CoAdvantage Successfully Completes SSAE Type 2 SOC 1 Examination
Exam Establishes Security and Transparency between the Company and Its Customers
Bradenton, Fla., (January 6, 2022)–CoAdvantage, a leading national provider of strategic human resource solutions for small to mid-sized companies and one of the nation’s largest privately held professional employer organizations (PEO), announced today that it has successfully completed its Statement on Standards for Attestation Engagements (SSAE) Type 2 SOC 1 examination.
The SOC 1 examination is completed by an independent CPA organization and studies a company’s systems and processes to establish security and transparency between the company and its customers or stakeholders. The examination specifically reviewed controls that CoAdvantage has implemented to prevent or to detect and correct, errors or omissions in the information that it reports.
“As one of the top PEOs in the nation, CoAdvantage is committed to transparency and will engage in a continuous SOC 1 process to provide our customers and stakeholders with a continued assurance and confidence in the company,” said Clinton Burgess, President & CEO of CoAdvantage. “The SOC examination is a valuable tool that promotes the company’s dedication to protecting our customers and stakeholders.”
The control objectives audited by the SSAE Type 2 SOC 1 examination addressed CoAdvantage and relate to:
• Physical Security
• Computer Operations
• Information Security
• Application Change Control
• Data Communications
• Client Set-Up
• Payroll Data Input & Processing
• Payroll Funding
• Payroll Tax Filing & Changes
• Enrollment & Plan Changes
• COBA Processing
By engaging an independent CPA to examine and report on CoAdvantage’s controls, the company has now obtained an objective, positive evaluation of the effectiveness of controls that it has in place to address operations and compliance, as well as financial reporting. The company has successfully completed the SOC 1 examination since 2015.
The examination was performed by Schellman & Company, LLC.
About CoAdvantage CoAdvantage is a leading Professional Employer Organization (PEO) that offers small and mid-sized businesses a comprehensive package of human resource solutions, enabling them to reduce their administrative burden and access affordable employee benefits. The company integrates payroll and tax processing, employee benefit plan administration, risk management, government compliance, and other human resources services into a single vendor solution that is exceptionally efficient and effective. To learn more, visit www.coadvantage.com.