Carrington Property Services LLC says it has obtained an SSAE 16/SOC 1 Type II report following an independent accounting firm's detailed review of Carrington's processes and controls relating to operations.
The rigorous Type II assessment, which included detailed testing of the national property management and real estate owned (REO) asset management company's controls, covered the following areas: control environment, risk assessment, monitoring, computer operations, data center operations, access/security, systems development, systems maintenance and quality assurance procedures.
The SSAE 16 updates the prior standard for Reporting on Controls at a Service Organization, the SAS70. The enhancements made from SAS 70 to SSAE 16 allow clients to have greater confidence when doing business with assessed companies, Carrington says.
