SOC 1 Type II

Overview

SOC 1 Type II (formerly SAS 70) reports on the internal controls at a service organization that are relevant to user entities' financial reporting. This certification is essential when a client's financial statement audit depends on the service organization's systems. CodeMiners' SOC 1 Type II certification confirms that controls affecting financial data processing have been independently verified and tested over an extended observation period.

Governing Body

American Institute of Certified Public Accountants (AICPA)

Scope of Certification

Covers internal controls at the service organization that could affect the financial statements of user entities. Applicable when CodeMiners processes financial transactions, maintains financial records, or hosts financial reporting systems on behalf of clients.

Audit and Assessment Process

A CPA firm examines and tests controls over a minimum period of six months. Testing includes transaction walkthroughs, reperformance of controls, and evidence inspection. The report includes a description of the system, control objectives, control activities, and test results.

Key Requirements

1. Financial transaction processing controls
2. Data integrity and reconciliation procedures
3. Access controls over financial systems
4. Change management for financial applications
5. Backup and recovery for financial data

Compliance Entitlements

• Verified controls relevant to client financial reporting
• Required when services impact financial statement audits
• Extended-period verification of financial control effectiveness
• Essential for clients subject to Sarbanes-Oxley (SOX) requirements

Client Benefits

• Enables clients to rely on CodeMiners' controls during their own financial audits
• Satisfies auditor requirements under SAS 70 and SSAE 18
• Reduces the scope and cost of client financial statement audits
• Required by publicly traded companies under SOX Section 404

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