TimelyBill Successfully Completes Its SOC 1 (SSAE 16) Type I Audit
Statement on Standards for Attestation Engagements No. 16
June 19, 2013
Bill Perfect Inc., a privately owned software and services company that develops the award winning Billing/OSS software suite called "TimelyBill" for the communications service providers market, announced today that it has completed a SOC1 (Statement on Standards for Attestation Engagements No. 16 ("SSAE 16")) Type 1 examination / certification. The examination was performed by Assurance Concepts, PLLC, a full-service audit and consulting firm that specializes in integrated compliance solutions including conducting SOC1 or SSAE 16 Type 1 audits.
SSAE 16, developed by the American Institute of Certified Public Accountants ("AICPA"), is the most widely recognized authoritative guidance that provides service organizations a uniform method for disclosing independently assessed information about the design and operation of internal controls related to their services. Companies who complete an annual SOC 1 examination are able to demonstrate a substantially higher level of assurance and operationally visibility than those companies who do not.