UPDATES + INSIGHTS

Article Summary

• Explains how to determine whether a vendor qualifies as a Subservice Organization in SOC 1 and SOC 2 reports.
• Defines Subservice Organizations based on AICPA SOC Audit Guides, emphasizing “relevant” and “necessary” controls.
• Identifies two key factors: whether vendor controls are...

Article Summary

• Purpose and Value of SOC Reports – SOC (System and Organization Controls) reports are independent audit reports that provide assurance about a service organization’s internal controls, helping build trust with customers, partners, and auditors.
• Differences Between SOC Types – The...

Article Summary

• SOC Framework Overview: SOC reports are independent audits of internal controls relevant to security, availability, processing integrity, confidentiality, and privacy, with criteria defined by the AICPA.
• New SOC 2 Trust Service Criteria: Recent updates have clarified the Trust...

Article Summary

• SOC audits require significant preparation and planning. From readiness assessments to audit fieldwork and reporting, the full SOC journey can take several months to over a year depending on scope, control maturity, and whether the organization is pursuing a Type I or Type II...

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How a Strong Month-End Close Drives Dealership Financial Success

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Base Camp 2026:  Navigating the One Big Beautiful Bill Training Slides

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One Big Beautiful Bill Act:  Individual Tax Provisions

Article Summary

• Expanded credits and deductions for individuals — The law extends and enhances the Child Tax Credit and non-child dependent credits, increases the standard deduction, and introduces new temporary deductions, such as for tips,...

One Big Beautiful Bill Act: Business Tax Provisions

Article Summary

• Key changes to business tax rules: The Act includes a set of updated and newly permanent business tax provisions affecting deductions, reporting thresholds, and credits for various types of businesses.
• Qualified Business Income...