16 SOC 1 Type II brings a number of requirements for which service organizations will need to be well aware, most importantly that management of the service organization must provide a description of its "system" along with a written statement of assertion. Both of these requirements differ from the previous SAS 70 auditing standard. The SAS 70 only called for a description of "controls" while the SSAE 16 SOC 1 Type II attest standard now requires a description of it's "system" which is considered to be more comprehensive and expansive then that of the SAS 70 description of controls.

David Hughes, VP of Information Systems for TekCollect states that "the SSAE 16 SOC 1 Type II puts TekCollect in a class hands and heads well above the majority of law firms and agencies that do collections." Most do not possess the capabilities and controls that the financial community now requires. In response to the ever growing need to provide safe and secure data transfers, TekCollect has taken steps to provide our clients with world class service backed by world recognized standards.