Community associations rely heavily on management companies for the proper handling of the organizations financials, data reporting and storage of sensitive information. Mishandling of this information can lead to disastrous consequences for a community. At Community Association Management, we take this responsibility very seriously and are committed to providing our clients with the highest service standards in the industry. We recently took one step further to assure the quality of our standards by voluntarily undergoing an intensive SSAE-18 Audit administered by a third-party CPA.
What does this mean to you? This audit confirms that Community Association Management’s operations are in accordance with strict guidelines for security, availability, processing integrity, financial reporting, confidentiality and privacy. As a result of this audit, we have been awarded the prestigious AICPA SOC seal. This benchmark for our company is a reassurance to our clients that their information and activity is both secure and well managed. When it comes to choosing a management company for your community, do not settle for anything less.
A SSAE 18 is an examination which reports on the controls at a service organization. SSAE 18 stands for “Statement on Standards for Attestation Engagements No. 18,” which was created by the American Institute of Certified Public Accountants (AICPA) and was effective May 1st 2017 . Its predecessor was the SSAE 16 audit and prior the SAS 70 audit (Statement on Auditing Standards No. 70). The SSAE 18 audit focuses on Security, Availability, Processing Integrity, internal control over Financial Reporting, Confidentiality, Risk Management and Privacy. As a management company, we have access to highly sensitive data, processes and information of our clients and they need to be assured that we have adequate controls in place to safeguard funds, data, processes and information.
While this audit is not required by the Federal or State Government or the Association Management industry, it is Community Association Management’s desire to raise the bar and provide assurances to both our current and future clients that Community Association Management is truly the best choice for the management of your community.
As a result of this audit, we have obtained the AICPA SOC seal along with an extensive audit report certifying our processes, financial controls, hiring practices and computer systems are compliant with the standards set forth by the American Institute of CPA’s. Community Association Management is the first management company in the southeast to be awarded the AICPA SOC seal.
Attachments: 2017 SSAE 18 Audit Certificate