CoAdvantage Successfully Completes SSAE Type 2 SOC 1 Examination
Exam Solidifies Security and Transparency after Conversion to Proprietary Payroll Platform
CoAdvantage, a leading national provider of strategic human resource solutions for small to mid-sized companies and one of the nation’s largest privately held professional employer organizations (PEO), announced that it has successfully completed its Statement on Standards for Attestation Engagements (SSAE) Type 2 SOC 1 examination.
The SOC 1 examination is completed by an independent CPA organization and studies a company’s systems and processes to establish security and transparency between the company and its customers or stakeholders. CoAdvantage, recently completing the migration of over 100,000 worksite employees onto their proprietary Quantum platform, has successfully completed a SSAE examination every year since 2015. The examination specifically reviewed controls that CoAdvantage has implemented to prevent, or to detect and correct, errors or omissions in the information that it reports.
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“Having another successful SOC examination completed after migrating to our Quantum platform, further shows CoAdvantage’s commitment to provide our customers with a world class customer experience,” said Clinton Burgess, President & CEO of CoAdvantage. “The SOC examination is a renowned tool that upholds the company’s devotion to protecting our customers and stakeholders.”
By engaging an independent CPA to examine and report on CoAdvantage’s controls, including those on the recently established Quantum platform, the company has now obtained an independent, successful evaluation of the effectiveness of controls that it has in place to address operations and compliance, as well as financial reporting.
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CoAdvantage is a leading Professional Employer Organization (PEO) that offers small and mid-sized businesses a comprehensive package of human resource solutions, enabling them to reduce their administrative burden and access affordable employee benefits. The company integrates payroll and tax processing, employee benefit plan administration, risk management, government compliance, and other human resources services into a single vendor solution that is exceptionally efficient and effective.
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