Why am I Being Asked About SSAE 16, and What do I Need to Know to Talk Intelligently?

by Sarah Harvey / December 16, 2022

SOC 1 (formerly SSAE 16) is the most commonly used means of third-party attestation. Have you been asked about a SOC 1 audit? Are you interested in learning more about how you can ensure SOC 1 compliance? The following webinar provides an informative overview of the SOC 1 framework along with SOC 2, HIPAA, PCI, and FISMA.  What Does a SOC 1 Audit Include? SOC 1 is an audit…

PCI Readiness Series: PCI Requirements 3 and 4

by KirkpatrickPrice / December 16, 2022

This session in our PCI Readiness Series focuses on PCI DSS Requirements 3 and 4, which focus on encryption and protecting cardholder data. PCI Requirement 3 states, "Protect stored cardholder data." PCI Requirement 4 states, "Encrypt transmission of cardholder data across open, public networks."  What is Requirement 3? PCI Requirement 3 gives organizations an opportunity to consider which retained data is required and which is becoming a liability for…

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6 Steps to Construct Your Internal Audit Program

by Sarah Harvey / June 15, 2023

Why is an internal audit program important? The CFPB Examination Manual has become the ruling guidance for those in the collections space, and internal audit is a topic that can’t be taken too lightly. According to the manual, an effective compliance management system should have four interdependent control components: Board and management oversight Compliance program Response to consumer complaints Compliance Audit When these four control components are strong and well-coordinated,…

Style Guide to Writing Good Procedures

by Sarah Harvey / June 14, 2023

Last week, we explored the process of writing effective policies. This week we will take a look at what goes in to writing effective procedures; the policy counterpart. Procedures are the process or task instructions on how, exactly, a policy is followed. They communicate the responsibility for a task or a process. Where a policy defines the rule as a guide to employees making decisions and mandatory rules that require…

Style Guide to Creating Good Policies

by Sarah Harvey / June 14, 2023

Countless regulatory compliance and client requirements depend on clear and appropriate policies and procedures to demonstrate how organizations are conducting their business. Without defined policies and procedures, you face the threat of heavy fines from regulatory governing bodies, loss of business, or loss of data. As auditors, we find that many of our own clients struggle with understanding the organization of a policy, what does belong in a policy, what…