Scribcor Achieves Clean SOC 1 Type 2 Audit — A Testament to Our Strong Controls and Client Trust
We are pleased to announce that Scribcor Global Lease Administration has once again achieved a clean (unqualified) SOC 1 Type 2 audit report, reinforcing our steadfast dedication to operational excellence, financial integrity, and client confidence.
What Is a SOC 1 Type 2 Audit — And Why It Matters for Lease Administration
A SOC 1 Type 2 audit, issued under SSAE 18 standards (by the AICPA), is not merely a design assessment, it evaluates both the design and operating effectiveness of a company’s controls over a sustained period (typically 6–12 months)
For lease administration providers like Scribcor, which manage critical financial data under regulations such as ASC 842 and IFRS 16, this audit offers:
- Assurance of Financial Reporting Integrity
The audit confirms that controls related to lease accounting—including transaction accuracy, data completeness, and journal entries, are both well-designed and consistently effective across time. - Risk Mitigation and Auditor Confidence
A clean report helps reduce the audit burden for our clients and their external auditors, offering reassurance that logical access, change management, and control testing are operating reliably. - Operational Stability and Credibility
Continuously maintaining clean SOC 1 Type 2 reports since 2018 underscores our control environment’s consistency and robustness—demonstrating that client trust is never compromised.
Scribcor’s Performance — Continuity and Excellence in Controls
Since becoming SOC 1 compliant in 2018, Scribcor has maintained an unbroken record of clean, unqualified audit outcomes. This unwavering performance is a testament to:
- Our commitment to accuracy and consistency, ensuring that lease-related financial data is processed reliably.
- A rigorous control framework addressing lease accounting processes, access management, integrity of calculations, and data completeness.
- Transparent, client-focused operations enabling seamless audits and reinforcing confidence in our services.
Why Clients Should Care
- Greater Trust, Less Testing: Your auditors can rely on our independent validation, reducing their testing requirements and streamlining the audit process.
- Regulatory and Compliance Confidence: Knowing your lease data is handled with rigor ensures compliance with ASC 842, IFRS 16, and related financial reporting regulations.
- Partnership in Excellence: Our track record reflects shared values—precision, transparency, and accountability—in protecting your financial interests.
Connect with Assurance
Interested in learning more about our control environment or ready to see how our audit findings translate into real-world assurance? Contact us to request an executive summary or detailed insight from this year’s SOC 1 Type 2 audit report. At Scribcor, strong controls and client confidence go hand in hand.