DALLAS, May 31, 2016 /PRNewswire/ -- BenefitMall®, a leading provider of employee benefits and payroll services, has announced its successful completion of a "Type 2" SSAE 16 examination, formally known as a Report on Controls at a Service Organization (SOC 1). Schellman & Company, Inc., an independent CPA firm, performed the examination for BenefitMall's payroll processing services.
SSAE 16 is an attestation standard that establishes the requirements and guidance for reporting on controls for a service organization relevant to user entities' internal control over financial reporting.
"Type 2" reports are opine on management's description of a service organization's system and the suitability of the design and operating effectiveness of controls. The controls addressed in SSAE 16 are those that BenefitMall implements to prevent, or detect and correct, errors or omissions in the information it provides to user entities.
"As a national provider of payroll, HR and benefit services, this successful examination will continue to allow our employees to provide the best solutions to our clients, " said Michelle Sheffield, chief information officer of BenefitMall. "Our payroll services help companies of all sizes stay productive and efficient because we take over their payroll tasks as well as the burdens of tax filing and compliance."
By engaging an independent CPA to examine and report on BenefitMall, this service organization can respond to meet the needs of their user entities and obtain and objective evaluation of the effectiveness of controls that address operations and compliance, as well as financial reporting at those user entities.
SSAE 16 superseded the SAS 70 audit standard in mid-2011. It is the adopted version of the International Standards for Assurance Engagements (ISAE) No. 3402, Assurance Reports on Controls at a Service Organization, for use in the United States.
Headquartered in Dallas, BenefitMall partners with a network of 20,000 Brokers and CPAs to deliver employee benefits and payroll services to more than 200,000 small and medium-sized businesses. By combining payroll and benefits, BenefitMall empowers Trusted Advisors to develop the best employee programs while maintaining compliance with government regulations and Health Care Reform.
BenefitMall, the largest national General Agency merged with the second largest privately held payroll company, CompuPay. BenefitMall also operates HealthCareExchange.com, the leading online community for information regarding the Patient Protection and Affordable Care Act. More information is available at www.benefitmall.com.
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