COSTA MESA, Calif., Sept. 28, 2022 (GLOBE NEWSWIRE) — Insight Financial Services (IFS), a division of Insight Investments, LLCtoday announced that it has achieved its 7th consecutive Service Organization Control (SOC) 1 Type 2 audit achievement and recertification.
The latest audit verifies that IFS’ online asset management system (AMOS) continues to meet SOC 1 Type 2 standards for financial reporting and security controls. AMOS is the industry’s best all-in-one lease and asset management solution that allows customers to easily access, augment and report on their lease and asset data. With AMOS, customers gain visibility into leased assets, including the value and metrics of the entire IT portfolio, upcoming maturities, and more. It integrates with other business systems with flexible APIs and includes detailed reporting capabilities.
“We are proud to maintain continued industry-standard SOC certification,” said Chris Czaja, president of Insight Investments, LLC. “Having our reports certified to current lease accounting standards helps our clients maximize the value of our services and operate as efficiently as possible. Our asset management tool provides a centralized system with complete visibility and control over all their technology assets. Powerful lifecycle management capabilities make managing an entire portfolio simple, fast, accurate and efficient.
The report, when coupled with an understanding of user entity controls, is intended to assist auditors in planning the audit of user entity financial statements or user entity internal control over financial reporting. and assessing control risk for assertions in user entities. financial statements that may be affected by Insight Financial Services’ controls.
About SOC 1 Type 2
SOC 1 is an assessment performed under SSAE 16 in which a service auditor reports on a service organization’s controls that may be relevant to a client’s internal controls over financial reporting. The Type 2 report requires the completion of the Type 1 audit first, which assesses both physical and process internal controls of security systems. The IFS SOC 1 Type 1 audit confirmed that AMOS system reporting complies with FASB leasing guidelines and ensures that data is consistent across its system. The Type 2 report verifies that the stated security and controls included in the Type 1 report have been successfully maintained. This allows IFS clients to be confident when responding to audits from external accounting firms, as data and reports are generated and maintained in an audited SOC 1 system.
About Insight Financial Services
Insight Financial Services (IFS), a division of Insight Investments, LLC provides custom leasing solutions for the acquisition of technology, equipment and related services. Businesses and government agencies benefit from IFS’ fully transparent discounting and rental solutions. Value-Added Resellers (VARs), Original Equipment Manufacturers (OEMs), and Managed Service Providers (MSPs) use IFS for customized vendor programs that help their customers get more from their solutions. With a managed national portfolio of over $1.4 billion, IFS prides itself on its hands-on, collaborative approach to leasing. Its Online Asset Management System (AMOS) provides clients with asset and lease management anywhere and anytime. For more information, visit www.ifsleasing.com.
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